PPF Account: Public Provident Fund Scheme has crores of account holders across the country. By investing in this scheme, you get the benefit of tax exemption along with strong interest rate.
Public Provident Fund: Public Provident Fund Scheme is a long term investment scheme in which you can get the benefit of strong returns over a long period of 15 years. Under this scheme, you can invest from Rs 500 to Rs 1.5 lakh on an annual basis.
If you are also a PPF account holder, then know that if you have also made some mistakes, then your account may also become inactive. Know about this.
Any person is allowed to open only one PPF account. If you open your child’s PPF account, then only one of the parents should open the account for the child. Both cannot open the PPF account of the same child simultaneously.
There is a limit of simultaneous investment of only Rs 1.5 lakh in PPF account. If you invest more than this in a financial year, then in such a situation the account can be deactivated.
PPF account cannot be opened as a joint account. If you do this then the bank or post office puts this account in the category of inactive.
If you continue the PPF account after 15 years, then definitely inform the post office or bank. If you continue the investment even after 15 years without any information, then such account will be put in the category of inactive.
