New PPF Rules: Government made these big changes in PPF rules, will be implemented from October 1

Many people in the country invest in Public Provident Fund Scheme. This investment option is very popular across the country. At present, you are getting an interest rate of 7.1 percent on investing in PPF. You get guaranteed returns by investing in PPF scheme. The money invested in this scheme does not have to face any kind of market risks.

You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh annually in PPF scheme. The money invested in PPF matures in 15 years. However, you can extend your investment period for five years. If you are also investing in Public Provident Fund Scheme, then this news is especially for you. There have been some changes in the rules related to Public Provident Fund Scheme. Let us know about them in detail -

According to the circular, the changes in the rules of the PPF scheme will come into effect from October 1, 2024. If you have an account in the Public Provident Fund Scheme, then you must know about these changed rules.

According to the circular, PPF accounts opened in the name of minors will get interest equal to the post office savings account. When the minor turns 18 years of age, he will be paid the full interest rate.

For those investors who have opened more than one PPF account, the interest rate of the PPF scheme will be applicable only on their primary account. Apart from this, the balance of the second account will be put in the primary account.

According to the circular, the interest rate equal to the post office savings account will be given in the NRI PPF account till September 30. After this, no interest will be available on it.

(PC: ISTOCK)