PPF account closed? Do not take tension, it is easy to start the process again, learn here

New Delhi. PPF is a safe and convenient investment option in times of inflation. If you have invested in PPF and your account has become closed or inoperative due to some reason (PPF Account inoperative). So you don’t need to worry. Because your investment is completely safe and you can easily get your account started again. Let us tell you that a person can open only one PPF account. Investing in PPF is also very important in terms of tax exemption. In this, the benefit of tax deduction is available on investment. Apart from this, the maturity amount and interest income are also tax free. Let us now tell you how you can restart your closed PPF account.

First of all, it is very important for you to know how to invest in PPF account. If you want to invest in PPF, then you can open a PPF account by going to the nearest post office or bank. For this you have to fill a form. In this, you have to invest a minimum of Rs 500 in a year, and if you do not fulfill the minimum investment condition, then your PPF account becomes inoperative.

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Why PPF account becomes inoperative
If the PPF account holder does not put the minimum amount in the account in a financial year or forgets to put it, then this account stops. In PPF, only after the maturity period is over after 15 years, the subscriber gets his amount along with interest. This interest is added to the balance every year. This is applicable even with closed PPF account. The government fixes the interest rates from time to time. PPF account closed before the date of maturity cannot be closed permanently. However, if someone wants to activate it, then this work can be done anytime before the date of maturity. The date of maturity is mentioned in the PPF passbook.

restart like this
To activate the closed PPF account, you will have to give a written application to the bank or post office where it is open. Closed PPF account can be restarted during the maturity period. For this, along with Rs 500, a fee of Rs 50 will have to be paid annually. This fee will be payable on an annual basis. Know here that the balance amount in the closed account cannot be revived by the account holder before maturity.

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