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PPF Interest Rates

The full form of PPF is Public Provident Fund. It is an investment scheme introduced by the Government of India through various banks and post offices for the general public. This fund aims to mobilize small savings from the general public with the intention of creating reasonable returns along with the advantage of tax benefits. Any resident citizen of India can apply for a Public Provident Fund account and claim tax deductions for the same. PPF is a good choice of investment for retirement planning. A PPF account can also be opened online with all major banks in India.

PPF Interest Rate 2019

PPF interest rates are set by the central government. Earlier, PPF interest rate was revised on an early basis. But now, they are set on a quarterly basis. This came into effect since FY 2017-18. The PPF Rate for year 2019 is:

  1. January - March 2019 (Q4 FY 18-19): 8%
  2. April - June 2019 (Q1 FY 19-20): 8%
  3. July - September 2019 (Q2 FY 19-20): 7.9%

PPF Interest Rates for the Past 10 Years

Note: The rates are from April 2008. Source: National Savings Institute.

PeriodRate
July - September, 20197.9%
April - June, 20198%
January - March, 20198%
October - December, 20188%
July - September, 20187.6%
April - June, 20187.6%
January - March, 20187.6%
October - December, 20177.8%
July - September, 20177.8%
April - June, 20177.9%
January - March, 20178.0%
October - December, 20168.1%
July - September, 20168.1%
July - September, 20168.1%
April 2015 - March 20168.7%
April 2014 - March 20158.7%
April 2013 - March 20148.7%
April 2012 - March 20138.8%
December 2011 - March 20128.6%
April 2011 - December 20118.0%
April 2010 - March 20118.0%
April 2009 - March 20108.0%
April 2008 - March 20098.0%

PPF Interest Rates Eligible Banks

Apart from post offices and government registered bodies, the following banks offer PPF Accounts:

  1. Axis Bank
  2. ICICI Bank
  3. HDFC Bank
  4. State Bank of India
  5. PNB
  6. Canara Bank
  7. Indian Bank
  8. UCO Bank
  9. Bank of India
  10. Bank of Baroda
  11. Allahabad Bank
  12. Central Bank of India
  13. Union Bank of India
  14. Andhra Bank
  15. Corporation Bank
  16. Dena Bank
  17. Indian Overseas Bank
  18. Syndicate Bank
  19. UCO Bank
  20. United Bank of India
  21. Vijaya Bank
  22. IDBI Bank

FAQs on PPF Interest Rates

What is the interest rate for PPF in SBI?

The interest for PPF in SBI is 7.9% for July - September 2019 (Q2 FY 19-20).

What happens if you wish to deposit more than 1.5 lakhs in PPF?

The annual investment in PPF account is capped at Rs 1.5 lakh for each financial year. One cannot deposit more than this amount.

Which bank gives maximum interest on PPF?

All banks are currently giving an interest of 7.9% on a PPF account.

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