What is the maximum limit for PPF per year?

Rs 1.5 lakh
While the maximum investment limit is Rs 1.5 lakh in a financial year, a minimum annual investment of Rs 500 is necessary to keep a PPF account active. An account holder may deposit money maximum 12 times in his/her PPF account in a year.

When was PPF limit increased to 150000?

PPF account investment limit was last enhanced by the late former Finance Minister Arun Jaitley in Union Budget 2015, when he increased it from Rs 1 lakh to Rs 1.5 lakh.

What happens if I invest more than 1.5 lakh in PPF?

However, an earning individual can’t have more than one PPF account and one can’t invest more than Rs 1.5 lakh in one PPF account in a particular financial year. However, the overall income tax exemption under Section 80c on investments will continue to remain capped at Rs 1.5 lakh per annum.”

Is there a limit on the amount you can invest in PPF?

FM Increases PPF Investment Limit in a year to Rs. 1.50 Lakh 6. Continuing PPF after the 15 year period The PPF account is valid for 15 years. The entire balance can be withdrawn on maturity, that is, after 15 years of the close of the financial year in which you opened the account. Once your account expires, you can open a new one.

What was the interest rate for PPF in 2013?

PPF Interest Rate 2013-14 – 8.7% PPF Interest Rate 2014-15 – 8.7% PPF Interest Rate 2015-16 – 8.7% PPF Interest Rate 2016-17 (1st April 2016 – 30th September 2016) – 8.1% PPF Interest Rate 2016-17 (1st October 2016 – 31st March 2017) – 8.0% PPF Interest Rate 2017-18…

Is there an age limit for opening a PPF account?

PPF Limits for Age. Any person of any age can open a PPF account. Parents/Legal guardians can open PPF accounts for minors. However one parent can only open one PPF account for one minor. In such a case, the PPF maximum contribution limit of Rs 1.5 lakh applies to the combined deposits in both accounts.

What is the maturity amount of PPF in 15 years?

In this chart, the total amount that is paid is Rs. 1,50,000 for which the interest earned is Rs.6,175 and closing balance for that financial year is 1,56,175.00. When the payment is continued for the next 15 years then the maturity amount will be Rs. 41,10,763.70.