Recently Government announced Post Office Small Savings Schemes and the schemes like PPF and Sukanya Samriddhi Scheme interest rate July-Sept 2016. Let us see whether there is any change it or not.
First recap the changes done to all Post Office Savings schemes for the year 2016. Earlier the interest rates used to be announced on yearly once. However, the rate of interest will be fixed on a quarterly basis. I already wrote a detailed post on this. I am providing the links of those earlier posts below.
- Post Office Savings Schemes -Changes effective from 1st, April 2016
- Premature closure of PPF account – New Rules 2016
Based on these new changes, now onward interest rate will be declared on a quarterly basis. The last quarter interest rate can be viewed in my earlier post “Interest of PPF KVP NSC SCSS and Sukanya Samriddhi for April-June 2016“.
Below is the timetable for change in interest rates for all Post Office Savings Schemes.
As per this timetable, Government recently announced PPF and Sukanya Samriddhi Scheme interest rate July-Sept 2016 and also for all Post Office Savings Schemes.
The Government this time not changed the interest rates for the second quarter of 2016-17 (July-Sept 2017). Let us see the interest rate for all the Postal Schemes for this second quarter.
You noticed the interest rate not at all changed for all schemes (I highlighted them in red). In Below chart, I will try to show you the interest rate movement from FY 2015-16 to the second quarter of 2016-17.
You notice the changes of all schemes from FY 2016-17 first quarter. They reduced drastically and now maintained the status quo of the same first quarter for the second quarter.
Hope this much information is enough to understand how the changes done to all Post Office Savings Scheme Interest Rates from FY 2016-17.
Refer our earlier posts related to post office Savings Schemes-
- All about Public Provident Fund (PPF)
- How to encash or withdraw NSC bought from different Post Office?
- NSC-Accrued Interest taxation and way to reduce it
- Post Office Monthly Income Scheme or MIS – A complete guide
- Premature closure of PPF account – New Rules 2016
- PPF withdrawal rules & options after 15 years maturity
- Public Provident Fund -20 unknown facts
- 15 Rules of availing Loan against PPF (Public Provident Fund)
- How to transfer PPF Account from Post Office or Bank to another Post Office or Bank?
- Excel PPF Calculator-Calculate goal, loan or withdrawal amounts
- PPF-Loan and Withdrawal
- PPF-When to contribute to get higher returns?
- All about Kisan Vikas Patra (KVP)-2014
- Sukanya Samriddhi Account -When to invest to earn more returns?
- Sukanya Samriddhi Account-An investment scheme for your girl child
- Post Office Senior Citizen Scheme (SCSS)-Benefits and Interest Rate
View Comments (12)
What is the interest rate of PPF in post office for the period of October to December 2016 ?
Arup-Yet to declare. Please wait for few more days.
hi
i am sudha working private company i have transfer my PF money company 1 to company 2 now i am going to transfer company 2 to company 3 if i see my passbook my pension amount is not there.
1.How can i get my pension amount?
2.it got transfer or not how can i check?
3.if not means what i need to do get my money?
Can you please clarify this.
Sudha-Refer our blog forum question "EPS withdrawal rejected".
Hello Mr. Basu
My query is regarding PF too. I have worked around 3 years in a company. It was contract based job, which was renewing every year. My current PF account has accumulated around 1.5 lakh amount. This April i left job due to maternity issues. I have not decided yet i will continue my job in a year or two.(Depend upon my baby's situation). Kindly suggest should i withdraw my PF or stay it ideal in PF account? As per me Pf account interest rate is better than FD rates and interest is tax free too.
Harleen-If you not planned to continue, then better to withdraw. Otherwise, wait for a year or two then you can continue the same by quoting to your new employer.
Hi Basu,
Again i am troubling you with query.
I am changing my company is it good to continue the same PF account or withdraw the account amount?
The current PF account has acculmulated around 3.5 lakh amount and its been 7.5 years in my current company.
Is it good to withdraw that amount and invest in FD/NSC/Mutual? or to continue?
Few say if i withdraw the amount tax will be deducted? if i continue the same account do i get interest?
Please do let me know on the same.
Thanks
Vandana Sirakaje
Vandana-No issues :) Better to continue. Because it is a retirement product. However, treat this as debt product for your retirement corpus generation. Frequent withdrawal at each job may not be wise idea.
Thanks for your guidance:)
Vandana-Pleasure :)
sir I have UAN number but my Kyc and adhaar not updated by my previous employer and he is not interested to update in UAN portal so can I apply for pf.
Venkatesh-Raise this question in our Blog Forum. This post is not proper to raise your EPF issue.