January 30, 2012 7:21 pm
Hi To All,
I have a Saving & PPF Account in SBI Bank. Whether ECS facility is available in SBI to transfer fund from Saving account to PPF account on monthly basis?
Dear Kulkarni P, Please note that the interest is paid at simple rate for the months amount is there in the FY in PPF after the invested month. So to earn this simple interest @ maximum possible, it’s advisable to invest at the start of the FY itself, This way, you ‘ll earn full FY interest on your interest.
I was under impression that, it would be better to invest in PPF as lump sum amount in Jan-end or Feb first week. Interest calculation happens on balance as of March first week.
That’s why I used to put one time amount in the month of January.
Please suggest the best possible time of the year for PPF investment.
Dear Priya, Although it’s advisable to invest full amount in one lump sum at the start of the FY in PPF but in case you are not able to do so, you may use SBI’s netbanking facility to schedule transferring of money from SB account to PPF account.
For more details, please check a recent post of dear Manish on the same subject.
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