According to a report,Finance Ministry recently said that subscribers of PPF can prematurely close the deposit scheme after completion of five years. It could be withdrawn for the reasons such as higher education or expenditure towards medical treatment.
Notably, the Finance Minister kept the interest rates unchanged for various small savings for July- October quarter of 2016- 17. It has been fixed at 7.1 percent.
Apart from it , the interest rate on two year, three year time deposit and five year deposit were kept 7.2 percent, 7.4 percent, 7.9 percent respectively.
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