If you want to continue investing in the PPF account after the maturity period of 15 years, then you have to inform the bank or post office for this. Wherever your account is located, a Form H has to be filled and submitted. Only after this you will get interest on your investment, otherwise not.
Investing in Public Provident Fund ie PPF can be a better and safer option. Investment in PPF gets tax exemption. Also, there is no tax to be paid on the maturity amount after 15 years. However, there are many other benefits of this scheme and few people know about it.
Explain that people investing in Public Provident Fund can increase the investment period by 5-5 years after every five years after 15 years. You can invest in it even after 15 years.
If you want to continue investing in the PPF account after the maturity period of 15 years, then you have to inform the bank or post office for this. Wherever your account is located, a Form H has to be filled and submitted. Only after this you will get interest on your investment, otherwise not. If a PPF account holder decides to continue his PPF account for a period of five years with fresh contributions, he can withdraw up to 60 per cent of the account balance at the beginning of each extended period.
PPF is believed to be a good long-term investment vehicle. Through this, management of retirement fund can be done easily. If a person deposits Rs 1 lakh annually and gets an average interest rate of 7.5 per cent, then after 15 years he will easily accumulate Rs 31 lakh. At the same rate of interest, he would double that amount in less than 10 years.
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