Public provident fund or PPF has seen a sharp cut in interest rate cut for this quarter, along with those on other small savings schemes.
The government also recently extended the date for making investment in PPF for claiming income tax deduction for 2019-20. Last fiscal the government had also tweaked a few rules for the benefit of PPF account holders.
These were mostly procedural in nature. The PPF scheme has a maturity of 15 years. Here are 5 things to know about new PPF rules: 1) After an 80-basis-point cut in interest rate for the April-June quarter, PPF still fetches 7.1% interest rate.
PPF remains an attractive option for long term savings when interest rate on bank deposits are falling sharply. For example, the highest interest
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