Public Provident Fund Scheme: To woo the common customers, the bank often brings one plan after the other. In this episode, Punjab National Bank (PNB), the country’s second largest public sector bank, has made a big announcement for the customers investing in its Public Provident Fund (PPF). PNB has brought a special facility for its PPF customers, in which people can get more benefits in the government scheme.
PNB made this big announcement by tweeting
PNB has given a special gift to those who invest in PPF Scheme. Punjab National Bank has tweeted from its official tweet account that not only will your savings increase, but you will also get tax exemption. Along with this, the bank has indicated that now people investing in PPF will not even need to go to the bank branch. Now investors will be able to transfer funds online while sitting at home.
Savings bhi, tax mein bachat bhi in PPF account with PNB!
For more info,visit: https://t.co/uDOH5lNR87#Savings #PPF #Funds #Tax #DigitalBanking pic.twitter.com/VRtnQAEuGA
— Punjab National Bank (@pnbindia) August 5, 2023
You can start investing with just Rs 500.
Let us tell you that you can start investing in Public Provident Fund Scheme from Rs 500 also. Under the PPF scheme, you can invest by opening your nearest post office or bank account. At present, from January 1, 2023, the government is paying interest at the rate of 7.1 percent in this scheme and it matures in 15 years.
There is also an option to extend the investment period
The best thing about this scheme is that the investor (Public Provident Fund Scheme) can also increase it in a block of 5-5 years. For this only application has to be made. Along with this, the account holders also have the option of continuing or discontinuing their contribution.
Tax exemption is also available on investment
Not only this, those who invest in PPF scheme (Public Provident Fund Scheme) also get the benefit of tax exemption. Investors also get the benefit of tax exemption under section 80C of the Income Tax Department. Along with this, the amount earned in rupees of interest is also tax free. Investors can also get loan on completion of 5 years under this scheme.
