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    Home News Update PPF Account New Rule :Government changed the rules of PPF account, if...
    • News Update

    PPF Account New Rule :Government changed the rules of PPF account, if not read, there will be a big loss

    By
    Sunil Kumar
    -
    March 7, 2022
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      PPF Account Withdrawal rule changed: Big news! Now you can withdraw full money even before the completion of maturity period, check what is process
      PPF Account Withdrawal rule changed: Big news! Now you can withdraw full money even before the completion of maturity period, check what is process

      PPF Account New Rule: If you also invest in PPF account, then you must read this news. A big rule has come from the government for those who invest in PPF, which will have a direct impact on the investors.

      Office Memorandum issued

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      It was clarified by the Finance Ministry that two or more PPF accounts opened by the same person on or after December 12, 2019, cannot be merged. An Office Memorandum (OM) has also been issued in this regard by the Finance Ministry.Cited 2019 rules

      It has been said in the office memorandum that the institutions operating PPF accounts should not send requests for merger of PPF accounts opened on or after December 12. Behind this, the rules of the year 2019 of PPF have been cited.

      Only one account will remain active

      After the issue of OM, in the circular issued by the post office, it was said that out of two or more PF accounts opened on or after December 12, 2019, only one account will remain active. Rest of the accounts will be closed. No interest will be paid on any account to be closed.

      understand by example

      For example, if you opened one PPF account in January 2014 and another in February 2020. So in this case your PPF account of February 2020 will be closed. No interest will be earned on this account. Similarly, if you opened the first account in January 2014 and the second one in February 2017, these two will be merged on your request.

       

      For example, if you opened one PPF account in January 2014 and another in February 2020. So in this case your PPF account of February 2020 will be closed. No interest will be earned on this account. Similarly, if you opened the first account in January 2014 and the second one in February 2017, these two will be merged on your request.

       

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      • PPF Account New Rule
      • rules of PPF
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        Sunil Kumar
        Sunil, has 4 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has pursuing MBA in Finance. He loves to Cycle daily and read books in free time. In case of any complain or feedback, please contact me @ discountwalas@gmail.com

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