On March 31, significant funds will enter your account if you have additionally created a PPF account. The Central Government has given significant news for PPF account holders. Investors in the Public Provident Fund will now get significant government benefits.
You currently benefit from interest
in this scheme at a rate of 7.1 percent. The unique feature is that you gain from a compound interest in this situation.
The Ministry of Finance sets interest rates annually,
which are paid on March 31. In other words, the government will deposit money into your account this time on March 31. We’ll tell you that every month’s interest is calculated on the fifth day.
Let us inform you that a person can begin this scheme with 500 rupees.
You can only invest a total of Rs 1.5 lakh in it during the financial year. Also, after a set amount of time, PPF offers the benefit of loan and partial withdrawal options.
You benefit from the PPF’s tax exemption.
The money received at maturity, and the interest earned on this, and both are entirely tax-free.
PPF investments must be made for 15 years.
However, when that time has passed, you can only withdraw your money. The PPF account has a partial withdrawal option, which is available as of the seventh fiscal year.
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