CreditMantri Finserve Private Limited
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Minimum Deposit Amount
Maximum Deposit Amount
Rate of Interest
7.1% per annum
Tax deduction u/s 80C
About DEPOSIT LIMIT OF PPF
A person is eligible to invest in the PPF account for tenure of 15 years. After the completion of the said period, the investor up on his/her discretion can extend the investment in blocks of 5 years.
A person can initiate a PPF account with an amount as low as Rs. 100.
The amount that a person can invest in the PPF account is a minimum of Rs. 500 to a maximum of Rs. 1,50,000.
The investor has to contribute to the PPF account each year to keep it active.
The maximum limit for contributions during a particular month is two. However, the total number of contributions that a person can make in a particular year cannot be more than 12 contributions.
The investor, thus, has the option to make a lump sum contribution to the PPF account or a maximum of 12 contributions during a particular year.
In case a person fails to invest in the PPF account for a continuous period of 15 years, such PPF account will become inoperative or dormant.
A person can still earn interest on dormant accounts but the benefits available on such accounts are limited (for example, loans against such accounts are not permitted).
A person can revive such dormant account by in the following manner,
The details of eligibility for the PPF are enlisted below.
Parents can open a PPF account on behalf of their minor son or daughter. However, the scheme places a restriction in this regard that both the parents are not allowed to open a PPF account for the same minor child.
In the event of demise of both the parents, the Grandparents can open a PPF account on behalf of their grandchild as their guardians.
The documents required by an investor to avail the PPF investment are the basic KYC documents. The list of the documents required is given below.
The investment in PPF is eligible for many tax benefits that make it a very attractive and lucrative investment and is thereby favored by the majority of the investors. Following are the tax benefits available on an investment in PPF.
The Public Provident Fund is popularly known as PPF. It is a Government savings scheme that is designed to give the maximum benefits to the residents of the country and provide a safeguard or a safety net for the investors in their need of financial assistance. Investment in PPF has been a preferred option by the masses of the country for many years now. PPF has a host of features and benefits like tax benefits, better rate of interest, easy accessibility and availability and hence is a very effective tool for a better retirement plan.
An eligible person can open a PPF account with any of the post offices across the country or any of the authorized banks (nationalized banks and its branches or a few private banks and their selected branches). The scheme provides the facility to open a PPF account by physically visiting the post offices or the partner banks or through an online process available for the same. Such online facility, however, is not available with all the authorized banks as well as varies in the extent of online application available, i.e. partial online process to open a PPF account or complete online process to open a PPF account.
The current rate of interest applicable on the PPF accounts is 7.1% per annum for the period starting from 1st April 2021.
1. What is the maximum number of deposits that a person can make in the PPF account?
A person is allowed to make a maximum of 12 deposits per financial year in the PPF account. Also, such deposits cannot be more than 2 in any particular month.
2. What is the initial deposit amount that the investor is required to invest to open a PPF account?
The minimum initial deposit amount that the investor is required to make in order to open a PPF account is Rs. 100.
3. Can an Investor skip a year of investment into the PPF account?
A person has to make an investment into the PPF account for a continuous period of 15 years in order to keep it active.
4. What is the minimum deposit amount that a person has to make each year in order to keep the PPF account active?
The minimum deposit amount required to be made each year by the person in order to keep the account active is Rs. 500.
5. What is the current interest rate that can be earned on PPF?
The current rate of interest offered on PPF accounts is 7.1% per annum for the quarter starting from 1st April 2021.
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