Sukanya Interest Rate: Now more than one PPF and Sukanya accounts will get simple interest
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If you have more than one account of Public Provident Fund (PPF), Sukanya Samriddhi Account (SSA), Mahila Samman Yojana, you will be able to avail the benefit of normal interest rate only.
At the time of maturity, you will be able to avail the maximum interest on only one account.
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Investors will be disappointed with the new system being implemented by the Union Finance Ministry from October 1. If you have opened more than one account in big savings schemes, you may incur loss instead of profit.
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In schemes with high interest rates, except for one, the remaining accounts will get refund at simple interest rate. The Postal Department has issued a guideline on the instructions of the Finance Ministry.
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