If you also want to get more benefit under less risk, then PPF is the best scheme for you. By opening a PPF account with Punjab National Bank, you can also get tax free returns with attractive interest.
New Delhi: PPF is the best scheme for you if you also want to get more benefit at less risk. By opening a PPF account with Punjab National Bank, you can also get tax free returns with attractive interest. PPF gets the highest interest as compared to other funds. Punjab National Bank has given information about this by tweeting. The bank has written in the tweet that to get attractive interest and tax-free returns, open your Public Provident Fund PPF account. For more information, click: https://tinyurl.com/ssnheez
PPF account for income tax rebate
PPF is a central government scheme. This is the reason that it also provides low risk guarantee with better returns. PPF account holder can invest a maximum of Rs 1.5 lakh in a financial year. In addition, they also get the benefit of tax exemption under section 80C of Income Tax Act.
— Punjab National Bank (@pnbindia) January 17, 2021
Who can open an account in PPF You can open a PPF account in your name or as the guardian of a minor.
How much can you invest ?
If you talk about investing in this account, then you can deposit a minimum of 500 rupees. Apart from this, you can invest up to 1.5 lakh rupees annually. Apart from this, investments can be made through maximum 12 transactions. If you invest more than 1.5 lakhs, you will not get any kind of interest nor will you get tax benefits on the extra amount.
What is the maturity period
Talking about the maturity period, its duration is 15 years, but you can also increase it. Once applied, you can extend it for 5 years.
How much will be the interest?
Talking about the interest rate, at present the interest rate of 7.1 percent is being given. Let us know that interest is paid every year in the month of March.
Where can I open an account?
You can open this account in Post Office, State Bank of India, Punjab National Bank, Canara Bank, ICICI Bank, HDFC Bank.