PPF Scheme Update: The general public is getting the benefit of many government schemes from the Central Government, but if you have also opened your PPF account, then there is good news for you.
PPF Scheme Latest Update: The general public is getting the benefit of many government schemes from the Central Government, but if you have also opened your PPF account, then there is good news for you. Now after maturity, you are going to get a big benefit in the Public Provident Fund. The government has given information about this. So you must also know about this before opening your account-
Getting Mot Interest
PPF is a kind of tax saving and better return scheme. Through this scheme, you get the benefit of lakhs on maturity. The PPF scheme was launched in 1968 through the National Savings Institute of the Ministry of Finance. At present, this scheme is getting the benefit of interest at the rate of 7.10 percent.
Interest rates are linked to bond yields LetÂ
us tell you that the interest rates on PPF are linked to the 10-year government bond yield. The interest rate on PPF is decided at the beginning of the quarter based on the average bond yield in the last three months.
What will happen if the money is not withdrawn?
Let us tell you that if you do not withdraw your money from your PPF account after maturing after 15 years, then the account will be extended by default. Your PPF corpus will continue to attract interest over an extended period decided by the government.
These benefits will be available on maturity after 15 years
>> When your PPF account matures, the first option you have is that you can choose to close the account and withdraw the entire amount.
>> The other option you have is not to close your account and after maturity extend the tenure in blocks of 5 years without any fresh deposit.
>> The third option for you with a matured PPF account is that you can extend the tenure with fresh deposits. Again the tenure can be extended for a block of 5 years.
Money is deposited once a month,
you can invest up to Rs 500 in PPF in at least 1 year, if you deposit up to Rs 1.5 lakh in PPF in 1 year, then you get the benefit of tax exemption. So you can deposit money every month in this.
