I extended the account by 5 years about 6 months back, but now urgently need the balance in my continued account urgently. is there any way I can foreclose the account?
Re: Foreclosing the extended account
by srinivas on Mar 21, 2011 12:37 PM
You can withdraw 60% of the balance at the end of 15 years. This you can do even though, you have opted for extension for a period of 5 years.
But our govt. is highly apathetic to this fund, still 8% interest whereas in EPF is 9.5%. Since this fund belongs to individually employed people, no organised union, Govt. wants to take advantage of the situation.
Re: PPF
by Jitesh Agrawal on Mar 21, 2011 12:32 PM
EPF rate of 9.5% is for one year only and will be back to normal rates from next year.
However I do agree that at 8%, SBI is making lot of money by having all those PPF accounts. They should atleast link it to one year deposit rates although they get these monies for long term.
Just a few days ago I had gone through a news item stating that the rate of interest on EPF is going to be hiked to 9.5 %.Can somebody c;arify whether this is going to be applied in case of PPF also.
PPF DIVIDEND SHOULD BE AR PAR WITH THAT OF PF SO AS TO ATTRACT MORE DEPOSITORS.PPF IS LONG TERM INVESTMENT AND GOVERNMENT MUST PROMOTE AND PROTECT THE SAME FROM MARKET VEGARIS AS THIS FUND COULD BE USED FOR INFRASTRUCTURE DEVELOPMENTS OF INDIA.
Re: WHY PPF ARRACTS ONLY8%DIVIDEND WHEN PF DOES 9.5%?
by vichitra on Mar 21, 2011 12:24 PM
its not 9.5%, its 8.5% for PF till date... they have recomemded the rate of 9.5%... and you know how things works in India... it can change any time... they have been prescribing the rate of 9.5% for the last one year...
Just a few days ago I had gone through a news item stating that interest rate on EPF is going to be hiked to 3.5 % . Can somebody clarify whether this is going to be applied in case of PPF also.
