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INCREASE PPF RATE FROM 1ST OCT 2018

Dear Reader
From year 2012-2013, after a continuously reduction of PPF interest rate, government given relaxation to the common people of India who deposit their funds through PPF.
The Ministry of Finance, Government of India announces the rate of interest for PPF account which is increased from 7.6% to 8.0% (compounded annually) effective from 1 October 2018.
If a person think to invest as a future saving which is complete safe with a good return, it’s a right time to start.
Currently Initial deposit amount in PPF A/c in a year is Rs 500/- & maximum of Rs.150000/- with Tax benefit U/s 80C.
You can open it in Post office or different scheduled bank authorized for such deposition Like ICICI / PNB etc.
But remember one person can open only one account anywhere.
I Hope this blog is very helpful for all the readers.
For any query or discussion, pls. write in comment box.

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