PPF Investment Account: Deposit Rs 5000 in PPF Investment Account every month, make a profit of 16.25 lakhs, know all the details: Public Provident Fund is such a good scheme, which you can keep in mind as a savings option for a longer period term. The special thing about this arrangement is that you can invest in it in addition to finances such as SIP. Incidentally, many new ways of saving and investing have been added these days.
But even today, a large part of the country deposits its money in post offices. The Post Office (PPF Investment Account) is constantly attracting its customers with many arrangements. Here you can realize various savings options through financing, whereby you can achieve a smart return. That is why today we are telling you about the General Public Provident Fund Scheme (PPF Investment Account) of the Post Office (PPF Scheme).
PPF Investment Account
What is the Public Provision Fund?
Public Provident Fund is one such wonderful scheme that you can consider as a long-term savings option. The special thing about this arrangement is that, except for PPF investments, you can invest like SIP. Under this scheme, you can deposit up to Rs 1.5 lakh in one year.
You can earn a huge return during this scheme (PPF investment account)
The interest on this scheme (Public Provident Fund Scheme) is higher than FD or RD i.e. in this scheme (PPF Investment Account) you can get big returns by depositing a little cash every month. During this also on interest and maturity income. No tax is levied.
But will the post office PPF calculator work? (PPF investment account)
Let’s say you deposit 5,000 rupees into your PPF account every month, that is, you deposit 60,000 rupees within the whole year. An interest of 7.1 will be charged on this. Therefore (PPF investment account) if you deposit fifteen years in such situation, then your total investment will be nine 100000 rupees. At a constant time, your maturity is Rs 16.25 lakh and the interest amount is Rs 7.25 lakh.
Know the benefits of Post Workplace PPF
Under this scheme (Public Provident Fund) you can invest Rs 1.5 lakh in a major year. It can also run in twelve installments. If you want, you can also open a PPF account of your kids. Children under the age of ten can also open a PPF account (PPF Investment Account), which the elderly can settle themselves.
Not only that, if the plan expires after 15 years, you can extend it for another five years. There is no risk of losing money here. You can also borrow from the bank on the basis of this account. You do not have to pay tax on this money.
PPF . product options
Attractive rate of 7.1% per year that is fully tax-exempt under Article 80C of the Tax Act. Smart long-term investment for fifteen years. The deposit amount can be as low as Rs 500 and up to Rs 1,50,000 per financial year.
Money can be deposited in a maximum of twelve transactions per year. The loan can be entered into between the third to the sixth financial year. The option of partial withdrawal is available in the market from the seventh financial year. On the maturity date, the account can be extended in a block amount of 5 years.
Important points to note when making a difference in PPF account
According to Indian law, a person is only allowed to open one PPF account. The minimum deposit is five hundred rupees as the first deposit. NRIs cannot open a PPF account. You can visit the nearest SBI Bank branch and, if necessary, submit a request to update/change the registration.
Customers are forced to visit the branch to apply for bank account for online hole of PPF account.
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