PPF WEBSITES:

https://www.bankbazaar.com/saving-schemes/ppf.html
https://www.bankbazaar.com/saving-schemes/sbi-ppf-account.html
https://en.wikipedia.org/wiki/Public_Provident_Fund_%28India%29
http://www.icicibank.com/Personal-Banking/investments/ppf/ppf-calculator.page
http://www.planmoneytax.com/how-to-take-maximum-benefit-from-ppf-account-8-tips/
http://profit.ndtv.com/news/cheat-sheet/article-seven-must-know-facts-about-ppfaccounts-322231
---------------------------------------------------------------------------------------------------------------------------8 TIPS FOR PPF ACCOUNT:
1- Open PPF Account As Early As Possible
This only step will make PPF very useful for you. But going to the benefit of th
is I would like to tell about my experience with PPF. I have been in the service
from last 10 year. Unfortunately, in early years no one told me about PPF accou
nt. Later I discovered the PPF but procrastinated on it. I was just saying to my
self that I had to open PPF account. In this procrastination 2 years passed. The
n I started to search for the bank. People told me that I should open account in
SBI. But the SBI branch near to my residence was not offering PPF account. Agai
n, I forgot it for one year. Next year when tax saving season was there I went t
o the main branch of SBI. There the clerk designated for the PPF account told me
that he can t open a PPF account as I don t have saving account in SBI. I came back
. Again, one year passed. Finally, I opened a PPF account in Bank of Baroda las
t year. Till then I understood that already I have missed many years. If I could
open PPF account 10 years ago I may get these benefits.
Benefit of Opening PPF Account Early:
a)My current investment in PPF would have only 5 year lock in period as my PPF a
ccount must have completed 10 years.
b)I could also withdraw some money for emergency as 7 years limit would have bee
n crossed.
2- Schedule Monthly Investment in PPF
It is not mandatory to invest in PPF account every month. Single 500 rupee inves
tment in a year is enough to stay your account active. But to get the most benef
it of PPF you must invest regularly. Regular investment is the best saving tip.
Give a standing instruction to your bank for monthly transfer in PPF account. It
can be done online also. This one time instruction will give you a big reward.
3- Invest Lump Sum Also
Besides regular investment you should also try to invest in lump sum when you ge
t extra money. You get a bonus, Put some amount in PPF account also. This lump
sum money will make your maturity amount fatter without pinching you . Also more
investment means more tax saving. Note, you can t put more money in PPF account t
han the 80C limit.
4- Open Account In Start of The Financial Year
Is lock-in period bothering you? Do you want to make it a little shorter? I have
a tip for you. Open PPF account in the first 5 days of the financial year. Open
ing an account before 5 April would be considered the investment of the same yea
r. But if you miss the 5 April date, then your account opening year would be con
sidered from next financial year. You can understand this by below example.
Suppose You open your account on 2 April 2014 then your account will mature on 3
1 March 2030. But if you invest on 7 April 2014 then it will mature on 31 March
2031. But have in your mind that it will never benefit to delay the opening of t
he account.
5- Deposit at the Start of Every Month
Earlier, banks used to give interest on minimum balance between 10 of the month
to last day of the month. Now they give interest on daily balance. But PPF is pr
acticing such tradition yet. PPF will only count the money for interest if it is
deposited before the 5th of the month. So If you want the interest for whole mo
nth deposit your sum before the 5th of the month.
6- Choose The Bank Which Gives Online Fund Transfer Facility in PPF Account
You should not miss your regular investment in PPF. Also, you should not have an

y excuse to break the regularity. The regular online transfer mandate will be ve
ry useful in this regard. The online fund transfer facility should be also used
for the Public Provident Fund. But Unfortunately, today not every bank gives thi
s facility for PPF. Hence, if you are going to open a PPF account, then check if
the bank has online viewing and transfer facility for the PPF also. Of course y
ou can give standing instruction physically also. But the online facility will g
ive you more ease and less chance of missing investment.
To my knowledge these banks give online fund transfer facility for PPF account.
SBI
ICICI Bank
Bank of India
IDBI
IOB
Allahabad Bank
7- Take A Loan From PPF instead of Personal Loan
It may happen that you need money for short periods? Also, you may not have any
mortgage offer. Then you would have only option to take the personal loan. But i
f you have a substantial amount in provident fund account, then you can take a l
oan against it. The interest rate would also be less. Normally, personal loan in
terest rate varies from 13-36%. But Interest of loan against PPF would be only 2
% more than the PPF Interest rate. It may come around 11%, according to the curr
ent rate of PPF.
8- Open PPF Account in the Name of Your Child
You plan and your child will enjoy the PPF account which will have only maximum
5 year lock in period. Yes, it is possible if you open a PPF account for her, wh
ile she is in childhood. Till she becomes adult, first 15 year lock in period wo
uld be completed. Afterwards there would be lock-in period of only 5 years. As t
he minimum investment limit is only 500 per year, so this should not bother you.
Further, you can invest money in this PPF account for her study or marriage als
o. It will give you a double benefit.
----------------------------------------------------------------------------------------------------------------------------------------------------------------Even better, in case you have idle money at your disposal, a single deposit of R
s 1.5 lakh can be put into your PPF account before 5 April, right at the start o
f the new financial year, to earn interest for the whole year.But if you don't h
ave that kind of lump sum money, make sure you make a a monthly investment befor
e the 5th of every month. Of course, the minimum you can invest in PPF is Rs 500
a month.
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