PPF Account: Top 5 things that every Public Provident Fund investor must know
PPF Account: Public Provident Fund or PPF is widely considered a long-term investment tool meant for retirement funds. An investor chooses PPF to save income tax as well. According to tax and investment experts PPF account has a maturity period of 15 years and the Department of Economic Affairs has kept PPF interest rate at 7.1 per cent in April to June 2020. Recently, in January 2020, some PPF rules have been changed. Therefore, a PPF account holder needs to know some information, which is important from an investor’s perspective.
Speaking on the PPF rules and recent changes made in January 2020, Jitendra Solanki, a SEBI registered tax and investment expert said, “Most important change made in regard to PPF is lowering the interest rate on loan against PPF from 2 per cent to 1 per cent. Earlier, premature closure of PPF was not allowed, now one can close one’s PPF account after five years of investment and a joint PPF account can’t be opened.”
