PPF And Sukanya Samriddhi Interest rate reduced from 1st Oct. 2016

As per govt notification issued on Sep 29, 2016, the interest rate on Public provident fund (PPF) and Sukanya Samriddhi account has been changed mid year.

For the third quarter starting 1st Oct 2016, PPF interest rate has been reduced to 8.0% from earlier 8.1%. Similar for Sukanya Samriddhi account (SSA), interest rate has been reduced to 8.5% from earlier 8.6%.

Here is a quick summary in tabular format.

Scheme Name Interest: Apr 2015-Mar 2016 Interest: Apr 2016 - Sep 2016 Interest: Oct 2016 - Dec 2016
Public Provident Fund (PPF) 8.7 8.1 8.0
Sukanya Samriddhi account (SSA) 9.2 8.6 8.5
Category: finance