In your article you say "Interest is calculated on the lowest balance between the fifth and the last day of the month of March. So make all your deposits before March 5. But don't do so way in advance. Put your money in a bank fixed deposit that matures by February. On maturity, put it in the PPF account. This way, your money works harder for you. "
This is wrong. Though interest is credited to your account in March, it is calculated on monthly basis. Instead of getting 4-5% on fixed deposites, it is better to deposit money in PPF and get 8%
RE:Wrong Information
by Test on May 18, 2005 04:23 PM Permalink
Hi, The information is correct . Govt claim its 8 % . But end of year is is only 6.7 % since its calculated between 5 the to 30 th . Its not worth ....
