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 obtainable. 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 state of affairs, a great fund can be generated by way of this.

This is the rationale why regardless of having many funding choices, a big part of individuals choose 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 accomplished? If you have invested then you should know the reply to this-

Know how many times you can get extensions accomplished

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 accomplished in a block of 5 years. With this, your account will get prolonged for five years at one go. You can get PPF extension accomplished any quantity of times.

How will the extension be accomplished 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 yr from the date of maturity and fill a kind for extension. The kind will probably be submitted in the identical publish workplace/financial institution department the place the PPF account has been opened. If you aren’t in a position to submit this kind on time, you won’t be able 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’s not vital 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 mechanically. 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 also 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 ability of FD and saving account..

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

– Advertisement –