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babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. Public Provident Fund or PPF is a popular investment option that offers assured returns with government guarantee.

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PPF Interest Rate: The interest rate for the PPF is set by the Ministry of Finance on a quarterly basis, so it can change every three months.

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. At present the PPF interest rate stands at 7.1% Interest is calculated based on the lowest balance in your PPF account between the close of the 5th day and the end of the month.

The interest earned is credited to your account at the end of each financial year.

(Image source: Freepik)

To open a Public Provident Fund (PPF) account, you must deposit at least Rs 500 in a financial year, but you can deposit up to Rs 1.5 lakh.

This maximum limit applies to your own account and any accounts you have for minors.

You can deposit in multiple installments, as long as each is at least Rs 50, with a total limit of Rs 1.5 lakh for the year.

Public Provident Fund Calculator: At the current interest rate of 7.1%, if you invest the maximum amount of Rs 1.5 lakh in a lump sum installment, then at the end of 15 years you will get a corpus of Rs 40,68,209/- at maturity.

This includes your investment of Rs 22,50,000/- and the interest of Rs 18,18,209/- ()

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. A PPF account can be opened by a single adult resident in India or by a guardian on behalf of a minor or a person with an unsound mind.

Note that only one PPF account can be opened nationwide, either in a Post Office or in a bank.

PPF Tax Benefits: Deposits made into a PPF account qualify for deductions under Section 80C of the Income Tax Act.

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. Additionally, the interest earned and the maturity amount are tax-free.

This makes PPF a EEE or Exempt, Exempt, Exempt investment product.

(Image source: Freepik)

You can take a loan from your PPF account after one year from the end of the financial year when you first opened the account.

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The maximum loan amount is 25% of the balance in your PPF account at the end of the second year prior to the year in which you apply for the loan.

You can take only one loan in a year and a second loan cannot be taken till the first is repaid.

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. A Public Provident Fund account subscriber can make one withdrawal per financial year after a minimum of five years from the end of the financial year in which you opened the account.

The maximum amount you can withdraw is 50% of the balance at the end of either the fourth preceding financial year or the most recent financial year, whichever is lower.

To illustrate, if you make a withdrawal in the 2016-17 financial year, you can withdraw up to 50% of your balance as of March 31, 2013, or March 31, 2016—whichever amount is smaller.

Premature closure of a PPF account is allowed, but only after five years from the end of the year when the account was opened, and only in specific cases.

You can close your PPF account early if you, your spouse, or your dependent children are diagnosed with a life-threatening illness, if you or your dependent children require funds for higher education, or if your residency status changes, such as when you become a Non-Resident Indian (NRI).

If you choose to close your account prematurely, a 1% penalty on the interest is deducted, calculated from the date the account was opened or extended.

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. A PPF account matures after 15 years, not counting the year it was opened.

When it matures, you have three options.

You can close the account and withdraw all your money by submitting an account closure form and your passbook to the post office.

Or, you can keep the account open without additional deposits, continue earning interest, and withdraw money at any time or once per financial year.

babl babylonfinance in india ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income. Alternatively, you can extend the account for another five-year period, and keep extending it every five years; just submit the extension form to the post office within a year of the account's maturity.

PPF Account Discontinuation: If you don't deposit at least Rs 500 in a financial year into your Public Provident Fund (PPF) account, it will be considered discontinued.

When your account is discontinued, you can't take out loans or make withdrawals from it.

However, you can reactivate a discontinued PPF account by depositing at least Rs 500 plus a default fee of Rs 50 for each year you missed.

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If the holder of a PPF account dies, the account must be closed, and the nominee or legal heirs cannot continue making deposits into the account.

When the account is closed due to the account holder's death, the interest rate applicable to PPF is paid until the end of the month before the closure.

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