PPF New Order: Complete this task by this date to avoid having these people's SSY and PPF accounts canceled

PPF New Order: Complete this task by this date to avoid having these people's SSY and PPF accounts canceled

PPF New Order: Complete this task by this date to avoid having these people's SSY and PPF accounts canceled

PPF New Order: A minimum amount must be maintained in order to keep the Public Provident Fund and Sukanya Samriddhi Account open. The account may become inactive by March 31, 2024, if the account user fails to maintain the required minimum amount. There will be a penalty that must be paid in order to keep the account operational. Do you know how much the minimum is for any of these schemes?

A minimum amount must be maintained in order to keep Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF) accounts alive. In relation to this, a new regulation has also gone into force. These accounts must have a minimum balance maintained until March 31, 2024. His account can go inactive if he doesn't keep up his balance.

A penalty must be paid by the account holder in order to revive an inactive account. Tell us the minimum amount that needs to be kept in the account.

PPF

The least amount that a PPF account holder must deposit is Rs 500. This implies that in a fiscal year, a minimum investment of Rs 500 will need to be made. The account might be closed if there is not enough money in it. March 31, 2024, is the deadline for keeping a minimum amount in a PPF account.

To reactivate the account, a penalty of Rs 500 must be paid if the required amount is not deposited before March 31. The fine is payable annually at the rate of Rs 50. To put it another way, in order to reactivate the account, you would need to pay the investment amount plus a fee of Rs 100 if it has been dormant for two years.

The account holder won't get many additional perks if the account is inactive since there isn't a minimum balance. On an inactive account, there will be no loan availability and no withdrawals allowed.

Yojana Sukanya Samriddhi

Sukanya Samriddhi Yojana requires a minimum balance of Rs 250. This implies that a person must invest Rs. 250 in the account each financial year in order to keep it operational. The account will become inactive if you choose not to participate in this program. The account holder would be required to pay an annual penalty of Rs 50 in order to reactivate the account.

Let us inform you that the government offers interest at an 8.2 percent rate under the Sukanya Samriddhi Yojana.