PPF Extension Rules: How many times can you get extension of PPF?

If you have additionally invested in PPF and you need to take benefit of this scheme even after maturity, then you can get it prolonged. Know the foundations of PPF extension right here.

– Advertisement –

PPF Extension Rules: Public Provident Fund (PPF) is taken into account an excellent funding possibility. This is a authorities scheme on which assured curiosity is accessible. Any Indian can make investments on this scheme. PPF is a long run scheme, it matures in 15 years and has the profit of compounding. In such a scenario, fund can be generated by this.

This is the explanation why regardless of having many funding choices, a big part of individuals want to spend money on it. At current 7.1 p.c curiosity is being given on PPF. If you are additionally investing on this scheme and need to avail its advantages for greater than 15 years, then you can get this scheme prolonged. But do you know the way many times PPF extension can be completed? If you have invested then you should know the reply to this-

Know how many times you can get extensions completed

In case of PPF extension, the investor has two varieties of choices – first, account extension with contribution and second, account extension with out funding. If you need to get it prolonged whereas persevering with the contribution, then you can get it completed in a block of 5 years. With this, your account will get prolonged for five years at one go. You can get PPF extension completed any quantity of times.

How will the extension be completed with contribution?

After 15 years, if you need to proceed the PPF account with contribution, then you should submit an utility to the financial institution or publish workplace the place the account is maintained. You should give this utility earlier than completion of 1 12 months from the date of maturity and fill a type for extension. The type can be submitted in the identical publish workplace/financial institution department the place the PPF account has been opened. If you will not be in a position to submit this manner on time, you will be unable to contribute to your account.

How to get extension with out contribution

If you don’t need to make any funding in PPF account after 15 years, however need to take benefit of its curiosity, then you additionally get this selection. For this it isn’t needed for you to tell the financial institution or publish workplace. If you don’t withdraw the quantity after maturity of 15 years, then this selection comes into impact routinely. Its benefit is that no matter quantity is deposited in your PPF account, you get curiosity on it as per the calculation of PPF and tax exemption can be relevant. Apart from this, you can withdraw any quantity of cash from this account anytime. If you need, you can withdraw your complete cash additionally. In this you get the power of FD and saving account..

ICICI Bank once more revise rate of interest on FD in April, test new price right here

– Advertisement –