Is your PPF account discontinued because you forgot to make the minimum deposit of Rs 500? Don’t worry! In this video, we will explain to you in simple language how a closed PPF account can be reactivated in just a few steps. When PPF is closed, you suffer many big losses – Loan and Partial Withdrawal stops, only basic interest is given on maturity, entire tax benefit of Section 80C ends but the good thing is that reviving PPF is very easy and cheap. All you have to do is follow these steps: 1 Go to the bank or post office where the account was opened 2 Fill the Revival Form 3 Deposit Rs 500 for every year the account remained closed 4 Add only ₹ 50 penalty every year 5 Submit Form + Payment Slip + Passbook 6 Get the Passbook updated—and PPF is back on! There is no time limit to revive PPF, just do it before maturity. After becoming active, you will again start getting tax benefits, high returns and all PPF facilities.

In today’s time, if there is a sudden need for money, people first resort to personal loan. Whether you want to repair your house, meet wedding expenses or need immediate money for some important work, personal loan from banks and NBFCs has become an easy option. But do you know that your salary and CIBIL score decide how much loan you can get. Let us tell you today how much loan you can get and how you can check it.

How much loan can one get according to salary?

Banks usually set a personal loan limit of 20 times your monthly income. That means, the higher your salary, the more are your chances of getting a loan. In such a situation, if your salary is Rs 25,000 per month then you can get a loan up to Rs 5 lakh. Whereas if your salary is Rs 50,000 then you can get a loan up to Rs 10 lakh. Apart from this, if your salary is Rs 75 thousand then you can get a loan up to Rs 15 lakh. In this way, the higher your salary, the more loan you can get. However, every bank has its own loan cap limit in which some banks give loans only up to Rs 25 lakh, while some banks approve loans up to Rs 40 or even Rs 50 lakh.

How much loan is right to take?

According to financial experts, any person should take such a loan whose EMI is not more than half of his salary. For example, if your monthly salary is Rs 25,000 then your EMI should not be more than Rs 12,500. In this way, there is no problem in repaying the loan and expenses are also not affected.

What factors decide the loan amount?

• Income- Your monthly salary and its source are the biggest factors to decide the loan amount. In this, the bank sees whether your job is stable or not and whether your income comes regularly or not.
• Credit Score- Credit score is a three-digit number that tells you your credit card history. In this, if the score is 750 or more, the loan gets approved quickly and the interest rate is also low.
• Current Loan- If you already have a loan, then while giving a new loan, the bank also keeps in mind which and how much loan you already have.
• Loan Cap- Loan cap means that every bank has a maximum limit. Loans beyond that limit are not approved.

Check your CIBIL score like this

• To check your CIBIL score, go to the official website of CIBIL www.cibil.com.
• After this click on Get Your Free CIBIL Score.
• Now fill the information like your name, PAN card number, date of birth and email.
• After this verify with OTP.
• After verification, your credit report and CIBIL score will be sent to your email ID.

Also read: Has anyone taken a loan on your PAN card? You can check like this

Reporting of interest and TDS found in Oint Account is often named after the first account holder, which can also give an income tax notice to the second holder. This happens when the FD or deposit is from the earnings of another member, but reporting is in the name of the wrong person. Therefore, it is very important to check the AIS i.e. Annual Information Statement carefully. If an entry does not match your earnings, then mark it ‘Not Entrely Correct’ through feedback. This provides correct information to the tax department and unnecessary notice can be avoided.