PPF New Order: Individuals having PPF account will have to deposit their contribution for the financial year 2023-24 before April 5 to get the most out of their investment. If deposited in PPF account after April 5 for this financial year, the account holder will earn less interest than the PPF balance.
PPF Saving Scheme: Many saving schemes are being run by the government. Public Provident Fund is also included in one of these savings schemes. Through Public Provident Fund, investors can invest for a long period and can also earn interest on their investment. However, if you invest in Public Provident Fund, then it is very important to take care of one thing, otherwise you may have to bear the loss.
PPF Account
Individuals having a Public Provident Fund (PPF) account will have to deposit their contribution for the financial year 2023-24 before April 5 to get the most out of their investment. If deposited in PPF account after April 5 for this financial year, the account holder will earn less interest than the PPF balance. This is because as per the rules of the PPF scheme interest is calculated on the basis of the lowest balance in the PPF account on the fifth day of the month and at the end of the month.
PPF Scheme
So if a person is making a lump sum investment then make sure that the money is deposited in the PPF account by 5th April. If the amount is deposited in the PPF account by April 5, then the interest will be more. Apart from this, amount is also deposited in PF on the basis of month.
PPF Interest
The rules of the PPF scheme further state that the interest is calculated on a monthly basis but is credited at the end of the financial year. So, if a person makes monthly payment in PPF account then make sure that the money is deposited in the account before the 5th of every month to earn higher interest.
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