PPF Scheme Latest Update: If your money is also invested in PPF Scheme, then this is important news for you. Various announcements are made from time to time by the Central Government regarding government schemes.
Now big news is coming out regarding the Public Provident Fund scheme. In today’s time, PPF is considered one of the best investment options. In this, you get good returns along with hefty interest, but now if you want to withdraw money from your PPF account before maturity, then know what has changed in the rules-
You get the benefit of compounding interest
In the Public Provident Fund scheme, you get 7.1 percent return on the basis of compounding. Many times it happens that you invest money, but have to withdraw this money in emergency, so today we will tell you how you can withdraw money from the account before maturity.
Can I withdraw money from the account before maturity?
Many times it has been seen that if you withdraw money before the time, then you are asked the reason for withdrawing the money and still you are not given the full amount. Public Provident Fund also has its own rules, according to its rules, you can withdraw money after completion of 6 years and can also get it closed after completion of 5 years. If you want to withdraw some money before 6 years, then you must have a valid reason for withdrawing, only then you can withdraw your money.
When can I withdraw money?
You must have a valid reason for withdrawing money. Like you want to get treatment for any disease or you can withdraw money for the treatment of your family. Apart from this, you can also withdraw money for children’s education and children’s marriage.
Rules of PPF Withdrawal
1. For withdrawing money in PPF, you have to go to the official website of the bank.
2. Then you have to download Form C from the official website of the bank.
3. After filling the form, get it deposited in the bank.
4. And also show your PPF account to the bank.
5. After this the bank will give 50 percent of the money deposited in your account.
You can start with 500 rupees, let us tell you that in this scheme a person can start with 500 rupees. At the same time, in the financial year, you can invest a maximum of Rs 1.5 lakh in it. Not only this, in PPF you also get the benefit of loan and partial withdrawal facility after a certain period.
