PPF Extension Rules: How many times can you get extension of PPF? Be sure to know these rules

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 out there. 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, a superb fund can be generated by means of this.

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This is the explanation 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 how many times PPF extension can be performed? If you have invested then you should know the reply to this-

Know how many times you can get extensions performed

In case of PPF extension, the investor has two sorts 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 performed in a block of 5 years. With this, your account will get prolonged for five years at one go. You can get PPF extension performed any quantity of times.

How will the extension be performed with contribution?

After 15 years, if you need to proceed the PPF account with contribution, then you may have to submit an utility to the financial institution or submit workplace the place the account is maintained. You may have to 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 submit workplace/financial institution department the place the PPF account has been opened. If you are usually not ready to submit this way on time, you will be unable to contribute to your account.

How to get extension with out contribution

If you don’t want to make any funding in PPF account after 15 years, however need to take benefit of its curiosity, then you additionally get this feature. For this it’s not obligatory for you to inform the financial institution or submit workplace. If you don’t withdraw the quantity after maturity of 15 years, then this feature comes into impact robotically.

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 ability of FD and saving account.

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