The government has not made any change in the interest rate of small savings schemes like Public Provident Fund (PPF) and National Savings Certificate (NSC) till June. Today we will tell you who has the highest interest rate in PPF and NSC. Apart from this, some special things of both the schemes will also be told.
The annual interest rate of PPF and NSC is 7.1 percent and 6.8 percent respectively.
About PPF Account: In PPF, any person can open an account in any bank. Its duration is 15 years. Investment in this gets tax exemption of up to Rs 1.50 lakh under section 80C. You can invest a minimum of Rs 500 in this. Also, PPF cannot be deposited more than 12 times in a financial year. You can also deposit Rs 1.50 lakh in one go.
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About NSC Account: National Savings Certificate is a fixed income investment scheme. You can start investing in it with Rs. There is no upper limit to invest. Any Indian citizen can join through any post office. The plan has a maturity period of 5 years.