PPF-Sukanya Interest Rate: Now, if you have more than one account on PPF and Sukanya Samriddhi account, you will get normal interest rate. On maturity, you will get maximum interest benefit on only one account. This new system which will be implemented from 1st October may disappoint investors. If you have opened more than one account for big savings schemes, then you may incur loss instead of profit.
PPF-Sukanya Interest Rate: If you have more than one account of Public Provident Fund (PPF), Sukanya Samriddhi Account (SSA), Mahila Samman Yojana, you will be able to avail the benefit of normal interest rate only. At the time of maturity, you will be able to avail the maximum interest on only one account.
Investors will be disappointed with the new system being implemented by the Union Finance Ministry from October 1. If you have opened more than one account in big savings schemes, you may incur loss instead of profit. In schemes with high interest rates, except for one, the remaining accounts will get refund at simple interest rate. The Postal Department has issued a guideline on the instructions of the Finance Ministry.
This is how you will be identified
Anil Kumar, Chief Postal Officer of Bihar Postal Circle, told that to open an account under any scheme, a Customer Identification File (KIF) is opened for the customers. It contains the customer’s information. In case of a newborn, when she grows up, her Aadhaar number will be added to her account or at the time of withdrawal of money during maturity period, the presence of more than one account will be identified at the time of entering the Aadhaar. After this, except for the first basic account, simple interest will be paid on the remaining accounts.
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Only blood relations can open an account
As per the government’s instructions, only the guardians who are blood relatives can open the account. Till now it was seen that the maternal grandparents, maternal uncles, maternal aunts, and grandparents were getting the account opened. Now the government plans that only the actual guardian parents can open it.
At present, it has been seen that the grandparents, maternal uncles, maternal grandparents and parents of the child have also opened accounts of schemes with high interest rates under their respective guardianship. Due to this, they will now get into trouble.
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