PPF new order: Complete this task by March 31 to avoid having these people's SSY and PPF accounts canceled

PPF new order: Complete this task by March 31 to avoid having these people's SSY and PPF accounts canceled

PPF new order: Complete this task by March 31 to avoid having these people's SSY and PPF accounts canceled

PPF-SSY Account Update: To keep your Sukanya Samriddhi and Public Provident Fund accounts operational, you must maintain a minimum amount. The account may become inactive if the account user does not maintain the required amount by March 31, 2024. There is a fine that must be paid in order to keep the account operational. Do you know how much the minimum is for any of these schemes?

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

Reopening a dormant account will result in a penalty for the account holder. Tell us the minimum amount that needs to be kept in the account.

ppf

A minimum of Rs 500 must be deposited into a PPF account. This implies that within a fiscal year, a minimum investment of Rs 500 must be made. The account may be closed if there is not a sufficient amount in it. March 31, 2024, is the deadline for keeping a minimum amount in a PPF account.

A penalty will be charged to reactivate the account if the required sum of Rs 500 is not deposited before March 31. The fine for it is going to be fifty rupees a year. 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 extra perks if the account becomes inactive since there isn't a minimum balance. An inactive account cannot be used to get a loan and cannot have funds removed.

Yojana Sukanya Samriddhi

Sukanya Samriddhi Yojana requires a minimum balance of Rs 250. Thus, in order to maintain the account's activity, an individual must invest Rs. 250 every financial year. 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.

We would like to inform you that the government is offering interest at an 8.2 percent rate under the Sukanya Samriddhi Yojana.