Invest before the 5th of every month
To ensure maximum interest accrual, make your monthly contributions before the 5th of each month. Since interest is calculated on the lowest balance between the 5th and the last day, any deposits made after the 5th will not be considered for interest calculation during that month. This simple habit can significantly boost your returns over time.
Invest lump sum amounts at the beginning of the financial year
If you have the financial flexibility, consider depositing a lump sum amount at the start of the financial year, ideally before the 5th of April. This ensures interest accrual for the entire fiscal year, maximising your returns. Lump sum investments also eliminate the hassle of monthly deposits and allow your money to grow uninterrupted.
Open a PPF account with a bank that offers online transfer
Managing your PPF account becomes easier when your bank provides online fund transfer facilities. This feature allows you to make timely deposits without visiting a branch, ensuring you never miss the critical 5th-of-the-month deadline. Banks like ICICI Bank offer this convenience, making it easier to stay consistent with your investment strategy.
Benefits of investing in PPF before 5th of every month
Depositing funds before the 5th of each month ensures that your contributions are included in the interest calculation for that month. Over the years, this habit can lead to a noticeable difference in your total earnings. Moreover, early deposits demonstrate financial discipline, helping you stay on track with your savings goals.
To further strengthen your financial portfolio, consider Bajaj Finance Fixed Deposit as an additional investment avenue. With high stability and returns of up to 7.30% p.a. for senior citizens, it complements your PPF savings perfectly. Open your FD today and secure predictable growth for your financial future.