The government has hiked Interest rate on Public Provident Fund (PPF) for the October-December 2018 quarter, from existing 7.6 % to uline{1cm} %.

2018

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The government has hiked Interest rate on Public Provident Fund (PPF) for the October-December 2018 quarter, from existing 7.6 % to _________ %.

A	7.9
B	7.8
C	8.2
D	8

Explanation:

Detailed explanation-1: -The rates of interest on various small savings schemes announced (on a quarterly basis) will come into effect the third quarter of 2018-19 starting October 1 and ending on December 31, 2018, Investment in the PPF and NSC will now offer an annual interest rate of 8 per cent, up from existing 7.6 per cent.

Detailed explanation-2: -The current interest rate for Q4 (January-March) FY 2022-23 for PPF accounts has been fixed at 7.1%.

Detailed explanation-3: -The interest rates have been fluctuating for a few years and have been witnessing a downward trend since 2016. The interest rate for PPF from April 2020 to June 2020 was 7.1%. The PPF interest rate for the quarter of 1 July, 2021 to 30 September, 2021 is 7.10% .

Detailed explanation-4: -New investments made during the July-September 2022 quarter into these schemes will also earn the same interest rates as in the previous quarter. According to the circular, the Public Provident Fund (PPF) will continue to earn 7.10 per cent.

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