Friday, June 21, 2024
HomeLatest NewsBusinessAttention PPF, Sukanya Samriddhi Scheme Subscribers! Know Why March 31 Deadline Is...

Attention PPF, Sukanya Samriddhi Scheme Subscribers! Know Why March 31 Deadline Is Significant For You


New Delhi: The present monetary yr 2023-2024 goes to finish in simply 4 days. Since a number of deadlines are pegged to the month of March, the tip of the month i.e March 31 could be very essential for investments. 

In case you are a subscriber of  Public Provident Fund (PPF) and Sukanya Samriddhi Yojana, March 31 deadline is critical for you. The Minimal Quantity for opening of account and most steadiness that may be retained for each Public Provident Fund and Sukanya Samriddhi Yojana is the tip of a monetary yr. Therefore, you probably have not deposited the minimal steadiness earlier than the tip of the monetary yr (March 31), it’s excessive time you probably did so. Whereas those that have already made their deposits, they need to not fear.

Discontinued or deactivated PPF, Sukanya Samriddhi Account

If in any monetary yr, minimal deposit of Rs 500 in case of Public Provident Fund Account will not be made, the mentioned PPF account shall turn into discontinued. Discontinued account might be revived by the depositor earlier than maturity of the account by deposit minimal subscription (i.e. Rs. 500) + Rs. 50 s default payment for every defaulted yr. 

For Sukanya Samriddhi Accounts holders, if minimal deposit Rs 250 will not be deposited in a account in a FY , the account shall be handled at defaulted account. Defaulted account might be revived earlier than completion of 15 years from the date of opening of account by paying minimal Rs 250 + Rs 50 default for every defaulted yr.

Rate of interest for Sukanya Samriddhi Accounts, PPF

The central authorities had earlier this month, stored the rates of interest for small financial savings schemes viz PPF, Senior Citizen Financial savings Scheme, Sukanya Samriddhi Scheme and different unchanged for the April June quarter.

For Sukanya Samriddhi Accounts, the Fee of curiosity 8.2 % Per Annum, calculated on yearly foundation ,Yearly compounded. For Sukanya Samriddhi Accounts, minimal Rs 250 and Most Rs 1.5 lakh might be deposited in a monetary yr. Subsequent deposit in a number of of Rs 50 deposits might be made in lump-sum. There isn’t any restrict on variety of deposits both in a month or in a Monetary yr.

For Public Provident Fund, the rates of interest are 7.1 % every year (compounded yearly). The minimal steadiness for PPF IS Rs 500 whereas most Rs 1.5 lakh might be deposited in a monetary yr. Deposits might be made in lump-sum or in installments.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments