PPF ACCOUNT: Today, everyone invests somewhere to secure their future and that of their family. If you also want to secure your future and that of your children, you can invest in this government scheme without hesitation. There is no risk in investment in this scheme. Along with this, you can also deposit funds worth lakhs. Are we talking about the PPF scheme? By investing in this scheme, you can deposit funds worth lakhs for children. In this scheme, interest is being received at the rate of 7.1 percent on investment. But some rules have been given for opening an account in it. Which is very important to know about.
For information, let us tell you that a PPF account can also be opened in the name of your minor child. But the rule is that a parent can open an account for only one of their children. On the other hand, if the parent has two children, then the account of one child can be opened by the mother, and the account of the other can be opened by the father. In this way, both the mother and father can open an account for one child each.
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Know how much money will have to be deposited
For information, let us tell you that a minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited in a financial year for the PPF account of a minor. If the mother and father also have their own PPF account, then a maximum of Rs 1.5 lakh can be deposited in a year by combining both their accounts and the minor’s PPF account. The child will become an adult as soon as he turns 18 years old. This PPF account will be transferred from the parents to the child.
When does the PPF account mature?
Let us tell you that the maturity of the PPF account takes place in 15 years. After the completion of this period, you can easily withdraw the entire amount. If you do not need the money, it can be extended for 5-5 years. Tax benefits are also available in the PPF account. It comes under the EEE category of income tax. This means that by investing in it, you will get the full benefit of the tax benefits. Tax benefits are available from the investment to maturity.
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Maturity money will be received after 15 years
For information, let us tell you that by investing in PPF, maturity money is received after 15 years. By investing every month in this scheme, a big fund will be prepared. After 15 years, 3 lakh 18 thousand rupees will be received. If you invest 2 thousand rupees, then this amount will become 6 lakh 37 thousand rupees.