The minimum deposit to be invested in PPF is Rs.500. PPF or public deposit funds are one of the most popular savings plans despite interest rates declining. Interest rates for PPF and other small savings schemes have been revised every quarter since April last year compared to the previous year's system.
Investors who invest in PPF are receiving interest rate of 7.8%. PPF and other small savings schemes will have the ability to generate returns in government bonds.
PBF receives EE or tax exemption for tax deductions - Contribution, interest and maturity period is tax free.
A PPF account per person
Except for a child's account, an individual can maintain only one PPF account. Joint accounts can not be opened.
Who can start the account?
An account can open an account on behalf of a child. But maximum annual contribution to all accounts should be 1.5 lakh.
Minimum amount
According to the Indian Post Office website, a minimum of Rs. 100 must be.
Minimum investment
Minimum deposit to be kept in PPF account in a financial year is Rs. 500 and maximum of Rs. 1.5 lakhs. If a customer fails to deposit funds in a financial year, 50 will be imposed fine. BPF deposits in a financial year may exceed a maximum of 12 transactions.
Maturity period
The maturity period of PPF account is 15 years. But can be extended for a period of 5 years or more within a year of matured. This account may be transferred from one authorized bank or post office to another. In such a case the PPF account will be considered as a continuous account.
Fined
PPF subscribers have a minimum of Rs. If you fail to pay 500, that account will be deemed closed. In such cases the subscriber will not be authorized to lend or withdraw money from the bank unless the account is renewed. Subscriber can not open another account in addition to an account terminated.
Do you want to resume the investment after stopping?
A PPF Subscriber will renew the account which has been renewed annually. 500 per annum per year You can refund the account by paying 50 fine.
When can debt be obtained?
A PPF depositor will be eligible for loan from 3rd year on account of the account. 25% of the outstanding balance will be available at the end of the financial year. Interest rates on BPL interest rate above the rate of 2 per annum. The loan will be repaid within 36 months.
Receipt partial cash
According to the website of the Indian Postal Department, from the 7th year after the commencement of the account, the amount is allowed to be withdrawn each year. At the end of the fourth year, the amount of money that was withdrawn at the end of the preceding year or previous year is limited to 50% of the amount that is less
Method of making money before maturity
According to the 2016 Amendment, the account will be completed in advance for the first five years of financing and under certain circumstances towards medical treatment. 'Only if a subscriber is provided with supporting documents from a qualified medical officer on the basis of the account of the account holder or the account of the child who is the guardian of that account holder or the cost of treatment of the life partner or child's serious diseases or the cost of treatment of life-threatening illnesses. Before the maturity is allowed to close in advance. ' "The Finance Ministry said in a statement.
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