How many contributions can be made towards the PPF account in a month?

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• How is interest calculated on PPF?

  The interest rate in your PPF account is calculated on the lowest balance between the fifth and the last day of the month. Hence, to maximise your earnings, try making deposits between the 1st and the 5th of the month. Interest is compounded annually ...

• What documents are required to open a PPF account?

  Following documents are needed to open a PPF account Nomination form Copy of PAN card or Form 60-61 Form A or PPF account opening form Photograph (passport size) Residence and ID proof as per Know Your Customer (KYC) standards.

• Is it possible for individuals to transfer their PPF account to another person?

  No, individuals cannot transfer their PPF account to another person. Similarly, nominees cannot continue the PPF account under their names in case the account holder has passed away.

• What are the other advantages of PPF?

  Apart from tax benefits, there are other advantages of investing in PPF You can get a loan against your PPF between 3rd to 6th financial year. You can make partial withdrawals after 7th financial year of holding period. Account can be extended in a ...

• How is ELSS different from other tax saving options like PPF & NSC?

  ELSS is different from other tax saving investments in many ways. While most of them are debt instruments, ELSS is equity based. It has a relatively lower lock-in than schemes like PPF, NPS, etc. However, being market linked, it takes on more risk to ...