PPF investment before April 5: Investing in PPF account before April 5 can earn the PPF account holder more interest. Making lumpsum investment for the entire year after this date will make a PPF investor to lose a month s interest. Read on to know how much you lose if an individual misses this date.
Investors should note that the interest rate on PPF accounts is calculated on the minimum balance between the fifth day of the month and the last day of the month. Therefore, when one deposits the money before the fifth of every month, he can earn the interest for the entire month.
Investments made through tax-saving FDs qualify for tax savings under section 80C of the Income Tax Act, making them an attractive option for individuals looking to reduce their tax burden.
Whether one is a salaried person or has a small or big business or is self-employed or is a gig worker, they all look at PPF as a saving instrument; here's why