Investment In PPF A/C made on or before 5th of month qualifies for interest for the month

State bank of India has forwarded a SMS to its customers regarding interest on PPF account, the SMS states that Dear Customer, As per GoI guidelines, investment in PPF account made on or before 5th of the month qualifies for interest for month, this message has been forwarded as a initiative by State Bank Of India to inform its customers regarding how they can take maximum benefit out of their investments.

Hence, Individuals who want to make maximum return from their investments should invest in PPF account before 5th.

However it was also observed that many people who were trying to invest their money in this account, were facing problem in depositing.

Ways of depositing in PPF account

Standing Instructions –

In order to deposit money automatically to your PPF account you can give standing instructions to your bank, and bank will automatically transfer funds to PPF account. Maximum restriction on depositing amount is Rs.1,50,000/-

Net Banking –

You can use net banking services to deposit money to your PPF account, Using net banking you can deposit money to your PPF account, whenever you want as per availability of funds. But as per the guidelines try to deposit money before 5th to earn maximum interest from your investment.

ECS Mandate

In order to automatically transfer money from your bank account to PPF account you can use ECS mandate as well. For this you just need to set up an ECS mandate. Banks have a specified procedure to set this mandate . you just need to visit branch and submit mandate. For few banks its available in offline mode and for few you can even download online form.

Conclusion

Invest before 5th of the month to qualify for interest for the month.