PPF Account Details: If you are planning to invest, then this news is for you only. Today we will tell you about PPF Account. Investing here not only gives you good interest, but also helps in tax exemption. Also, there is no tension of risk here. This is a government scheme. Money can also be withdrawn from it if needed.
Account can be opened with Rs 500
If you want to open a PPF account, then for this you have to go to the bank or post office. This is a government savings scheme, so the interest rate is decided by the government. PPF account can be started with only Rs 500. In PPF account, you have to deposit at least Rs 500 every year. It is not necessary that you submit it in one go. You can also deposit it little by little, as per your convenience.
Have to invest at least Rs 500 every year
Investing in PPF account earns 7.1 percent interest annually. Its maturity period is 15 years. If you do not deposit Rs 500 in a year, then your account is put in the category of default account. To make it active again, the remaining amount has to be deposited along with a penalty of Rs 50.
You can invest even after 15 years
On completion of 15 years of PPF account, you get back the entire money, including deposits and interest. But, if you do not need the money at that time, then you can carry it forward for the next 5 years also. You can continue this work even while depositing money further and, even after stopping depositing money, you can continue the account. After that again you can get it extended for another 5 years.
Will get back up to Rs 40 lakh
The PPF account gets maturity on completion of 15 years. At this time you get up to 40 lakh rupees. Let us tell you how much return you will get on investment of Rs.
- On depositing 1000 rupees a month – 3 lakh 15 thousand 572 rupees will be available
- On depositing Rs 2000- Rs 6 lakh 31 thousand 135 will be available
- On depositing Rs 3000 – Rs 9 lakh 46 thousand 704 will be available
- On depositing Rs 4000- Rs 12 lakh 72 thousand 273 will be available
- On depositing Rs 5000 – Rs 15 lakh 77 thousand 841 will be available
- On depositing Rs 10000- 31 lakh 55 thousand 680 will be available
- On depositing Rs 12000 – Rs 37 lakh 86 thousand 820 will be available
- On depositing Rs 12250 – Rs 39 lakh 44 thousand 699 will be available
