Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
Yes Cash as well cheque can be deposited in PPF account that too unlimited but rebate under 80C will be up to Rs 1.00 lac. But any type of account is first opened with cash only.
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Yes, you can deposit cash in your PPF account
•The deposits shall be in multiple of Rs.5/- subject to minimum amount of Rs.500/-.
•The minimum deposit is 500/- and maximum is Rs. 70,000/- in a financial year.
•One deposit with a minimum amount of Rs.500/- is mandatory in each financial year.
•The deposit can be in lump sum or in convenient installments, not more than 12 Installments in a year or two installments in a month subject to total deposit of Rs.70,000/-.
•It is not necessary to make a deposit in every month of the year. The amount of deposit can be varied to suit the convenience of the account holders.
in one very simple word, unlike the top contributors who have replied earlier, the answer is Y E S
Yes, you can deposit cash in your ppf account.
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