New Delhi: The financial year is going to end today. Since several deadlines are pegged to the month of March, the end of the month i.e March 31 is very crucial for investments.
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), it is high time you did so. While those who have already made their deposits, they must not worry.
Discontinued or deactivated PPF, Sukanya Samriddhi Account
If in any financial year, minimum deposit of Rs 500 in case of Public Provident Fund Account is not made, the said PPF account shall become discontinued. Discontinued account can be revived by the depositor before maturity of the account by deposit minimum subscription (i.e. Rs. 500) + Rs. 50 s default fee for each defaulted year.
For Sukanya Samriddhi Accounts holders, if minimum deposit Rs 250 is not deposited in a account in a FY , the account shall be treated at defaulted account. Defaulted account can be revived before completion of 15 years from the date of opening of account by paying minimum Rs 250 + Rs 50 default for each defaulted year.
Interest rate for Sukanya Samriddhi Accounts
The government has left interest rates unchanged for various small savings schemes –PPF, Sukanya Samriddhi Accounts and NSC among others, for the eighth straight quarter. The interest rates will be applicable beginning April 1, 2026.
For Sukanya Samriddhi Accounts, the Rate of interest 8.2% Per Annum 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.
Interest rate for PPF
For Public Provident Fund, the interest rates are 7.1 % per annum (compounded yearly). 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.
