PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits.
PPF Interest Rate
PPF or public provident fund deposits will fetch 7.9 per cent interest rate for the April-June quarter - the lowest interest rate in nearly 40 years.
Small Savings schemes will continue to be attractive as some of them enjoy income tax benefits and additional interest rate spreads - Press Release from Finance Ministry.
Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued
The government on Friday slashed interest rates on small-savings schemes, including the PPF Interest Rate and Kisan Vikas Patra.