Many people do not have the necessary information related to PPF account, in such a situation, they keep going around the bank or post office. It is easy to reactivate this account upon opening or closing.
New Delhi: PPF ie Public Provident Fund is the most popular investment scheme in India. Through this, investments can be made for a long time, on which tax is exempt. The maturity period of investment in this is 15 years, which you can extend. This scheme is also very popular because the investors’ money is safe and it gives a good rate of return. PPF was introduced to the public in 1968 by the National Saving Institute of the Ministry of Finance.
As you all know that investing in PPF is very beneficial and safe, because the Government of India takes its guarantee. This account can be opened by applying to the bank or post office. The special thing is that only one PPF account can be opened. If you do not deposit the amount invested in it every month, then this account becomes inactive (closed). If your account is also closed in the crisis of Corona epidemic, then you can activate these methods by adopting them. However, you will also have to pay some penalty for this.
Such PPF account can be activated
To get the in-active PPF account reactivated, you will have to go through a process. First of all, you have to go to the branch of the bank or post office where you opened the account. Here you will be given a form to activate the account. In this, you have to fill your details and submit it at the respective counter. After this, arrears will have to be paid for every year. This minimum payment is 500 rupees. However, a penalty of Rs 50 will also have to be paid every year. If you assume that the account is inactive for five years, then you have to pay Rs 2250.
