March 31st Deadline Alert: Complete PPF, Sukanya Samriddhi KYC, and More Financial Tasks to Avoid Losses

By Lokmat English Desk | Published: March 26, 2024 11:56 AM2024-03-26T11:56:45+5:302024-03-26T12:52:24+5:30


The end of fiscal Year 2024 is less than a week away. The deadline for many economic activities will end on March 31. If you don't do these important things these remaining days, you can be at a disadvantage. For example, if you do not pay a minimum amount in savings schemes like PPF or Sukanya Samriddhi Yojana, your account will fall in the default category. Let's find out which schemes' deadlines expire on March 31.

Home Loan Discounts: Under the special scheme run by the State Bank of India (SBI) for home loans, you can get a discount before March 31, 2024. This exemption includes home loans, flex-pay and other home loans for NRIs. SBI is offering home loans at discounted rates to those who have a good CIBIL score.

SBI Amrit Kalash: The last date to invest in SBI Amrit Kalash Scheme is March 31, 2024. According to SBI's website, the 400-day special plan offers an interest rate of 7.10% with effect from April 12, 2023. The interest rate for senior citizens is 7.60%.

Minimum Investment Deadline : In government contribution savings schemes like PPF or Sukanya Samriddhi Yojana, a minimum amount of Rs 500 and Rs 250, respectively, has to be kept in a year. If this minimum amount is not deposited in any financial year, your account will fall in the default category. You won't get much benefit from tax breaks. The task must be completed before March 31, 2024.

FASTtag : If FASTag KYC is yet to be completed, the National Highways Authority of India (NHAI) has extended its deadline till March 31. FASTag can be blacklisted if KYC is not done by March 31. To complete the KYC of FASTag issued by NHAI, you can visit www.fastag. If the FASTag has been issued by the bank, then you can complete KYC by visiting the bank's website. Many banks are also providing video KYC services.

IDBI Special FD: IDBI Bank is offering festive callable FDs for special periods of 300 days, 375 days and 444 days at an interest rate of 7.05%, 7.10% and 7.25%, respectively. If you want to invest in this scheme, complete the procedure before March 31.

Updating Nominees: This is part of Know Your Customer (KYC). If you have not updated your bank accounts, shares, PPF account and nominees elsewhere, do so before March 31. Apart from this, SEBI has extended the date of nominee update in the Demat account. The work can now be completed by June 30, 2024.

Subsidy on EV: Subsidy on electric vehicles under FAME-II will not be available after March 31, 2024. The government has not yet decided to extend it. In such a situation, if you want to buy an EV vehicle, buy it before March 31. Currently, the trend of EVs is increasing in the country.