The journey is over, but you can still get more benefits, what does your PPF account say after 15 years?

News India Live, Digital Desk: Many of us worry about the future and make a small investment, and the most preferred and safe option among them is PPF means Public Provident Fund. Saving a little money every year for 15 years is a disciplined task. But as these 15 years are about to complete, a question arises in the mind.“What will happen now?”

Most people think that after 15 years the account will be automatically closed and the money will come into the account. But wait, after maturity you have some great options not only to withdraw the money but also to make it even better.

Option 1: Withdraw the entire amount and close the account (Close & Withdraw)
If you need a large amount of money for any special purpose like children’s marriage, house construction or children’s higher education, then you can withdraw your entire deposit amount and the interest earned on it. This is your right. The money will come directly into your savings account and the PPF account will be closed.

Second option: Extension without contribution
This is the most fun option. Suppose you do not need the money immediately after 15 years. So you can leave your PPF account as it is without making any new deposit from your pocket. The good thing is that the government will continue to pay interest every year on the amount lying there. Whenever you feel like it, you can partially withdraw your money once a year.

Option 3: Extension with fresh deposits
If you want to continue tax saving and want your fund to grow even bigger, then you can do this 5-5 year block Can proceed further. Just remember, for this you have to go to the bank or post office within one year of completing 15 years. Form H Must be deposited. This is best for those who are currently working and want to get tax exemption under 80C.

a little advice
PPF is not just a place to deposit money, it is the magical power of compounding. If you don’t have any important work at the moment, don’t put it off. Let it keep growing because saving Rs 1 lakh today can become the foundation of Rs 10 lakh in the future.

Go to your nearest bank or post office and check once when your maturity is and choose the one which is best for your future from the above options.

What is your plan? Will you go on a holiday after 15 years or will you invest this money for your future? Please give us your opinion in the comments