Public Provident Fund CalculatorImage Credit source: Representative Photo
If you are planning to save for your child’s future, then this news is useful for you. Today we will tell you about such an investment option by investing in which you can secure your child’s future. Investing in PPF is a very beneficial option for you. In this, your money is saved for 15 years. On which you get an annual interest of 7.1 percent.
Apart from securing the future of your child, you get many other benefits on it. At the same time, you continue to get its benefits even after maturity of 15 years. That is, in every respect, this is the best investment option for you.
Also read: Do parents pay rent? 99000 tax will be saved like this
Withdraw PPF money only on maturity
The maturity of PPF i.e. Public Provident Fund is only after 15 years. In such a situation, you should try to withdraw your PPF money only after 15 years. However, in PPF you also get the facility to withdraw after 5 years. You can take it out only on certain conditions. If you have any medical or education emergency, then you can withdraw PPF money after 5 years.
One of the benefits of withdrawing PPF money on maturity is that you do not have to pay any tax on the amount. That is, it is completely tax free.
Can continue investing even after 15
You can continue investing in PPF even after 15 years i.e. after maturity. You can extend it for 5 years. If you want to extend your PPF investment for 5 years, then you have to apply for extension 1 year before maturity. You can withdraw your investment money during this time. No pre-mature withdrawal rule is applicable on this.
This is how the future of children will be secured
Investing in PPF will secure your child’s future in such a way that if you have to send your child abroad for studies, you will not face shortage of money. You will add funds for 15 years so that you can give good education to your child.
: Language Inputs