PPF account matures in 15 years. But if you want, it can be extended for the next 5 years by filling a form. Any PPF account can be extended for 5-5 years and run for a maximum of 50 years. PPF account can be opened in any bank.
Post Office PPF Schemes: To provide financial security to the common people of the country, the central government is running many types of savings and investment schemes. PPF i.e. Public Provident Fund is one of these investment schemes. The central government is currently giving an annual interest of 7.1 percent on PPF. Money has to be deposited in a PPF account at least once a year. If you want, you can invest a lump sum in a PPF account in a year or you can also deposit money in installments. A minimum of Rs 500 and a maximum of Rs 1.50 lakh can be deposited in a PPF account in a year.
PPF account matures in 15 years
PPF account matures in 15 years. But if you want, it can be extended for another 5 years by filling a form. Any PPF account can be extended for 5 years each and run for a maximum of 50 years. PPF account can be opened in any bank. If you want, you can also open a PPF account by going to your nearest post office. If you deposit Rs 50,000 every year in your PPF account, then after 25 years you will get a total of Rs 34,36,005. Let us tell you that this includes Rs 12,50,000 of your investment and Rs 21,86,005 of interest.
Every penny deposited in PPF account is safe
As we told you that PPF is a government scheme. Therefore, every penny deposited in this account is completely safe. You get fixed and guaranteed returns on PPF account. Let us tell you that after opening a PPF account, you cannot withdraw money before 5 years. Not only this, even after 5 years, money can be withdrawn from PPF account only in certain circumstances like serious illness, children’s education. You can also get loan facility with PPF account.
Disclaimer: This story is for information only. Consult your financial advisor before investing.
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