Investment in PPF is safe and tax free
In PPF, the benefit of tax exemption is available and many benefits are also available along with it. It is also completely safe. If you are thinking of closing your account, then after 15 years the work can be closed. For this, you have to submit the original passbook and canceled cheque along with the application form. Then the amount gets transferred to the savings account.
You can invest in the account even after 15 years
There are many people who want to continue investing in PPF even after maturity. The special thing is that its facility is present in PPF. When the PPF account reaches 15 years, then it can be extended several times for a period of five-five years.
It is necessary to deposit at least 500 rupees every year
If you want to continue the account further, you will have to inform the bank through a letter about 12 months before maturity. After this you have to deposit at least Rs 500 every year. It is necessary to deposit this minimum amount, otherwise your account will be closed. And then to get it opened again, you will have to pay a penalty of Rs 50 per annum.
