Why You Must Deposit Money In PPF Accounts Before Or On 5th Of Every Month
Why You Must Deposit Money In PPF Accounts Before Or On 5th Of Every Month Investment of up to Rs 1,50,000 in PPF account deposits per year ensures tax deduction under Section 80C. The interest rate offered on PPF accounts is currently 7.6% April 5 is important for Public Provident Fund (PPF) investors. Not just the fifth of April but the fifth of every month is significant for PPF subscribers. PPF accounts are a decent investment venue for customers not only because they help you save your money, but also help you cut down on income tax outgo. But PPF rules are hugely beneficial for people who deposit their installments before or on the fifth of every month. This is because the interest rate offered on PPF accounts - currently 7.6 percent - is calculated on the minimum balance in the account between the fifth day of the month and the last day of the month. If you deposit your money after the fifth day of the month, you stand to lose out on substantial i...