New Delhi: Public Provident Fund Account (PPF) is a popular small saving scheme which has a 15-year tenure. Any resident of the country can open PPF account. A PPF account can be opened at government and private banks and Post Office branches.
PPF Interest Rate 2021
PPF Interest is generally notified by Ministry of Finance on quarterly basis. The interest on PPF account is calculated for the calendar month on the lowest balance in the account between the close of the fifth day and the end of the month. As on April 26, 221, PPF interest is 7.1 per cent per annum compounded yearly.
PPF Withdrawal Rules
PPF account holders can take one withdrawal during a financial after five years excluding year of account opening.
Amount of withdrawal can be taken up to 50 per cent of balance at the credit at the end of 4th preceding year or at the end of preceding year, whichever is lower.
PPF account deposit
Minimum deposit can be made into the PPF account is Rs 500 and maximum is Rs 1.50 lakh in a financial year. Deposits in PPF account can be made in lump-sum or in installments.
PPF Account Maturity
PPF account will be matured after 15 Financial Years excluding Financial Year of account opening.
PPF account holder can extend his or her account for further block of 5 years and so on (within one years of maturity) by submitting prescribed extension form at concerned Post Office.
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