PPF Account: Deposit money in the PPF account by this date, otherwise there will be a loss!


pc; abplive

Planning for retirement or old age is something that people often do in advance, investing in different places and setting aside a portion of their salary. One such scheme is the Public Provident Fund (PPF), in which lakhs of people invest. It offers good interest rates and is considered safe. Moreover, it helps individuals to save taxes. That's why people invest in it every year. However, many people make big mistakes while depositing funds in their PPF account, without even realizing it.

The "five-date funda" is important for those investing in PPF. This means that they should invest by the 5th of every month. Failure to do so results in loss of interest. If you deposit money in your PPF account between the 1st and 5th of every month, you will get interest for that entire month. But if you deposit after the fifth, you will not get interest for that particular month; Interest will start being received from the next month.

PPF is a great savings scheme. It offers interest rates of over 7% and allows individuals to save up to ₹1.5 lakh under Section 80C, reducing their taxable income. Every year lakhs of people deposit substantial amounts in their PPF accounts and after 15 years they receive a significant amount.

If you have not started saving yet, you can open a PPF account. This will not only help you save every month but also accumulate wealth for the future.