For information, let us tell you that PPF or Public Provident Fund is a popular small savings scheme in India. You can start investing under this scheme with just Rs 500. At the same time, it is a tax saving scheme.
If you are a PPF account holder of India Post, then there is good news for you.Actually, India Post has implemented the service of opening and closing PPF account in ‘Post Office Savings Bank Account’ (POSB) e-banking platform.With this, post office customers availing e-banking facility can open and close their PPF account online.
Giving this information on Twitter from India Post, it has been said that for more information – https://ebanking.indiapost.gov.in link or contact your nearest post office.
What is PPF Account:PPF or Public Provident Fund is a popular small savings scheme in India.You can start investing under this scheme with just Rs 500.At the same time, it is a tax saving scheme.Apart from this, interest is given by the government at the rate of 7.10 percent.
How interest is calculated: PPF interest is calculated on monthly basis but compounded interest is calculated annually. Investors can deposit up to Rs 1.5 lakh in a financial year. An individual can open only one PPF account and joint account is not allowed. Partial PPF withdrawal is allowed from the seventh year of account opening.
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