Public Provident Fund Maturity Rules: There are many investment options in India nowadays, but even today a large number of people like to invest money in government schemes. If you are looking for a government scheme for long-term investment, Public Provident Fund is a great option for you. You can invest in this scheme for 15 years at a time. PPF Scheme gives you the option of safe investment along with tax benefits. It has been made by the government on the lines of the Provident Fund scheme, in which everyone from a job worker to a housewife, children can invest. If you do business and want to collect retirement funds for your future, then PPF scheme is a great investment option for you.
How to withdraw money in the account after maturity?
The maturity period of Public Provident Fund Scheme is 15 years. After investing for 15 years, you will have to give an application to the bank and inform that your account has been matured. Along with this, you will have to submit an application form, original passbook and canceled cheque. After this, after verifying all the details of the bank, the amount deposited in your PPF account will be transferred to your savings account. Keep in mind that while filling all the details, do not fill any wrong information.
The duration of the PPF scheme may increase even after maturity.
Let us tell you that if you want to continue your investment after the completion of the maturity period of 15 years of the PPF scheme, then you can do so. According to the PPF rules, after the completion of 15 years, you can increase your invested amount several times for 5-5 years, but for doing so you have to follow certain rules. To do this, you will have to give information by writing an application to the bank once before maturity. After this the bank has given you the approval to carry forward the PPF account for 5 years.
Investing through PPF scheme gives this much return-
Under the PPF scheme, you can open an account (PPF ACCOUNT) in any bank or post office. The maximum investment you can make in this scheme ranges from Rs 500 to Rs 1.5 lakh every year. Under this scheme, you are getting an interest rate of 7.1 percent on compounding basis every year. In this scheme, children above 10 years of age can also open the account under the supervision of their parents.
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