PPF interest rate: PPF account holders will get Rs 18.18 lakh interest if they invest before 5th, understand the complete calculation

PPF Scheme News: If you have also invested in PPF account then this is useful news for you. The date of April 5 is very important for those investing in Public Provident Fund. If you invest till April 5, you may suffer a loss of lakhs. In such a situation, if you are depositing the money in lump sum, then take special care that you deposit Rs 1.5 lakh before the 5th. Let us explain to you what is the complete calculation-

Interest in PPF account is calculated on the 5th of every month. If PPF investors are making lump sum payment for the financial year, they should deposit this money before April 5 to earn more. With this, investors will get the benefit of interest throughout the month.

You will get interest of Rs 18.18 lakh on investment before 5th.

At present, 7.1% interest is being given annually on PPF for the quarter April-June 2024. This interest rate remains for the tenure of 15 years of PPF account. A person will get an interest of Rs 18.18 lakh if ​​he deposits Rs 1.5 lakh on or before April 5 every year for the next 15 years.

Loss of Rs 2.69 lakh on investment after 5th

At the same time, if the PPF account holder deposits after April 5, he will get interest of Rs 15.84 lakh. Therefore, if the lump sum amount is invested after April 5, the PPF account holder will suffer a loss of Rs 2.69 lakh over a period of 15 years.

There will be no interest on this money in April

Suppose a PPF account holder deposits money in the PPF account on 15th April. As per PPF account rules, its monthly interest will be calculated on the lowest balance between April 5 and April 30. You will not get the benefit of interest in the month of April on the amount deposited on 15th April.

Currently getting 7.1 percent interest

Let us tell you that at present interest is being given in PPF at the rate of 7.1 percent. Whatever minimum balance remains between the 5th of the month and the last date of the month, interest is added on it in the same month. Whatever money you deposit after the 5th, you will get interest from the next month.