The Buyt Desk
Public Provident Fund (PPF) is a savings cum investment plan backed by the Government of India. The main aim of this investment is to help in accumulating a corpus for a comfortable retired life. PPF is also considered to be the the most secured and preferred saving scheme for investors with a low-risk appetite.
How to open a PPF account?
You can easily open a PPF account either in a bank or at a post office. It is easy to maintain and operate the account. The PPF account holder is required to deposit a minimum of Rs 500 and a maximum of Rs 1.5 Lakhs every financial year. Apart from that, this account also gives income tax benefits of up to Rs 1.5 Lakhs.
PPF has been giving a decent return on investment. For the financial year 2021-22 in the January-March quarter the investors received a compound interest of 7.1%, the highest among different government-backed saving schemes.
The interest rate of the PPF account is determined by the finance ministry annually, which is scheduled for 31st March. The interest is compounded on the lowest balance present in the PPF account between the month’s fifth and final day.
How To Link Aadhar With PPF Online?
To link the Aadhaar card with the PPF account, follow five steps.
Step 1: Log in to internet banking.
Step 2: Click on the option ‘Aadhaar number registration in Internet Banking’
Step 3: Enter 12 digit Aadhaar number and click on the ‘Confirm’ button.
Step 4: For linking Aadhaar with PPF, select the same option, then click on the Finish button.
Step 5: You can check your Aadhar card linking status on the home page. Go to the inquiry option on the homepage to check the details.
Why Is It Important To Link Aadhaar With PPF Account?
According to the government notification, the aadhaar must be linked with the PPF account. It is mandatory to avail monetary benefits.
