Ppf account

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Subrata (Querist)

12 October 2017 I opened a PPF account in sbi at monthly 5000 rupees . Would i able to increase my amount and is it possible to deposit money at one time in a year instead of monthly instalment. I was opened that account in monthly basis and is there any difference of interest on monthly and yearly instalment? Please inform me.

Ashiwini Ballodia

Ashiwini Ballodia (Expert)

12 October 2017 As per me in PPF account holder has to deposit the money alteast once in a year, there is no monthly requirement for the deposit of the same.
For details kindly contact your branch

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)

12 October 2017 The mandatory condition for survive of a PPF account is to deposit a minimum Rs. 500 in one financial year. No matter if you deposit it in one attempt or more. There is no upper limit for deposit amount. However for 80c maximum limit is 1.5 lacks

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

12 October 2017 As in any compound interest linked investment, you will get to earn more interest if you lumpsum in beginning of the year; Little less interest yield if you invest monthly and even lesser interest if you invest end of the year.

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

12 October 2017 Therefore If you intend to invest in lumpsum , do invest in the beginning of the yeaR

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Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)

12 October 2017 @ k srinivas ✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️

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