In this post we will look at the ppf interest rate 2013
PPF – Public Provident Fund a government of India initiative, mainly helps working, business and home makers to save their hard earned money. Although Interest Rate varies every year it is still the best way to save tax or save for the future.
PPF Interest Rate 2013 – 14
Prime Interest Rate Revised by The Reserve Bank of India to 8.7 Percent .
The New Interest Rate for the Financial Year 2013 Calendar was changed by the Reserve Bank of India. (RBI) notified 0.1 percent reduction each in interest rates on Public Provident Fund (PPF) to be effective from fiscal beginning April 1, 2013. The rate of interest on PPF has been lowered from 8.8 percent to 8.7 per cent with effect from April 1, 2013
The Rate of Interest will remain to be 8.7 % un-till the next financial year or when the Government of India changes. For the existing 8.7 % with 100,000 investment and best time of investment defined. The returns after 15 years – ( 2028 ) will be 3,497,179 INR (34 Lakhs 97 Thousand and 197 Rupees). See the table below – Ideal case – Investment made on 1st April – 5th April every year for 15 years