Advantages
This is a best long-term investment plan
Tax free facility
You can get Loan on investment amount
USEFUL FOR
Children’s Studies, marriage,
Retirement planners
Where how can you start PPF:
All State Bank of India and their any branches all over India
You can create and open an account in any nearest Head Post office or sub post office
Who is eligible to start PPF:
All Indians except NRIs
Even guardians for children also can open an account of PPF.
How much and how to save money from income?
Here is a minimum deposit is 500 rs.
Maximum is 1 Lakh Rupees (IR) is within 12 monthly installments in a year or at a time.
There is no any condition on minimum savings money.
It depends upon you from 500 Rs to 1 Lakh Rupies.
How they calculate and pay interest for PPF:
While calculating interest for PPF, for the minimum amount in the account on 5 th to end of the month is taken for consideration to provide interest.
How to gain more interest on PPF deposit money:
If you want get more interest on your PPF money saving amount, deposit yours desired amount within the 1 to 5th dates of every month. Current PPF interest rate is 8 to 8.5%.
Could I take my deposited PPF money at mid of saving plan?
Yes, surely you can take yours PPF deposit money at any time in yours emergency need. Even you can collect after time period also. If depositor dies in any case, the PPF account can cancelled completely.
Is PPF is a Tax deductible?
Yes, PPF is under tax deductible. If you are thinking about long-term tax saving plans, the PPF is considerable for tax deduction. Tax deduction just not only for deposited money also for gained interest amount.
How get loan?
You can get loan with some simple conditions. Even 2 nd time also you can take loan.
What is the PPF saving Plan time period?
The minimal time period for PPF account is 15 years. Even you can deposit money as you desired after your time period and can continue your PPF account and you can get interest on your deposited saving amount.
Remember about PPF accounts:
There is fear of loss
You can save small to desired amounts monthly or at single pay
Only one account allowed to opening. Multiple accounts on same person is not allowed.
Find here to how to become a milliner With Money Saving Plans in India
You can become a milliner easily with PPF saving plan. See below given chart. This chart guides us and gives a clear idea on How can we become a millioner with PPF saving plan.
(Amount in Rs/-) Gain profits (comparison chart Year based)
Deposit per year 15 years 20 years 25 years 30 years
10,000 284540 489198 798354 1265365
25,000 711351 1222996 1995886 3163413
50,000 1422702 2445992 3991772 6326827
79,000 2248723 3866135 6309396 10000182 (1Crore)
100000 2845405 4891984 7983545 12653654 (1Crore)
