Post Office PPF Scheme: The central government operates several investment schemes. Investors are receiving secure returns by investing in these schemes. If you are also considering investing, this Post Office scheme can help you. We are talking about the PPF scheme, the special feature of which is that you can deposit a minimum of Rs. 500 annually. You can deposit the money in a lump sum or in 12 easy installments. A maximum of Rs. 1.5 lakh can be deposited in a PPF account in a year. If you are depositing money in installments, you can even make installments of just Rs. 50.
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When will the PPF account mature?
For your information, a PPF account matures in 15 years. You can extend it for 5 years at a time by filling out a form. You can open a PPF account at your nearest post office. If you deposit Rs. 2500 monthly in a PPF account, you will invest Rs. 30,000 annually. By depositing Rs. 30,000 annually in the PPF scheme, you will receive a total of Rs. 8,13,642. This includes your investment of Rs. 4,50,000 and interest of Rs. 3,63,642.
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Loan facility available on the PPF account
You need to keep one thing in mind regarding the PPF account. If you do not deposit at least Rs. 500 in a year, your account will be closed. However, it can be reactivated by paying a penalty. You also get a loan facility with the PPF account.
PPF is a government scheme; therefore, every single penny you deposit in this account is completely safe. After opening a PPF account, you cannot withdraw money for 5 years. After 5 years, you can withdraw money from your PPF account under certain special circumstances, such as serious illness or for your children’s education.