Hi, I would like to know the procedure to take loan on my PPF account. I have opened my account in 2007-08. When I would be eligible for loan on PPF? And what is the maximum amount I can take on my PPF investment?
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Hi, I would like to know the procedure to take loan on my PPF account. I have opened my account in 2007-08. When I would be eligible for loan on PPF? And what is the maximum amount I can take on my PPF investment?
The first loan you can take in the third year of opening the account i.e., in your case - your account is opened in the year 2007-08, the first loan can be taken during the year 2010-11Quote:
Originally Posted by samir
The amount of loan will be restricted to 25% of the balance including interest for the year 2007-08.Quote:
And what is the maximum amount I can take on my PPF investment?
Rate of interest of PPF loan is cheaper than personal loan rate of banks.Quote:
The rate of interest on the loan taken will be around 2% above the rate of interest earned on the deposits in PPF.