PPF means Public Provident Fund. If you have a PPF account and Your PPF account has been closed. Don’t worry about it, We will see how to restart your PPF account if it is closed.
For all questions related to the PPF account, we will try to solve that problem. However, If you have any other problem then write in the comment box below we will try to solve them also.
In today’s modern world, We should do investment. As you all are aware due to coronavirus many people have not got the food on time. So, I want to tell you that “Investment can back you in the bad time“.
What is the Public Provident Fund ( PPF )?
Public Provident Fund ( PPF ) is a popular investment scheme in India among investors due to its multiple investor-friendly features and associated advantages. It is a long term investment. It comes in safe investment options with high returns in India.
The PPF is backed by the government of India. In the PPF account, You can invest a minimum of Rs.500 and a maximum of Rs.1.5 Lakh annually. Investing in these funds is also very important in terms of tax exemption.
There is a benefit of a tax deduction on investment. Apart from this, there is no tax on maturity amount and interest on investment. It means it is totally tax-free. Today in this world, with The inflation and risk of the investment we have to choose the best option to invest.
So, In this condition, the Public Provident Fund ( PPF ) is the best option to choose for investment. It is backed by the government of India, it makes more value. So, If your PPF account has been closed then not to worry about it, It can be restart.
Let’s see, How to reopen the PPF account If it has been closed?
Due to any reason if your PPF account has been closed and you want to reopen it then you have to give a written application to the bank or Post office where ever you have your PPF account.
If your PPF account has been closed then it can be resumed during maturity. For this, A fee of Rs 500 plus Rs. 50 will be paid annually basics. This fee will be payable annually.
It should be noted here that the balance in the closed account cannot be received by the account holder before the maturity of these funds. Don’t worry, If your PPF account has been closed then it can be reopened by giving the written application.
Last word from Mini invest
I hope you have understood that “How to reopen your PPF account if PPF account has been closed