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PPF also allows nominations of one or more persons except in the account opened with respect to the minors. Remember, PPF is a long-term investment option and there is no withdrawal is allowed before the expiry of 5 years. This is actually the single biggest reason people invest in Public Provident account accounts.
Interest on PPF / withdrawal from the finance is exempted from Income tax and balance kept in the PPF account is also totally exempt from wealth tax. People always question about how much they shall get after 15 years investing a certain amount in PPF. Well, it’s easy to calculate maturity amount as you know the interest rate, but you won’t need to even bother about that.
For example, if you invest 1-lakh rupees each year for 15 years in PPF, given the interest of 8.7% per annum, you shall get Rs. 3,117,275.68. Here is the complete declaration of your PPF investment determined by ratekhoj PPF calculator. You can view a comprehensive breakdown of how your cash shall grow in PPF.
The interest uses here’s 8.7% per annum, but it is compounded each year, this means your theory amount will … Read more