PSA for PPF investors: Invest INR 1.5L before April 5th to avail maximum interest for the FY.

[jossystephan]

Please look into this link for exact calculations.

TLDR: If you invest INR 1.5L between 1st April and 5th April of the FY, you will get maximum interest for the year due to how interests are calculated in PPF.

 

[ania]

@jossystephan My bank has disabled any transaction to PPF cuz year ending :'(

 

[gvze]

@ania check tomorrow

 

[ania]

@gvze Anxiety ho raha lmao. It's just taking time in my brain.

The services will be down from midnight till 5 am tomorrow.

Yep I'll just wait for tomorrow

 

[gvze]

@ania its ok man. take slow 8 deep and slow breaths and do one productive activity next. and tell yourself you will put money tomorrow at 12 noon.

 

[ania]

@gvze Will do!!!

 

[ania]

@gvze I put the money

 

[gvze]

@ania bravo !

 

[ania]

@gvze

 

[selam]

@gvze How do you deposit online, by adding PPF acct as beneficiary and transferring to it?

 

[gvze]

@selam i have my ppf account opened with icici. so i can deposit through the app or my online account. just by usual 'add funds' button.

 

[samr1977]

@gvze hey i just got started and did the wirh my icici acc. does interest get added to my amount every year by itself as a part of the balance in my ppf?

 

[gvze]

@samr1977 yes. every yr on april 1st you will have interest added by itself.

 

[ania]

@selam Every bank has different working I think. Best to check how your bank dues it. Mine just adds it as an account to which I can transfer

 

[despreate]

@ania Try now, usually it’s enabled by 1st evening. I just did mine

 

[ania]

@despreate I'm still getting the same message!

 

[selam]

@despreate How you deposit online ?

 

[ania]

@selam My bank has facility to transfer from my bank account to ppf

 

[iarunner]

@jossystephan I have ~10L in PPF. Shall I put money in PPF itself or look for Tax saving fund for more returns. Bcz 1.5 L is what 80C gives.

 

[kiterider]

@iarunner 1.5L every fiscal year. You haven't put your 1.5L for this year yet right? The 10L that you put previous years won't be considered for tax exemption, only 1.5L you put this year.