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Public Provident Fund (PPF) Interest Rate Slashed To 8.1% From 8.7%

Finance Guru Speaks: Finance Ministry has reduced the interest rate payable to PPF to 8.1%. Last year PPF Interest Rate was 8.7%. It is certainly a big jolt to the Common Man!
PPF Interest Rate Reduced
PPF Interest Rate Reduced

Government had announced on February 16 to move small saving interest rates closer to market rates.

The idea of Government is to revise interest rates on small savings every quarter and at present, this cut of PPF interest rate to 8.1% will be applicable from Apr 1 to June 30.

"On the basis of the decisions of the government, interest rates for small savings schemes are to be notified on quarterly basis," the order said while announcing the rates for the first quarter of FY 2016-17.  

Please provide your comments in the below section and let us know what you think about this decision, considering PPF is a very common investment/savings medium of Medium class people.

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