The Public Futures Fund is a very popular small savings plan. A large number of people invest here. One of the biggest advantages of investing here is money security. Also, by investing here, you also get a tax deduction and the PPF interest is also exempt from tax net. Today, PPF is receiving a 7.1% interest rate. The government’s decision, issued on March 31, said it had lowered interest rates, but it was withdrawn by morning.
Sweet news! Petroleum Minister Dharmendra Pradhan has suggested that petrol, diesel and LPG prices could be cut.
According to the government’s decision, interest rates were up 7.1 percent so far this quarter. In such a situation, if you wish to invest in a public futures fund, do not change your decision, as current interest rates will continue until June 30, 2021. Apart from the interest rate, there are many things you need to know.
Invest at the beginning of the financial year
We often invest in the public futures fund at the end of the fiscal year for tax deduction. In such a situation, we claim tax for the tax deduction under 80C but no interest for the entire year. In such a situation, it is best to invest in PPF at the beginning of the financial year. With this, you get the best interest with tax deduction.
Learn how many days you double your money by investing in PPF
Make a maximum contribution for the first 5 days of the month
One should always invest money in a PPF account during the first five days of the month. This will give you a month’s interest. For example, if you have contributed at least 50 thousand rupees but you are depositing 20 thousand rupees on 6th April, you will get only 50 thousand rupees interest instead of 70,000 April.
