PPF Accounts: Do you also have a PPF account? Or planning to create an account? Then this article is for you. For a safe future right now, everyone wants to invest in something. The Public Provident Fund is quite popular in investment schemes. Many investors invest in this scheme and accumulate large funds. This scheme is a tax-saving scheme. Investors turn to this scheme to get tax benefits.
PPF account
PPF falls under the EEE category. Tax is saved in three ways through this scheme. Yes. In this scheme, you can save tax on investment, interest, and maturity. Investors are aware of these benefits but are also unaware of many things. We will tell you about some facts related to PPF below.
Can you open a joint account?
There is no option to open a joint account in PPF. Even though the nominee is mandatory in this scheme, a separate part is also fixed for him. If the PF account holder dies, then the nominee gets that amount.
Two accounts will not open
The PPF scheme does not provide the facility to open more than one account. If you accidentally open two accounts, then the second account will not be considered valid. If you have opened two accounts, then you will have to merge the accounts to avoid any trouble in the future. You will not get the benefit of interest until you get the account merged.