BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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14 installments
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16 installments
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18 installments
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12 installments
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Detailed explanation-1: -You can make a deposit to a PPF account ranging from Rs.500 up to Rs.1.5 lakh per financial year. The deposit can be made in a lump sum or in instalments. There is no restriction on the number of instalments per financial year.
Detailed explanation-2: -Earlier, you could deposit funds in your PPF account only twelve times during a financial year. However, per the new PPF rules, there is no restriction on the number of deposits. You can deposit funds in multiples of Rs 50, but, per usual, your maximum annual deposits cannot exceed Rs 150, 000.
Detailed explanation-3: -A person is allowed to make a maximum of 12 deposits per financial year in the PPF account. Also, such deposits cannot be more than 2 in any particular month. 2.
Detailed explanation-4: -Know the basics: You can make investments in the PPF every year (in a maximum of 12 instalments) right from Rs. 500 up to Rs. 1.5 lakh. You can make investments either in your name or on behalf of a minor.