Hey Pal,
Before beginning my discussion about when is PPF interest credited, I would like to brief you on PPF interest rates. The PPF interest rates were recently lowered by the Indian government from 7.9% to 7.1% compounded annually. PPF continues to provide investors with a better interest rate compared to alternative saving plans and bank deposits.
Calculate your EMI on a home loan with the help of the NoBroker EMI calculator. With NoBroker's house loan services, you may get a stress-free home loan disbursement.This decrease has an impact on the maturity sum once the 15-year lock-in term has ended. Investors who want to reduce their tax burden and earn reliable profits continue to benefit from PPF.
Interest on PPF:The minimum balance in a person's account from the fifth to the last day of every month determines the interest rate on PPF. Anytime during the year, if a person wants to deposit a sizable sum, they should do so by the fifth of the relevant month. As a result, the person will be able to receive interest on the sum for the entire month.
When PPF interest is credited?Your PPF is credited with PPF interest at the conclusion of each fiscal year (FY). As an illustration, interest for the period from April 2020 to March 2021 will be credited on March 31, 2021.
I hope this clarifies your query about when is interest credited in PPF account.
Is PPF interest taxable?No. Interest from PPF is entirely tax-free. PPF contributions are also tax deductible up to Rs. 1,50,000 annually under Section 80 C. Additionally, the PPF maturity amount and interest credited are both tax-free. In this manner, the PPF investment is classified as EEE (Exempt-Exempt-Exempt).
What was the highest PPF rate that was ever offered?From 1986 through 1999, the PPF interest rate was set at 12%. The most expensive rate was this one. But previous years also had different levels of inflation and general interest rates than the ones we have today.
I would like to conclude here about when is PPF interest credited. I hope this helps:)
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When Is PPF Interest Credited?
Sandhya
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2 Year
2022-10-17T17:42:21+00:00 2022-10-17T17:42:22+00:00Comment
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