PPF account takes place in 15 years
Post Office PPF Schemes: The central government is running a variety of savings and investment schemes to provide financial security to the common people of the country. PPF i.e. Public Provident Fund, one of these is an investment plan. The central government is currently paying an annual interest of 7.1 percent on PPF. PPF account has to deposit money at least once a year. If you want, you can invest outright in PPF account in a year or you can deposit money in installments. PPF account can be deposited at least Rs 500 and maximum Rs 1.50 lakh in a year.
PPF account takes place in 15 years
The PPF account gets matured in 15 years. But if you want, it can also be extended for the next 5 years by filling a form. Any PPF account can be extended for 5-5 years to maximum 50 years. PPF account can be opened in any bank. If you want, you can also open a PPF account by going to your nearest post office. If you deposit Rs 50,000 every year in your PPF account, then after 25 years you will get a total of Rs 34,36,005. Let us tell you that it includes Rs 12,50,000 for your investment and Rs 21,86,005 of interest.
PPF account safe
As we told you that PPF is a government scheme. Therefore, your money deposited in this account is completely safe. You get fix and guaranteed returns on PPF account. Let us tell you that after opening a PPF account, you cannot withdraw money before 5 years. Not only this, even after 5 years, money can be withdrawn from PPF account only for certain circumstances such as serious illness, children. Along with PPF account, you can also get a loan facility.
Disclaimer: This story is only for information. Before investment, consult your financial advisor.
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