Public Provident Fund (PPF) is one of the most popular long-term saving-cum-investment products. Investors often opt for PPF in order to earn tax-free and guaranteed returns. The investments in the fund are guaranteed by the Indian government. But the interest rate of PPF has been continuously decreasing since 2013. The investment limit in PPF was hiked from Rs 1 lakh per year to Rs 1.5 lakh per year in 2014. However, the interest rate has been reduced by 1.7 per cent from 2013 to 2022. The National Savings Institute first offered the PPF to the public in 1968. It is mandatory to invest a minimum amount of Rs 500 every financial year in the PPF account.
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The rate of PPF is revised by the Ministry of Finance on a quarterly basis. By the end of December, 2022, the interest rate for the next quarter of FY 2022-23 is going to be announced.
Here is how the PPF interest rate has changed in 10 years:
PPF Interest Rate 2012-13
Between 1 April 2012 and 31 March 2013, the PPF interest rate stood at 8.8 per cent and the investment limit was Rs 1 lakh per year.
PPF Interest Rate 2013-2014The PPF interest rate from 1 April 2013 to 31 March 2014 stood at 8.7 per cent and the investment limit was set at Rs 1 lakh per year.
PPF Interest Rate 2014-2016
Between 1 April, 2014 and 31 March, 2016, the PPF interest rate was 8.7 per cent and Rs 1.5 lakh per year was the investment limit.
PPF Interest Rate 2016
The PPF interest rate fell to 8.1 per cent between 1 April 2016 and 30 September 2016.
PPF Interest Rate 2016-2017
PPF interest rate between 1 October 2016 to 31 March 2017 was revised to 8 per cent and the investment limit was kept at Rs 1.5 lakh per year.
PPF Interest Rate 2017
The PPF interest rate was revised to 7.9 per cent between 1 April 2017 to 30 June 2017. Between 1 July to 30 September, the PPF interest rate further fell to 7.8 per cent.
PPF Interest Rate 2018
From 1 January to 30 September 2018, the PPF interest rate was reduced to 7.6 per cent and the investment limit was kept at Rs 1.5 lakh per year.
PPF Interest Rate 2018-2019
PPF interest rate from 1 October, 2018 to 30 June 2019 was hiked to 8 per cent.
PPF Interest Rate 2019-2020
From 1 July 2019 to 31 March 2020 was revised to 7.9 per cent and Rs 1.5 lakh per year was the investment limit.
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PPF Interest Rate since 2020
At 7.1 per cent, the PPF interest rate has remained unchanged, and so has the investment limit.
