New Delhi:
To keep your PPF and SSY accounts working, you must have a certain amount of money in them. There’s a new rule you need to follow.
You need to make sure there’s enough money in your account until March 31, 2024.
If you don’t keep enough money, your account might stop working. And it it gets frozen, you have to pay a fine to make it active again.
PPF
If you have a PPF account, you need to put at least Rs 500 in it. It means you have to invest at least Rs 500 every year.
If there isn’t enough money in the account, it might be closed. The last date to have this minimum amount in your PPF account is March 31, 2024.
If you don’t put Rs 500 in the account by March 31, you will need to pay an extra amount to start using the account again.
The extra amount is Rs 50 for each year. To make it clear, if the account is not used for 2 years, you’ll need to pay Rs 100 extra to restart it, along with the investment amount.
If your account isn’t active because there’s not enough money, you won’t receive some other advantages.
If your account is not active, you cannot borrow money, and you cannot take any money out of the account.
Sukanya Samriddhi Yojana
You need at least Rs 250 in the Sukanya Samriddhi Yojana to keep it active. It means you have to put Rs 250 in it every year.
If you don’t put money in this plan, the account will be stopped.
To use the account again, you have to pay Rs 50 extra for each year.
Let me share with you that in Sukanya Samriddhi Yojana, the government adds extra money at a rate of 8.2 percent.
