Thursday, June 21, 2012

How interest is calculated in PPF?

Rate of Return on PPF is 8.8 % p.a. (Compounded annually). Interest is calculated on the lowest balance between the close of the fifth day and the last day of every month.Till March 2010,cheque deposited for clearing( if cleared eventually)up to 5th of the month was eligible for that month's interest.Since 29/03/2010 however thro' a circular, it is notified that only the amounts which are actually cleared on or till 5th of the month are eligible for that month's interest.

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