In this difficult time of Corona, crores of people are struggling with financial problems. In such a situation, they are thinking about taking a low interest rate loan to overcome financial trouble.
PPF Loan: For more than a year, the country and the world have been battling the corona epidemic. Till date, crores of people in the country have lost their jobs due to corona and lockdown. In such a situation, an economic crisis has arisen in front of them. All the people are trying to take a loan to overcome their problems. If you are investing in Public Provident Fund (PPF), then you can take a loan from PPF account at a very low interest rate.
How much can you get a loan from a
PPF account? You can apply for a loan from a PPF account only when your account is one year old. You can take a loan up to 25% of the deposit of your account. In such a situation, if there is more deposit in your account, then you will be entitled to take more loan.
How much will be the time and interest rate on
PPF account, you get a loan for maximum 36 months i.e. 3 years. You get this loan at an interest rate of 1%. The special thing is that if you do not deposit your loan amount within the stipulated time, then you will have to return the money with an interest rate of 6%. You can get a loan from this account only once in a year. Only after depositing the entire amount, you will be able to apply for the loan for the second time.
How to repay
the loan You will have to return the principal first. You can do this in a monthly installment. Apart from this, interest can be deposited in two installments or in one go. On the other hand, if you do not deposit interest after depositing the principal, then that amount will be deducted from your PPF account.
Know what is the process?
To take a loan from a PPF account, you have to go to the place where your account has been opened. There, you can apply for the loan along with all the documents of your PPF account, Aadhaar card, PAN card and other important documents. For more information about this, you can go to PPF website or contact on the helpline number.
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