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10 Must-Known Facts about PPF Accounts

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Public Provident Fund, popularly referred to as PPF, is an excellent way to start saving money because PPF accounts are tax-free. As a systematic saving investment, it encourages individuals to set aside some money every month towards savings for the future.

Even Though PPF accounts are popular but not many people know about PPF accounts banks benefits for investors. Here are 10 must-known facts that investors need to make note of in order to maximize their benefits.

What is the Minimum Amount Required to Open PPF Accounts?

The minimum amount to start a PPF account is Rs 100 that can be opened by salaried employees, self-employed individuals, and other individuals. PPF accounts onlinebanks can be opened at any SBI or affiliated banks like Bank of Baroda or Central Bank of India.

Another option available to investors must know about PPF accounts that it can be opened at the post office. Additionally, in case of a minor, an individual can open an account on their behalf by the guardian.

What is the Maturity Period of PPF Account?

Also, what most people don’t know about PPF accounts banks mature after 15 years and hence are an excellent way to systematically invest in this plan which is tax-free as well.

What are the Minimum and Maximum Deposit Limit for PPF Accounts?

The minimum deposit limit for PPF accounts banks are Rs 500 to make over the course of a year and the maximum amount is 1 lakh in one financial year.

Deposits can be made in one go or installments in multiples of Rs 10. However, only 12 installments can be made each fiscal year.

Failure to deposit the minimum balance will lead to the PPF accounts banks being discontinued. However, note that the interest will accrue and once the payments are regularized and the prescribed default fee is paid, the account can be operated as usual.

How is Interest Calculated for PPF Accounts?

It is important that investors are aware of PPF accounts interest calculation method. This way, they will be able to calculate the interest and take a call on how much to save each month.

The first important point to note about PPF accounts banks is that the interest is based on the lowest balance between 5th of the month and the last day of the month. To maximize savings deposits should be made between 1st and 5th each month.

Note that the PPF interest amount is compounded annually and it is credited on 31st March every year.

What happens if Premature Withdrawals are made from PPF Accounts?

In the case of premature withdrawals are allowed from the 7th year onwards and it cannot exceed 50 percent of the balance amount at the end of the 4th year. However, the account can be closed prematurely permanently in case of death.

What is the Tax Benefits Extended by PPF Accounts Banks?

The tax benefits extended by PPF account back are as follows:

  • Qualify for deductions under Section 80C
  • The entire amount of maturity is tax-free
  • Deposits exempted from wealth tax

Whatis the Terms You Should Know about PPF Accounts Regarding Loans?

Another question that most people are unaware of PPF accounts is that a loan can be taken against PPF accounts banks but under certain conditions. The terms under which a loan can be taken are as follows:

  • The loan can be availed between 3rd and 6th year
  • Maximum of 25 percent balance must be maintained at the end of 2nd year
  • The interest rate charged on the loan will be more than 2 percent of the PPF interest rate at that time
  • Withdrawals must be repaired in a period of 24 months

Being aware of these terms and conditions about PPF accounts will help give respite to investors.

Can a Second Loan be taken on PPF Accounts Banks?

Something about PPF accounts that people need to know about is that a second loan can be taken up by investors between the 3rd and 6th year only if the previous loan has been prepaid in full. Once the account holders become eligible for withdrawals they will no longer be eligible for taking up loans.

Can the PPF Accounts Banks Subscription Period be Extended?

Another aspect that most people are unaware ofPPF accounts subscription period. After the 15 year period, account holders have an option to extend the period by 5 years.

However, it should be noted that the same rate of interest will be levied on the account. In case, despite the extension, regular contributions are not made then the withdrawals will be restricted and allowed only once a year.

Can NRIs Open PPF Accounts?

Another question that people have about PPF accounts is whether NRIs can open PPF accounts banks. No, NRIs are not eligible to open PPF accounts banks.

In cases where an account holder settles abroad then existing accounts are allowed and can contribute to it till the maturity period.

The pros outweigh the cons when talking about PPF accounts. Hence, as a systematic investment plan, it presents several advantages that investors should take up and capitalize on by deriving the maximum benefit extended.

 

27 years old. I help entrepreneurs become go-to in their industry. And, I like helping the next one in line. You can follow my journey on my blog, Strong Article, Hufforbes, Cross Article, Press Business & RanksFeed Blogs

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What is the zerobank and what it offers?

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Blossoming of the cryptocurrency as well as blockchain technology has motivated the pioneers of the present world. The technologies of today have brought about the opening of locked doors as well as it has led to the creation of new currencies. Even though the cryptocurrency has a huge impact on the global economy yet it is not recognized as “money”. It will take some time for the new market to get stabilize and the pioneers to figure out the way to compete with deep-rooted fiat currency. However, still the world economy is functioning by a legacy system of 164 authorized national currencies and the problem of exchanging these currencies persist till now.

What is Zerobank?

It is an innovative money exchange platform allowing the customers to make non-commercial transactions globally and also it launches its initial coin offering to the participants. This platform makes use of the smart contracts as well as blockchain technologies and aims to remove the traditional remittance as well as exchange systems.

