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6/3/21

Apart from good interest and tax deduction, PPF account also has many features, in which you get these 5 special benefits.

Speaking of work:  Apart from good interest and tax deduction, PPF account also has many features, in which you get these 5 special benefits.







Apart from good interest and tax exemption, Public Provident Fund (PPF) also has many benefits that make it special from other schemes. The best thing about this plan is that it keeps your money completely safe. Apart from that you also get loan facility on PPF account. We are telling you about 5 special things.

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Guarantee of Government Security
PPF is directly regulated by the Central Government and its interest is also fixed by the Government, hence there is a guarantee of security when investing in the scheme. It is best to invest in PPF if you are looking for a good return with a tax deduction. Higher returns than PPF are available only in Sukanya Samrudhi Yojana and Senior Citizen Scheme. But not everyone can invest in it.

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The scheme is easy to operate. In
this scheme you have to invest a minimum of Rs. 500 in a year. A maximum of Rs 1.5 lakh can be invested in a year. Money can be deposited in 12 installments in a financial year.

Loan facility available on
PPF account You can also take a loan on deposit on PPF account. You are entitled to take a loan from PPF in the financial year in which you have opened a PPF account, from the end of the financial year to the end of the fifth financial year. If you have opened a PPF account in January 2017, you can take a loan from 1 April 2018 to 31 March 2022. A maximum of 25% loan can be taken on deposit. The effective interest rate for a loan is only 1% higher than the interest earned on PPF.

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Benefit of compounding interest
Investing in PPF is considered beneficial. This is because the interest earned on it is reviewed every three months. This means that if you get less interest in a quarter, you will get more interest in the next quarter. Apart from that, there is also the benefit of interest on compounding interest.

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You can invest as long as you want. The
maturity period of PPF account is 15 years. But you can extend it as long as you want. If money is not required, the account holder can extend his account after maturity. This will help you to create a bigger fund.

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