All you wanted to know about Public Provident Fund

SI Reporter / Mumbai 09 Jan 12 | 08:42 AM

Read this before you choose to invest in Public Provident Fund (PPF) as a tax saving option.

The annual ceiling on investment in the Public Provident Fund (PPF) scheme has been increased to Rs 1 lakh from Rs 70,000. Also, the interest rate has been hiked to 8.6 per cent from the present 8 per cent.

While a tax free 8.6 per cent annually is good news for investors, this rate is applicable only for the current financial year. In other words, the rate of interest on PPF is going to be aligned with the rate on government securities (G-Sec), of similar maturity, with a spread of 25 basis points (bps).

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