It helps in peer to peer sharing of the economy and here, the earned money from the centralized organization goes back to the community. In addition to blockchain technology, this project makes use of the shared economy model. This model maximizes the benefits for the user who uses this system by cutting down all the intermediary costs from Money transfer organization and current banking. Zerobank offers an opportunity to its participants to become an agent as well as earn the extra money by bringing up the valuable services to the people around them.

ICO information-

The total number of security token issued is 1,600,000,000 ZB and the number of security token available for the sale is 640,000,000 ZB. The amount of this target sale is about 48 M dollars and the pre-ICO bonus offered will be 15%.

If you want to know further about the token sale then visits its official link. Zerobank has a team of the experienced IT members, the senior executive in top money exchange/ transfer, banking as well as financial service organization. Kai yee goh is the CEO who is also a senior executive in the transfast, united financial group, Harte-Hanks, PayPal and Western Union. Also, bao ly CTO, who is expert IT architect in financial and banking services, is present in the team. He has extensive work experience in consultancy as well as an architect as his work in the BNP Paribas Fortis, HSBC and AXA.

Other team members of the zerobank are also well-known individuals; the team of zerobank is working to disrupt the present exchange and money transfer services available worldwide. Hurry up and make use of this amazing platform today. Becoming the part of this platform you can gain various benefits and get solution to the traditional banking problems. If you are a tour guide, salesman, or student and searching for the job opportunity then this platform are made for you. Become the agent of zerobank today. Before using this platform makes sure you read its terms of use and policy.

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Diamond Power Infrastructure on a transformational spree with Digital India program

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India, being one of the fastest growing economies in the world, is witnessing a digital revolution. PM Narendra Modi has trotted out numerous programs to promote Digital India, ensuring digital inclusion across the country. On this note, Amit Bhatnagar Diamond Power MD, has digitally-empowered his company, in the field of manufacturing power transmission equipment.

Diamond Power Infrastructure Ltd, also known as Dicabs, was the first Indian company to manufacture alloy conductors and proto-test HSHC (High Strength and High Conductivity) conductors. Today, Dicabs is the only company in India, which holds a BIS mark certification for alloy conductors.  It also complies with the ISI quality standards for manufacturing all types of conductors.

The Vadodara- based company has also established India’s headmost ‘continual horizontal lead extrusion facility’, along with the ‘aluminum corrugation facility’ for cables (66KV). Dicabs is also ranked at the fifth position in the world, for manufacturing extra high-voltage cables up to 550 KV.

The homegrown companies are getting new opportunities to grow, as the Centre has reduced imports in the segment. India is on a transformational spree, and will become a hub for technology and innovations in the coming years. The initiative has already received pledges from Diamond Power Infrastructure Ltd and other corporate ventures, with investments worth Rs 4.5 lakh crore. This figure is expected to surge as the ‘Make in India’ campaign gains momentum.

Amit Bhatnagar Diamond Power

Amit Bhatnagar believes that quality and technology go hand in hand. Being a technocrat, he has always supported technology by reining on state-of-the-art technology for all business operations.

His ability to sense, envision and adapt to change pertaining to technology has been the company’s key growth driver, since the initial years. “With India progressing on the path of innovation and technology, Dicabs would unremittingly partner its journey towards successful frontiers. Simultaneously, we would continue to adapt to as well as lead the change through proactive investments in technology,” says Amit Bhatnagar.

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Diamond Power Infrastructure on a transformational spree with Digital India program

Published

on

By

amit bhatnagar diamond power

India, being one of the fastest growing economies in the world, is witnessing a digital revolution. PM Narendra Modi has trotted out numerous programs to promote Digital India, ensuring digital inclusion across the country. On this note, Amit Bhatnagar Diamond Power MD, has digitally-empowered his company, in the field of manufacturing power transmission equipment.

Diamond Power Infrastructure Ltd, also known as Dicabs, was the first Indian company to manufacture alloy conductors and proto-test HSHC (High Strength and High Conductivity) conductors. Today, Dicabs is the only company in India, which holds a BIS mark certification for alloy conductors.  It also complies with the ISI quality standards for manufacturing all types of conductors.

The Vadodara- based company has also established India’s headmost ‘continual horizontal lead extrusion facility’, along with the ‘aluminum corrugation facility’ for cables (66KV). Dicabs is also ranked at the fifth position in the world, for manufacturing extra high-voltage cables up to 550 KV.

The homegrown companies are getting new opportunities to grow, as the Centre has reduced imports in the segment. India is on a transformational spree, and will become a hub for technology and innovations in the coming years. The initiative has already received pledges from Diamond Power Infrastructure Ltd and other corporate ventures, with investments worth Rs 4.5 lakh crore. This figure is expected to surge as the ‘Make in India’ campaign gains momentum.

Amit Bhatnagar Diamond Power

Amit Bhatnagar believes that quality and technology go hand in hand. Being a technocrat, he has always supported technology by reining on state-of-the-art technology for all business operations.

His ability to sense, envision and adapt to change pertaining to technology has been the company’s key growth driver, since the initial years. “With India progressing on the path of innovation and technology, Dicabs would unremittingly partner its journey towards successful frontiers. Simultaneously, we would continue to adapt to as well as lead the change through proactive investments in technology,” says Amit Bhatnagar.

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