Many schemes are being run by the central government to benefit the people. One of which is Public Provident Fund. People invest in this investment scheme and deposit money for their future.
Through this, good returns can be obtained without any risk. If you also invest in PPF (PPF Scheme Latest Update), then you must know an important information related to it. The 5th date has special significance for the investor in PPF. If you deposit money keeping in mind the fifth of every month, then your profit can also increase. The Central Government has also informed the people about this.
5th date is special for PPF investors
If you invest in PPF on the fifth of every month, then you will also get the benefit of interest for that month. For example, if you deposit the money on April 20, then you will be given interest only for 11 months. On the other hand, if you invest on 5 Arpil, then you will get the benefit of interest for the entire 12 months. Which can be a profit of around Rs 10,650.
Features of PPF
- A maximum of Rs 5 lakh can be deposited in Public Provident Fund accounts in a year.
- Investing in this gives interest at the rate of 1 percent every month.
- The money deposited after the fifth date will get interest in the next month. And deposits made up to five will be counted in the same month’s interest.
- PPF account can be opened by a person only once.
- This information has already been given by the Central Government that if a person has opened more than one PPF account after December 12, 2019, then they will be closed. Along with this, there will be no interest on the deposit.
- PPF accounts also cannot be merged.
