The Central Government runs a variety of programs for the middle class. You receive safety assurance and significant returns when you invest in these. By making a long-term investment in something, you can also earn substantial profits. PPF, or the Public Provident Fund, is another of these programs. You must remember the fifth of every month if you have invested in PPF (Public Provident Fund). Yes, you will benefit more from your investment if you keep the fifth date in mind. Also, the Centre has provided information about this.
Money must be deposited by the 15th
If you invest in PPF, you should be aware that deposits must be made by the 15th of the month. You won’t receive interest for that month if you don’t do this. PPF deposits are limited to Rs. 1.5 lakh each year. Please be aware that you will not receive the interest for the month if you deposit money into a PPF account around the 20th. You will receive even greater benefits from your deposit if you make it on or before April 5.
PPF interest rate
Based on a review completed by the Ministry of Finance in the June quarter, PPF is now receiving interest at a rate of 7.1 percent annually. For a very long time, the Finance Ministry did not alter the PPF interest rate. Let us inform you that interest is added in the same month regardless of the minimum balance between the fifth and the last day of each month. Money deposited after May 5th will earn interest for the following month.
What number of accounts may be created?
Tell you that only one individual may open an account with the Public Provident Fund if you wish to do so. According to the government’s policy, any additional PPF accounts registered after December 12, 2019, would be terminated if you already manage two accounts. A similar account will not be granted any interest. The government also forbids the merging of numerous PPF accounts in addition to this.
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