- By Aditya Pratap Singh
- Wed, 31 Jan 2024 04:12 PM (IST)
- Source:JND
PPF Extension Rules: The Public Provident Fund (PPF) is considered to be one of the highly investible government-backed instruments, which guarantees investment interest. PPF is a scheme for long-term goals as it matures in 15 years and has the benefit of compounding. A good fund can be generated by Investing in PPF.
PPF Interest Rate
At present 7.1 percent interest is available on investment in PPF. Although the maturity period for investment in the scheme is 15 years, it can be extended. Do you know how many times PPF extension can be done? If you have invested then you must know the scenario.
How many times PPF can be extended
In the case of PPF extension, the investor has two types of options – first, account extension with contribution and second, account extension without investment. If an investor wants to get it extended while continuing the contribution, then you can get it done in a block of 5 years. With this, your account gets extended for 5 years at one go. You can get a PPF extension done any number of times.
How will the extension be done with a contribution?
After 15 years, if you want to continue the PPF account with contributions, then you will have to apply to the bank or post office where the account is maintained. You will have to give this application before completion of 1 year from the date of maturity and fill out a form for extension. The form will be submitted to the same post office/bank branch where the PPF account has been opened. If you are not able to submit this form on time, you will not be able to contribute to your account.
However, if an investor does not want to make any investment in a PPF account after 15 years, but wants to take advantage of its interest, you don't need to inform the bank or post office. If he does not withdraw the amount after maturity, he will earn interest automatically.
