Are you planning to invest in something? Then today’s article is for you. You can invest in PPF as a beginner. PPF or Public Provident Fund is a government investment scheme. PPF is a scheme run by the central government, in which any Indian citizen can invest. PPF account can be opened in any bank in the country. Apart from banks, you can also open a PPF account in the post office. Rs 500 to Rs 1.5 lakh can be deposited annually in a PPF account. There are many special features of this account. If you want, you can invest a lump sum in it annually or can also deposit money in installments.
PPF is getting 7.1 percent annual integuarantee central government is currently paying 7.1 percent annual interest on PPF. A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited annually in this scheme. This scheme matures in 15 years. But, it can be extended for an interval of 5 years each.
In this way, the PPF account can be run for a maximum of 50 years. Keep in mind that to run the PPF account continuously, it is mandatory to deposit at least Rs 500 every year. If you do not deposit at least Rs 500 in any year, then your account will be closed.
Loan facility
You can also avail loan facility on PPF account. With PPF scheme, investors can get 25 percent of the total amount deposited in the account as loan. After 5 years of opening a PPF account, you can withdraw 50 percent of the amount once. If you invest Rs 1 lakh every year in PPF account, then after 25 years you will get a total of Rs 68,72,010 with a guarantee. This includes Rs 25,00,000 of your investment and Rs 43,72,010 of interest. For more information related to PPF scheme, you can visit your nearest bank or post office.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.