PPF Investent: There are many investment options available in India today. Out of all the investment options, even today people like to invest money in government schemes. If you want to invest for the long term and are looking for an investment option, then you can think of investing in PPF (Public Provident Fund). Investors can invest in PPF for a period of 15 years. There are two advantages of investing in PPF, one is attractive interest is available on it and secondly it also provides tax exemption. Low risk takers invest in PPF for better returns and saving for future needs.
Money can be withdrawn after maturity
The maturity period of the investment in the Public Provident Fund Scheme is 15 years. (Public Provident Fund Maturity Period) When you have invested for 15 years, then you have to give an application to your bank and inform that your PPF investment has matured. Along with this you have to submit a canceled check along with an application form. After verifying all your details, the bank will transfer the PPF amount to your given savings account. Make sure not to make any mistake while filling the details.
Investment period can be increased even after maturity
All investors should know that if the investor continues to invest after the completion of the maturity period of the PPF scheme, then you can do so. The government allows the investor to extend the investment tenure by 5-5 years, but in order to do so, the investors will have to comply with certain conditions. To do this, you will have to write the application and give the information before the maturity period is over.
Better returns are available in PPF
To start investing in PPF scheme, you can open an account (PPF ACCOUNT) in any nearest bank or post office. Investors are allowed to invest a minimum of Rs 500 to Rs 1.5 lakh every year in a PPF account. Right now the government is offering an interest rate of 7.1 percent.
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PPF is it necessary to withdraw money on maturity know what are the rules
There are many investment options available in India today. Out of all the investment options, even today people like to invest money in government schemes.
Story first published: Thursday, November 10, 2022, 17:53 [IST]