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PPF investment before April 5: Investing in PPF account before April 5 can earn the PPF account holder more interest. Making lumpsum investment for the entire year after this date will make a PPF investor to lose a month's interest. Read on to know how much you lose if an individual misses this date.
Tax-saving investments: PPF offers tax exemptions at the time of investment, accrual, and withdrawal. It has a current interest rate of 7.1% per annum and a maximum deposit limit of Rs 1.5 lakh per financial year. PPF accounts can be extended indefinitely in blocks of 5 years. Additionally, it is advisable to diversify savings between PPF and equity investments for a balanced portfolio.
As part of the Government’s efforts to enhance the retirement savings for CPF members, CPF members will earn extra interest on their CPF savings.
The Employees' Provident Fund Organisation (EPFO) has started crediting the interest to provident fund (PF) accounts, the government body said in a statement.
The EPFO has made it very convenient. You can now check your balance through the EPFO portal, UMANG mobile app or via SMS