Ppf: number of deposits per month
This query is : Resolved
21 May 2012
The maximum limit that one can invest in PPF account in a year is Rs. 1 lakh with either lumpsum subscription or maximum 12 instalments in a year. Is there also a maximum number of subscriptions in a particular month? In April 2012, I deposited Rs. 50,000/- on two different dates--my total deposit is Rs. 1 lakh. The bank has not raised any objection when I deposited twice in my PPF account in the same month. Kindly clarify what the PPF scheme states in this regard and if I should do anything.
21 May 2012
Minimum deposit in a year of Rs.500/- & maximum 1 lakh and you can deposit maximum one time in a month and in 12 times in a year
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22 May 2012
The PPF Scheme does not specify maximum one deposit in a month. It leaves the subscription to your convenience, but maximum 12 deposits in a financial year are allowed. The number of deposits, accordingly, can be more than one in a month also. Kindly advise your opinion.
29 May 2012
You can deposit any number of times in a month as long as the total amount does not exceed Rs. 1 lakh.
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