The minimum amount of money can be deposited in this account 1 time and maximum 12 times in 1 year. You can deposit at least 500 rupees in 1 time in a year and up to 1.5 lakh rupees in maximum 12 times.
Whether you do a job or any of your employment, saving in every situation is very important. When suddenly there is a need for big money, it is difficult to say. That’s why saving is a good habit. If you are saving, it is also important that it be invested in the right scheme.
The 2 most important things are kept in mind while investing. The first is to keep your money safe and second, to get a better return on your investment. In both these terms, PPF i.e. Public Provident Fund (PPF) is a more secure and more interest paying government scheme in the country.
Account can be opened for 500 rupees, tax rebate
An account can be opened in this scheme for only 500 rupees. If at least 500 rupees are deposited in the year, then this scheme continues. Initially this PPF account is for 15 years. After 15 years, if you want, you can withdraw the entire money with interest. But if not very important, then you can also increase it for the next 5 years.
PPF: know how to get interest of 18 lakh rupees
You also get an exemption in income tax on the money deposited in PPF. If you want to take full advantage of PPF account, then you can prepare huge capital by depositing money in it regularly.
Account can be opened in post office or bank
You can open PPF account in post offices and authorized branches of banks. In the beginning it is opened for 15 years. The minimum amount of money can be deposited in this account 1 time and maximum 12 times in 1 year. You can deposit at least 500 rupees in 1 time in a year and up to 1.5 lakh rupees in maximum 12 times. The government fixes the interest rate in the PPF scheme every three months. Currently, 7.1 percent interest is being paid on PPF account.
Scheme can be extended even after 15 years
The PPF account can be opened initially for 15 years, but if you want, you can keep this account extended even after 15 years. After completion of 15 years, you can extend it for the next 5 years. If you want to increase it even after 20 years, you can increase it again for 5 years. The longer you increase it, the more benefit you get.
How much money is deposited in a PF Account, you can easily know these four ways
By investing Rs 9000 every month, you will get Rs 1.11 crore
1. Will invest 9000 rupees a month in PPF i.e. Rs 1,08,000 a year
2. Total investment will be Rs 16.20 lakhs in 15 years
3. On this investment you will get total interest of around Rs 13.09 lakhs
4. That is, in the end of 15 years After this, the total will be Rs 29.29 lakhs
5. If you run an account for 20 years, you will get around Rs 47.94 lakh
6. If you run an investment for 25 years, you will get around Rs 74.21 lakh
7. Whereas, if you run an investment for 30 years, you will get around Rs 1.11 crore.
If you want to withdraw money in the middle….
PPF account can be opened both single and joint. Anyone investing in this account can become a nominee. PPF account can be transferred from bank to post office and from post office to bank also. If you need money in between, you can withdraw money anytime after the 7th year.
