What is the Public Provident Fund PPF Interest Rate 2023? How often the interest changes for PPF? What is the history of the Public Provident Fund or PPF interest rate from 1968 to 2023?
Public Provident Fund or PPF is one of the preferred products for many investors. In fact, I strongly advocate using this product as your debt part of the portfolio. It is 15 years product, with tax benefits at the time of investment and also at the time of maturity. Hence, consider this product only if your time horizon of the goal is more than 15 years.
I already wrote many articles about Public Provident Fund. Refer the same (list shared).
Public Provident Fund PPF Interest Rate 2023 (History from 1968 to Present)
Earlier the interest rates used to be announced on yearly once. However, from 2016-17 onwards, the rate of interest will be fixed on a quarterly basis. I already wrote a detailed post on this. I am providing the links to those earlier posts below.
Based on these new changes, now onward interest rate will be declared on a quarterly basis.
Below is the timetable for change in interest rates for all Post Office Savings Schemes.
Hence, from 1968 to 2016, the interest rate of public provident fund used to be changed on a yearly basis (or sometimes based on the economic policy). But from 2016 onwards, it is on a quarterly basis.
Let us now look into the Public Provident Fund PPF Interest Rate 2023 (History from 1968 to Present).
| PPF Interest Rate History from 1968 to Present | |
| Period | Interest Rate |
| 2nd Quarter of 2023-24 | 7.10% |
| 1st Quarter of 2023-24 | 7.10% |
| 4th Quarter of 2022-23 | 7.10% |
| 3rd Quarter of 2022-23 | 7.10% |
| 2nd Quarter of 2022-23 | 7.10% |
| 1st Quarter of 2022-23 | 7.10% |
| 4th Quarter of 2021-22 | 7.10% |
| 3rd Quarter of 2021-22 | 7.10% |
| 2nd Quarter of 2021-22 | 7.10% |
| 1st Quarter of 2021-22 | 7.10% |
| 4th Quarter of 2020-21 | 7.10% |
| 3rd Quarter of 2020-21 | 7.10% |
| 2nd Quarter of 2020-21 | 7.10% |
| 1st Quarter of 2020-21 | 7.10% |
| 4th Quarter of 2019-20 | 7.90% |
| 3rd Quarter of 2019-20 | 7.90% |
| 2nd Quarter of 2019-20 | 7.90% |
| 1st Quarter of 2019-20 | 8.00% |
| 4th Quarter of 2018-19 | 8.00% |
| 3rd Quarter of 2018-19 | 8.00% |
| 2nd Quarter of 2018-19 | 7.60% |
| 1st Quarter of 2018-19 | 7.60% |
| 4th Quarter of 2017-18 | 7.60% |
| 3rd Quarter of 2017-18 | 7.80% |
| 2nd Quarter of 2017-18 | 7.80% |
| 1st Quarter of 2017-18 | 7.90% |
| 4th Quarter of 2016-17 | 8.00% |
| 3rd Quarter of 2016-17 | 8.00% |
| 2nd Quarter of 2016-17 | 8.10% |
| 1st Quarter of 2016-17 | 8.10% |
| 2015-16 | 8.70% |
| 2014-15 | 8.70% |
| 2013-14 | 8.70% |
| 2012-13 | 8.80% |
| 1st Dec 2011 to 31st March 2012 | 8.60% |
| 1st March 2003 to 30th Nov 2011 | 8% |
| 1st March 2002 to 28th Feb 2003 | 9% |
| 1st March 2001 to 28th Feb 2002 | 9.50% |
| 15th Jan 2000 to 28th Feb 2001 | 11% |
| 1st April 1999 to 14th Jan 2000 | 12% |
| 1st April 1986 to 31st Mar 1999 | 12% |
| 1985-86 | 10% |
| 1984-85 | 9.50% |
| 1983-84 | 9% |
| 1982-83 | 8.50% |
| 1981-82 | 8.50% |
| 1980-81 | 8% |
| 1979-80 | 7.50% |
| 1978-79 | 7.50% |
| 1977-78 | 7.50% |
| 1976-77 | 7% |
| 1975-76 | 7% |
| 1st Aug 1974 to 31st Mar 1975 | 7% |
| 1st April 1974 to 31st July 1974 | 5.80% |
| 1973-74 | 5.30% |
| 1972-73 | 5% |
| 1971-72 | 5% |
| 1970-71 | 5% |
| 1969-70 | 4.80% |
| 1968-69 | 4.80% |
The same can be shown in a graphical manner from the below chart.
You noticed that during 1986 to 2000 period was the golden era for PPF as the interest rate was more than 10%. However, we must not ignore the inflation and interest rate cycles also.
Conclusion – Even though nowadays interest rate changes on a quarterly basis and this interest rate risk and liquidity are major concerns for the PPF, I still insist you use PPF as a debt part of your goals which are more than or equal to your PPF maturity date.
