PPF, Sukanya Samriddhi scheme subscriber? Know why March 31 deadline is significant for you

New Delhi: The month of March is very crucial for investments. Since the end of the financial year falls in the month of March, several deadlines are also pegged to the month automatically. If you are a subscriber of Public Provident Fund (PPF) and Sukanya Samriddhi Yojana, March 31 deadline is significant for you. 

The Minimum Amount for opening of account and maximum balance that can be retained for both Public Provident Fund and Sukanya Samriddhi Yojana is the end of a financial year. Hence, if you have not deposited the minimum balance before the end of the financial year (March 31), your account will be rendered inactive.

Incase you have not deposited the minimum balance in PPF or Sukanya Samriddhi scheme, you should do this before the end of this month. While those who have already made their deposits, they must not worry.

For Sukanya Samriddhi Accounts, the Rate of interest 7.6% Per Annum (with effect from 01-04-2020 ),calculated on yearly basis ,Yearly compounded. For Sukanya Samriddhi Accounts, minimum Rs 250 and Maximum Rs 1.5 lakh can be deposited in a financial year. Subsequent deposit in multiple of Rs 50 deposits can be made in lump-sum. There is no limit on number of deposits either in a month or in a Financial year.

For Public Provident Fund, the interest rates are 7.1 % per annum (compounded yearly) from 01.04.2020. The minimum balance for PPF IS Rs 500 while maximum Rs 1.5 lakh can be deposited in a financial year. Deposits can be made in lump-sum or in installments.