PPF Update: How many times can you get PPF Extension? Know the rules related to this scheme..

The Public Provident Fund is a very popular investment scheme. This scheme comes under the EEE category. After investing in this scheme for a long time, a good fund is collected. The special thing about this scheme is that the investment amount, interest, and the amount received on maturity are completely tax-free.

In the PPF scheme, a minimum investment of Rs 500 and a maximum of Rs 1.5 lakh has to be made annually. Currently, this scheme gives an interest of 7.1 percent. Although this scheme matures in 15 years, but even after maturity, this scheme can be extended for 5-5 years.

Now the question is how many times can the PPF scheme be extended? What does the PPF rule say about this? Let us know the answer to this question here.

Rules for PPF extension
The investor has two options for PPF extension. The first option is account extension with contribution and the second option is account extension with investment. If the investor does not withdraw the investment amount even after maturity, then the account gets automatically extended.

In this, even after maturity, interest continues to be received according to the calculation of PPF, and tax is also not levied. Apart from this, the facility of FD and savings accounts is also available in this scheme. Investors can withdraw money from the account whenever they want.

How many times can the account be extended?
Investors can get account extensions done in blocks of 5-5 years. There is no limit for account extensions. This means that the investor can get the account extended as many times as he wants. The investor will have to apply first for an account extension.

Keep these rules in mind
Only Indian citizens can get the PPF extension done.

For PPF extension, application has to be given before completion of 1 year from maturity.

After the PPF extension, the investor will have to invest at least Rs 500 every year.

After selecting the option of PPF extension, the investor can withdraw money only once.

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