HOW TO WITHDRAW PPF
How to manage money after losing spouse? 5 critical lessons to deal with family finances
In a sudden turn of fate, Shubha (49) became a sole guardian of her family's finances after her husband's death. With young children (17 & 13), she took charge, seeking guidance from trusted advisors. To secure their future, Shubha meticulously documented all assets (bank accounts, investments) and navigated complex paperwork to ensure ownership transitioned smoothly. Here are the financial lessons that you can learn from Shubha's journey.
It's never too late! Here's how you can plan your retirement even in 40s
Start retirement planning in your 40s with a focus on the asset mix, goal corpus, and expenses. Chirag Muni advises on disciplined steps, insurance coverage, and regular portfolio reviews for a secure post-retirement income.
PPF, Senior Citizen Savings Scheme, SSY, NSC: Is it mandatory to submit Aadhaar to invest in small savings schemes?
Small savings scheme: Do you need to submit Aadhaar mandatorily in order to invest in small savings scheme? The answer is yes. According to a notification by the Ministry of Finance, Aadhaar is now mandatory for investing in PPF, SSY, NSC, and other small saving schemes.
SSY deposit date: How much will you lose as interest if Sukanya Samriddhi investment is not made before April 5
Sukanya Samriddhi Yojana contribution: The rules for interest calculation for deposits made in Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) are same. Individuals having SSY account for their girl children should remember the deposit date to earn higher tax exempt income. If one is not careful of their deposit date, then one can lose month's interest rate.
7.1% PPF interest rate or 8.2% returns from Senior Citizen Savings Scheme (SCSS): Where should someone in 20% tax bracket invest?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Tax-saving investment: 7.1% interest in PPF or 8.25% returns in VPF; which is a better option to save tax this year?
Tax-saving investment ideas FY23-24: PPF has been a go-to option for traditional investors to save tax while planning for retirement. Is there any other option that offers higher returns, lowers your income tax outgo, and saves money for long-term goals? Yes, Voluntary Provident Fund (VPF). How does it VPF fare when compared to PPF Public Provident Fund (PPF) or Voluntary Provident Fund (VPF) — which is a better option for you to save tax in the financial year 2023-24.
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Top 6 investment options for women in India
An increasing number of women in India are entering the workforce and seeking financial autonomy. They have various investment options, including PPF, mutual funds, NPS, fixed deposits, NSC, and Mahila Samman Savings Certificate, to achieve their financial goals and secure their future.
Rs. 2 crore not enough to retire at 40; how to save Rs 3 crore for retirement
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
Best ways to save income tax: 10 tax-saving investment options for you
ET Wealth annual ranking of tax-saving instruments helps such individuals make the right choices. We assessed 10 tax-saving options on eight key parameters—returns, safety, flexibility, liquidity, costs, transparency, ease of investment and taxability of income. Each parameter has equal weightage and the composite scores determine the place in the ranking.
Liquidity and tax implications should be key factors for investing in any instrument: Shweta Rajani
Shweta Rajani says that when making investment decisions, it is important to consider taxation and avail tax-saving provisions like Section 80C. The approaching deadline for LTCG tax highlights the implications of selling various capital assets. ELSS is the preferred investment option over PPF and NPS due to higher returns and shorter lock-in.
How to earn Rs 1 lakh every month during retirement; experts answer
Want to your investments to work for you during retirement? Want to save money more efficiently? How to do tax planning this year? Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Tax saving ideas: Use these 6 financial, banking instruments to save taxes
With an emphasis on banking products, below are some financial instruments which can be used as investment and tax saving purpose.
I am an NRI planning to relocate to India. Can my investment corpus generate Rs 1 lakh a month?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
I want to save Rs 1 crore in 10 years. Is investing Rs 50,000 a month enough?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Tax-saving tips: 7 lesser-known investments, expenses eligible for tax breaks
Apart from popular tax deductions like 80C, 80D, 80G, there are lesser-known tax breaks. Here is a look at 7 such tax-saving options to choose from.
PPF taxation: Why the Public Provident Fund is a safe option to save tax; 5 things to know
Tax-saving investments: PPF offers tax exemptions at the time of investment, accrual, and withdrawal. It has a current interest rate of 7.1% per annum and a maximum deposit limit of Rs 1.5 lakh per financial year. PPF accounts can be extended indefinitely in blocks of 5 years. Additionally, it is advisable to diversify savings between PPF and equity investments for a balanced portfolio.
Opted for the old tax regime? Have you checked out these tax-saving instruments?
Preeti Khurana says: "Individuals should choose investment products based on their risk profile and investment horizon. Popular products under 80C include life insurance premium, ELSS, PPF, and ULIPs. Tax payers can switch from the old tax regime to the new tax regime at the beginning of the new financial year. Don't forget to claim tax benefits for health insurance and submitting reimbursement claims to reduce tax liability."
How to open ICICI Bank PPF account online? Get Step by Step process
The PPF due to the benefits of tax savings, returns, and safety, the program has now become one of the most popular long-term savings schemes.
I am 45 years old and my monthly expenses are Rs 1 lakh; where should I invest to retire at 50?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Canara Bank customers can make PPF, Sukanya Samriddhi Yojana contributions via NEFT from any bank
Canara Bank customers can now credit their Public Provident Fund and Sukanya Samriddhi Yojana accounts maintained at Canara Bank with this new facility.
Where to invest Rs 83 lakh to get regular income during retirement
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Retirement Planning: How to save for your retirement
Financial planners suggest a retirement corpus target that is about 20 times your annual income. While some feel that 30 times can be a better figure as it will take care of inflation.
How to extend PPF account after it matures; three options to consider
PPF account matures after 15-year lock-in term. But what about once it reaches maturity? What choices are available to you if you wish to keep using your PPF account?
How to add, change nominee in PPF account
Incase you want to add your wife's name or update it with another name, you can do so by filling out the required form, signing it, and submitting it to the bank or post office where your PPF account is being managed.
PPF or Sukanya Samriddhi Yojana: Where should you invest?
Only parents of a girl under the age of 10 years can open an SSY account. There is no such restriction for a PPF account.
How to pick the right nominee for life insurance, bank account, PPF, EPF, mutual funds, stocks
While a nominee is only a custodian of your assets, choosing the right one can ensure that your legal heirs get their inheritance rightly and on time.
What to do with PPF account after it completes 15 years
PPF is one of the most preferred investment options due to its tax-exempt status. However, once the PPF account complete its 15 years, an account holder may be confused about what he can do now to earn tax-free returns and with lower lock-in periods. Once the PPF account is matured, an individual account holder has three options.
Was PPF interest rate hiked for Apr-June 2023 quarter? Latest Public Provident Fund rate
For the quarter from April to June 2023, the government has increased interest rates on a number of small savings schemes by up to 70 basis points.
How to withdraw PPF money from account in bank? Step-by-step guide
If you wish to withdraw money from PPF account either partially or in full, you need to submit Form C at the bank where the PPF account was opened. Here are the steps you need to know to withdraw money from your PPF account in banks
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