PPF Scheme interest rate : Those who invest money in PPF will get additional benefit of Rs 2.69 lakh, note the date of 5th April

PPF Scheme interest rate: The date of April 5 is essential for these investing in Public Provident Fund. If you invest until April 5, you could undergo a loss of lakhs.

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PPF Scheme News: If you will have additionally invested in PPF Account, then that is helpful information for you. The date of April 5 is essential for these investing in Public Provident Fund. If you invest until April 5, you could undergo a loss of lakhs.

In such a state of affairs, if you’re depositing the money in lump sum, then take particular care that you just deposit Rs 1.5 lakh earlier than the 5th. Let us clarify to you what the full calculation is-

Interest in PPF account is calculated on the 5th of each month. If PPF traders are making lump sum fee for the monetary 12 months, then to earn extra, they need to deposit this money earlier than April 5. With this, traders will get the benefit of interest for the complete month.

You will get interest of Rs 18.18 lakh on funding earlier than 5th.

At current, PPF is getting 7.1% interest yearly for the quarter April-June 2024. This interest rate stays for the tenure of 15 years of PPF account. An individual will get interest of Rs 18.18 lakh by depositing Rs 1.5 lakh yearly on or earlier than April 5 for the subsequent 15 years.

Loss of Rs 2.69 lakh on funding after 5th

At the identical time, if the PPF account holder deposits after April 5, he will get interest of Rs 15.84 lakh. Therefore, if the lump sum quantity is invested after April 5, the PPF account holder will undergo a loss of Rs 2.69 lakh over a interval of 15 years.

There will be no interest on this money in April

Suppose a PPF account holder deposits money in the PPF account on fifteenth April. As per PPF account guidelines, its month-to-month interest will be calculated on the lowest steadiness between April 5 and April 30. You will not get the benefit of interest in the month of April on the quantity deposited on fifteenth April.

Currently getting 7.1 % interest

Let us inform you that at current interest is being given in PPF at the rate of 7.1 %. Whatever minimal steadiness stays between the 5th of the month and the final date of the month, interest is added on it in the identical month. Whatever money you deposit after the 5th, you will get interest on it from the subsequent month.

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