Take into account your cash flow needs before making a lump-sum investment in this illiquid instrument
Retirement fund body EPFO on Saturday fixed a three-year high interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2023-24. In March 2023, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over six crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. "The EPFO's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.25 per cent rate of interest on EPF for 2023-24 at its meeting on Saturday, a source said. The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021. After the CBT's decision, the interest rate on EPF deposits for 2023-24 will be sent to Ministry of Finance for concurrence. After th
Are you planning to invest in 2024 to protect yourself when the world is facing a recession? If yes, here are the top 5 investment options in 2024
If you have an inactive PPF account, then you will be deprived of many benefits. You have to deposit Rs 500 each year to keep it activated. Here are the steps to activate your dormant account
Stop fresh investments in ELSS and Ulip; decision to exit post lock-in should depend on performance
The interest rate on the Public Provident Fund has yet again been kept unchanged at 7.1%
The government on Friday hiked the interest rates on small deposits -- including post office term deposits, NSC and senior citizen savings scheme -- by up to 1.1 percentage points from January 1, in line with firming interest rates in the economy. However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi has not been changed. National Savings Certificate (NSC) will yield a 7 per cent interest rate from January 1, compared to 6.8 per cent at present. Similarly, the senior citizen savings scheme will give 8 per cent interest against 7.6 per cent currently. Interest rates on Post office term deposit schemes of duration 1 to 5 years will rise by up to 1.1 percentage points. The monthly income scheme too will yield 7.1 per cent interest, up from 6.7 per cent.
Senior Citizens' Savings Scheme remains a must-have for those who need regular cash flows after retirement
Auditor's report alleges fraudulent withdrawals, forgery, cheating in postal circles across India
Maharashtra has also seen an increase in net collections in recent years
One significant point investors must remember while investing in PPF is that they must put in the money at the right time to maximise the return they earn from it.
Counter the cut in EPF rate with an asset-allocated retirement portfolio and using instruments like NPS
While govt's market borrowings have doubled from FY16 to FY22, NSSF loans to finance fiscal deficit have grown 11x
Those working in the private sector don't have retirement benefits like pension. The retirement corpus they build over the years is through provident fund (PF). But what are PF and PPF? Let's find out
Those earning high salaries should think twice before getting it restructured
In 2017-18, West Bengal accounted for 15 per cent of the total contributions made to the NSSF; its share increased from 12.4 per cent in 2007-08
The rate of interest on PPF has declined from 7.1 per cent earlier to 6.4 per cent now
Costlier loans from NSSF, at 7.4% interest rate, will occupy more than 10% share in govt's outstanding public debt soon, all to give the small saver a higher interest rate than the market
Collections by small savings schemes crossed Rs 1 trillion in April-September for the first time
Gold, fixed income do well; Nifty50 stocks do not compensate for extra risk