PPF Account: People plan in advance for their retirement or old age, for this, investments are made in different places and a part of the salary is saved. Public Provident Fund i.e. PPF is also one such scheme, in which crores of people invest. You get very good interest in it and it is completely safe, not only this, you can also save your tax with it. This is the reason why people invest in it every year. However, many people make a big mistake while adding balance to their PPF account, which they are not even aware of.
What is the 5th day funda?
Actually, five dates are very important for those investing in PPF, that is, they should invest by the fifth of every month. If they do not do so, they suffer loss of interest. If you deposit money in your PPF account between 1st and 5th of every month, you get full interest for that month. People who deposit money after the fifth day do not get interest for the month in which they have deposited the money. That means interest on this money will start from next month.
great savings scheme
Now you must have understood that interest in PPF is calculated only on the basis of five dates, hence whenever you deposit money in this account, keep this in mind. More than 7 percent interest is available in PPF account, also you can save tax up to Rs 1.5 lakh under 80C. Crores of people deposit a good amount of money in PPF account every year, by doing this they get a huge amount after completion of 15 years.
Now, if you have not done anything for your savings till now, then you can open a PPF account, this will help you save every month and also save money for the future.
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