PPF Calculator: Before investing in PPF, you must be aware of the changes that have taken place in the last days. These changes are made by the government from time to time. Let us know 5 such changes, which were made by the government.
PPF Latest Update: If you also invest in PPF, then this news is of your use. This time before making any kind of investment in PPF account, it is important for you to know these rules. The rules of small savings schemes are changed from time to time by the government. In such a situation, it is important for you to know about these changes.
Sometimes big changes happen
These changes made by the government are sometimes minor and sometimes big. Last days, we had informed you about the changes made in Sukanya Samriddhi Yojana (SSY). Similarly, the government has also changed some rules of PPF. Here we will tell you about 5 changes related to PPF.
Loan Against PPF Rules
If you want to take a loan against PPF account, then two years before the date of application, you can take a loan only on 25 percent of the PPF balance in the account. It can be understood in simple language that you applied for the loan on 31st March 2022. Two years before this (March 31, 2020), if there was 1 lakh rupees in the PPF account, then you can get 25 percent of it i.e. 25 thousand loan.
interest rate reduction
If you take a loan on the balance in the PPF account, then the interest rate has been reduced from 2 percent to 1 percent. After paying the principal amount of the loan, you will have to pay the interest in more than two installments. Interest is calculated from the 1st of every month.
PPF account will continue even after 15 years
If you are not willing to invest after 15 years, then you can continue your PPF account without investment after this time limit. There is no obligation on you to deposit money after 15 years. After maturity, if you are opting to extend the PPF account, then you can withdraw money only once in a financial year.
Fill this form to open an account
To open a PPF account, now Form-1 (Form-1) has to be submitted instead of Form-A. For extension of PPF account after 15 years (with deposits) one year before maturity, one has to apply in Form-4 instead of Form H.
Amount can be deposited once in a month
Investment in PPF account is necessary in multiples of Rs 50. This amount should be at least Rs 500 or more annually. But in PPF account, you can deposit up to 1.5 lakh rupees in a whole year. Only on this you get the benefit of tax exemption. Apart from this, you can deposit money in PPF account only once in a month.
