Public Provident Fund Scheme: Invest in PPF by THIS DATE to get maximum returns

PPF account: Public Provident Fund (PPF) remains one of the preferred investment tools for people across the country. It is one of the popular investment options for salaried employees and businessmen, primarily because the deposit qualifies for deduction under section 80-C of I.T Act. Interest earned in the PPF account is free from Income Tax under Section -10 of I.T Act. One can maximise gains simply by being a little careful while depositing money each month.

PPF Calculator: Deposit money by THIS date

The interest on PPF deposits is calculated every month, and there isn't a specific due date by when investors should deposit money in a PPF account. However, experts suggest that it is beneficial to deposit money before the 5th of every month. 

This is because interest is calculated on the lowest balance in the PPF account after the 5th of every month to the last day of the month. And maintaining highest balance on the 5th of every month would ensure maximum gains from the investment.

Also, read- Want to close PPF account before maturity? Here is your step-by-step guide

How to deposit money online in PPF Account?

-Deposit PPF money from ECS Mandate

One may set an Electronic Clearing System (ECS) mandate. Through this, a fixed amount can be automatically transferred from the bank account to the PPF account within the stipulated time.

To initiate the process, the account holder will need to visit the nearest bank branch and sign the ECS mandate form and submit it to the respective bank.

-PPF: Can be deposited from NEFT

National Electronic Funds Transfer (NEFT) is a nation-wide centralised payment system owned and operated by the RBI. 

This can be used through a net banking facility. To deposit money in PPF through this medium, one will need to have their PPF account number and the IFSC code of the bank branch in which one has a PPF account. With NEFT, one can transfer money in no time.

-PPF Calculator: Standing instruction 

Standing Instruction is where one can ask the bank to debit and transfer money from the bank (savings/current) account to the PPF account, held with the same bank.

One needs to note that a minimum deposit of Rs 500, and maximum deposit Rs 1,50,000 is allowed in a financial year.

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