PPF Interest Rate Increased – There’s just a few days left for the presentation of the Union Budget 2022-23. Public Provident Fund scheme is a long-term saving-cum-investment products, mainly due to its combination of returns, tax savings, and safety. People prefer PPF as it is one of the safest investment plans in India.
PPF Interest Rate to be increased soon!
| Minimum Investment amount | Rs.500/- |
| Maximum Investment amount | Rs.1.5Lakhs per annum |
| Tax benefit | Rs.1.5Lakhs per |
| Tenure | 180 months |
| Mode of deposit | Cash, cheque, DD, online money transfer |
| CURRENT interest rate | 7.1% |
As per reports, ICAI has suggested Finance minister of India, Mrs. Sitharaman to increase the maximum limit of PPF Investment from 1.5 Lakh to 3 Lakhs. As per ICAI, the new change in increasing the maximum investment amount mightl boost household savings as a percentage of GDP. ICAI has said to raise the investment limit in PPF to Rs 3 lakh before the Union Budget to be presented on 01. 02. 2023.
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Written and edited by Rajeshwari.
