Current PPF Interest Rate 2022 – SSY Savings Interest Rate April 2022-23

Current PPF Interest Rate – SSY Savings Interest Rate April 2022-23. PPF Interest not Credited on 31st March 2022. PPF Interest Credit Date

PPF stands for Public Provident Fund. The PPF is a saving scheme controlled by the Central Government to advantage small savers across the long term. When we talk about this scheme, then it is one of the important priorities options for particulars searching for guaranteed returns on their savings, without any market risk. The PPF is generally suited for small savers who wish to deposit a part of their savings in their PPF account on the regular basis and gather a collection in the long run.

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SSY Savings Interest Rate April 2022-23

Interest rates provided on PPF are one of the tops, in contrast to other considered-income items that have government backing like Post Office Time Deposits, National Savings Certificate (NSC), etc. usually, PPF interest rates are kept greater than the prevalent considered Deposit rates provided by Banks, to motivate savings among Indian households for their long-term life.

The Public Provident Fund Interest rate is set by the government, every quarter. The recent interest rate for Q1 (April-June) FY 2022-23 for Public Provident Fund accounts has been considered at 7.1%.

Current PPF Interest Rate 2022 23 Highlights – PPF Interest Credit Date 2022

The returns on the Public Provident Fund balance are calculated every month as per the prevailing PPF interest rate for the quarter. Although, the total interest gained in a financial year is credited to the Public Provident Fund account only at the last of the financial year.
When we talk about the Public Provident Fund Interest, then they will be paid PPF interest is paid on the less balance observed in the PPF account from the 5th to the end day of each month. For example, As of 1st April 2021, if the balance in your PPF account is Rs. 10,000 and you deposit Rs. 20,000 more on 8th April 2021, interest for the month of April will be calculated on Rs. 10,000 instead of Rs. 20,000. Although, if you deposit a similar amount on 4th April 2021, interest will get at Rs. 30,000.

SSY Interest Rate 2022-23 Highlights Check Here

Name of the Scheme Sukanya Samriddhi Yojana
Known as SSY
Portal Name Sukanya Samriddhi Yojana Portal
Year 2022
Location All Over India
Article For Current PPF Interest Rate 2022 – SSY Savings Interest Rate April 2022-23
Category Interest Rate
Official Website

Current PPF Interest Rate 2022 – PPF Interest not Credited on 31st March 2022

The current PPF Rate for 2022 is 7.1%. The Public Provident Fund Interest is not credited on 31st March 2022. If you are looking for PPF rate information, then you may visit the official website as shown in the below section.

Is There a PPF Account Earned Interest After Maturity?

PPF accounts have at least a lock-in of 15 years from the date of starting the account. When the Public Provident Fund Account matures after 15 years, then all the account holders have 2 choices:

  1. They may withdraw the whole corpus gathered in their People Provident Fund account
  2. They may expand their PPF account for 5 more years.
  3. This will allow them to continue creating donations and earn interest in their total PPF balance. But the application for addition requires to be completed within 1 year after the PPF maturity account. additions for People Provident Fund accounts are in blocks of 5 years, but there is no cap on the number of additions.

SSY Interest Rate 2022-23 Check Online

You have to download the IPPB app first on your phone number to create online payments towards your SSY account. Through this application, you may set standing instructions so that a declared amount will be transacted online to your SSY account. Here is the step-by-step method:

  • Transact the amount from your bank account to an IPPB account.
  • On the IPPB application, visit DOP Products and select the Sukanya Samriddhi Yojana account.
  • Provide your SSY account number and also need to enter the DOP customer ID.
  • Select the money you would like to make the payment and the installment duration.
  • IPPB will specify the success of setting up the payment routine.
  • Each time the application creates the amount transfer, you will be specified of the similar.

Important Links:

SSY Official Website: Check Here

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