PPF Investment Latest Rules: Don't want to get PPF extension or withdraw money on maturity? Will government pay interest on your deposited amount? Know here
PPF: Employed, self-employed, unemployed, or retired can open a PPF account. Investors can also withdraw money from their accounts whenever they want.
A public provident fund (PPF) is a long-term savings scheme that has a minimum tenure of 15 years. You can extend it in a block of five years.
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How much can you contribute to PPF?
You can invest between Rs 500 to Rs 1.5 lakh annually in PPF.
Benefits of PPF
PPF accounts have good interest rates and also provide tax benefits.
Who can open a PPF account?
Employed, self-employed, unemployed, or retired can open a PPF account.
What happens if you don't withdraw money after maturity?
The money will remain safe even after maturity in PPF. You will also get interest and tax benefits.
Partial exit from PPF
Investors can also withdraw money from their accounts whenever they want. They can also withdraw the entire amount and as per their need, they can withdraw some money and leave it in the account and avail interest on it.
Can I extend my PPF?
If you want to take full advantage of the interest rates of PPF, then you can extend the account any number of times by continuing the contribution to the scheme. But every time your extension will be in a block of 5-5 years. Meaning, that once the extension is done, it will be extended for five years.
How to extend PPF?
If you want to extend PPF while maintaining the contribution, you will have to apply to the bank or post office where the account is maintained. You will have to give this application before completion of one year from the date of maturity and fill out a form for extension. The form will be submitted to the same post office/bank branch where the PPF account has been opened.