Interest for PPF throughout the tenure ?

POSTED BY Jagoinvestor ON January 28, 2011 3:40 pm COMMENTS (2)

There is a big confusion which has come up on the main blog here :https://www.jagoinvestor.com/2011/01/monthly-income-plans.html#comment-19339

 

The confusion is whether interest at the time of openeing a PPF account will be same through out the tenure or NOT , govt might change it in between , but will it be applicable to old accounts or not ?

I am very sure that the interest will be given as per the new rates only to everyone . But I am not getting the source of truth . Any idea ?

 

2 replies on this article “Interest for PPF throughout the tenure ?”

  1. Anand says:

    If the rate is constant for a given account then it would have been mentioned in the government document (PPF.pdf file) clearly.

    We can underline the word “notified by Central Government in the official Gazette from time to time”.

    If the rate is changed, it is changed for ALL the accounts.

  2. Purnachander says:

    I feel that the interest calculated for a month is the same for every existing PPF account, irrespective of Date of Opening the account.

    The 8th point of PPF rules (Pdf document from Indian postoffice website) states that Interest rate, notified by Central Government in the official Gazette from time to time is used to calculate the interest for a calendar month and will be credited to the account at the end of the year.

    -Purna

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today