Smriti Irani has invested about 20 lakh rupees in this post office scheme. Which can also be bought from the bank. The Union Minister has bought it from SBI. At the same time, her husband has invested in the National Savings Certificate.
By the way, the small savings scheme of the post office is proving to be a great deal for the common people. The returns in these schemes have come down in the last few years, even after that, the interest in these schemes has not decreased among the investors. You will be surprised to know one thing that the Union Ministers of the country have also invested in these small savings schemes. Amethi MP and Union Minister Smriti Irani has invested in PPF ie Public Provident Fund of the Post Office .
Smriti Irani has invested about 20 lakh rupees in this post office scheme. Which can also be bought from the bank. The Union Minister has bought it from SBI. At the same time, her husband has invested in the National Savings Certificate. The information we have given earlier. Smriti Irani had given this complete information to the Election Commission during the 2019 Lok Sabha elections. If you also want to invest your money in a safe and government scheme, then you can invest in PPF. Also, you can get many benefits in it.
Who can open an account in PPF
, anyone can open his account in this scheme. Which can be opened anywhere in the post office or bank. Even you can invest in your child’s name in PPF account. The minor child must be below 18 years of age. After that you can make it major by giving an application. After which the child can handle his own account.
Rs 500 begins
in PPF, you can start investing with less than 500 rupees. The maximum you can deposit is Rs 1.5. This investment is for one year. On this you can also avail tax benefits. At the same time, you do not have to pay tax on the interest earned. Let us tell you that the interest of such a scheme keeps on changing every third month. Let us tell you that at present, the interest on PPF is 7.1 percent per annum.
Loan facility is also available,
you can take advantage of the facility of taking loan against PPF account. Loan against PPF can be taken from the end of the financial year in which you have opened the PPF account till the end of the fifth financial year. Loan can be taken up to 25% of the account holder investment amount.
What happens to the
PPF account on the death of the account holder In case of unfortunate demise of the PPF account holder, the nominee has to transfer the account in his/her name. It is to be noted that a nominee cannot make any contribution to the PPF account. However, if the amount is not withdrawn, the account will continue to earn interest even after death.
Does PPF account earn interest after maturity?
PPF accounts have a minimum lock-in of 15 years from the date of account opening. After the PPF account matures after 15 years, account holders have 2 options. First, they can withdraw the entire amount deposited in their PPF account. Second, they can extend their PPF account for another 5 years. This will enable them to continue contributing and earn interest on their total PPF balance. But the application for extension must be made within 1 year of the maturity of the PPF account.
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