PPF investment: PPF account holders can withdraw money even after 6 years, and can also extend its period after maturity.
PPF investment: PPF or Public Provident Fund is a very popular tax saving scheme. Many people invest in this scheme of Government of India for better returns. Apart from many specialties, the advantage of investing in it is that there is no risk in it. Being a central government scheme, it gives guaranteed returns.
One can invest in this with an amount of only Rs 500. At the same time, a maximum of Rs 1,50,000 can be invested in this, whose maturity is 15 years. Another advantage of investing in this is that the account holder can take a loan at the nominal interest rate in an emergency. Its interest rate is only 1 percent per annum. But the PPF account holder can take advantage of it only in three to six years of opening the account. Even though its maturity period is 15 years but account holders can withdraw money even after 6 years. At the same time, after maturity, its duration can also be increased.
Tax benefit
PPF account holders can save tax annually on investments up to Rs 1,50,000. The interest earned in this is exempted under section 80C of Income Tax. At the same time, after maturity, a person can withdraw his entire amount without tax. Its interest rate changes from time to time, currently it is 7.1 percent. The special thing is that in the government’s fixed income scheme, those who have the highest interest rate also have PPF.
Can open account online
To open a PPF account, go to the net banking interface of the bank and go to the option of opening a PPF account. Here enter all the details related to the bank and the nominee. After verification of all the information, your account will be opened. With this, now you can invest in it.
Can merge more than one account
Some people unknowingly open more than one PPF account. They must have opened PPF accounts in two different banks or post offices and also in one bank. The Department of Posts has issued a circular recently, in which the process of merging multiple PPF accounts into a single PPF account has been told.
