Here are the facts about my PPF investment model. I have been investing a total of more than Rs. 100k p.a. in the PPF accounts of my wife, my son and my own. The SBI passbooks in all three show interests as per the prevailing rates. Though the investment per account is less than Rs. 100k, but the sum total is more. I have planned this way to generate money for kid’s education.
I really don’t understand why your site tells about the total limit to be upto Rs. 100k. I need you to clarify this point beyond any doubt so that several people like me get clarity about this kind of finacial planning.
If I had been committing mistake for last few years, when and how it will be rectified? What will be the implications for me or for the bank?
Tamaso ma jyotirgamaya.
Thanks