Home News Here is a formula that may help PPF savers maximize their earnings

Here is a formula that may help PPF savers maximize their earnings

July 23, 2023

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The central government operates a plethora of programmes designed to better the lives of its citizens. Public Provident Fund is one such programme. People put their savings into this investing plan for the long haul.

This is a risk-free way to earn a respectable return. If you’re like me and you put money into the PPF (PPF Scheme Latest Update), you should read this. The 5th is a pivotal day for every PPF investor. You may maximize your earnings by depositing funds on the 5th of every month. The public have also been notified by the federal government.

For PPF investors, May 5th is a pivotal day.

Interest for the month will be added to your PPF investment if you make it on the 5th of the month. If you put the money in on April 20th, for instance, you’ll only get interest for 11 months. If, however, you make an investment on April 5th, you will get interest for a whole year. That’s an approximate gain of Rs 10,650.

PPF Characteristics

The annual limit for contributions to a Public Provident Fund account is Rs 5 lakh.
The monthly interest rate on this investment is 1%.
Funds placed after the fifth will begin earning interest the following month. Up to five contributions may be made in a single month, and all of them will earn interest for that month.
Each individual is limited to a single PPF account.
The Central Government has previously said that anybody who opens a second or subsequent PPF account after December 12, 2019 would have all of their accounts frozen. The deposit will also accrue no interest.
There is also no way to combine PPF accounts.