Question 1

Does PPF have a five-year term?

Accepted Answer

PPF accounts have a 15-year maturity period, however they can be extended in blocks of 5 years. The term must be extended within a year of maturity.

Question 2

Which PPF bank is the best?

Accepted Answer

The PPF programme is offered by State Bank of India (SBI), the biggest bank in the nation, and it has a competitive interest rate. Since SBI has more than 15,000 offices throughout India, utilising the programme is simple.

Question 3

What is the current PPF interest rate?

Accepted Answer

In order to encourage Indian consumers to save money for their long-term future, PPF interest rates are traditionally set higher than the standard Fixed Deposit rates provided by Banks. For PPF accounts, the current interest rate for Q3 (October through December) of FY 2022–23 has been set at 7.1%.

Question 4

PPF: A wise investment?

Accepted Answer

The PPF programme offers a number of advantages, making it one of the most well-liked long-term and tax-saving programmes for depositors. The power of compound interest can let someone accumulate a significant fortune of about Rs 1 crore if they can make regular investments for 15 to 25 years. Every three months, the PPF interest rate is adjusted.

Question 5

Which is better for PPF, the post office or the bank?

Accepted Answer

It is advantageous to have a PPF account with banks or post offices. The PPF scheme's features are the same whether a bank or post office is used to open an account.

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Post Office PPF Interest Rate 2022

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Top 10 Loan Apps in India for Students

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Format of will in India