PPF account benefits: Income Tax rebate, higher interest rates and more - What smart investors, tax savers should know
PPF benefits: PPF stands for Public Provident Fund and is one of the few investment plans that offer a EEE (Exempt, Exempt, Exempt) status. It is one of the most trusted long-term investment options. Today, if you are keen on a safe investment, a decent rate of return, tax benefits (deduction and tax-free interest) and have a long term investment horizon, then the PPF is meant for you. It is a disciplined investment avenue as your money is blocked for 15 years. Pankaj Mathpal, MD, Optima Money Manager, told Zee Business online, "If the investors are eyeing secured long term returns, PPF can be a good option as compared to various other schemes in the 'market." A PPF account can be opened with a number of banks in the market, however not every bank and branch provides the facility of PPF accounts. One can easily get a list on the bank's website or details at the respective branch. However, Financial planner, Poonam Rungta believes that cashless India and lesser returns in government saving schemes have opened various other options like equity, mutual funds, bonds etc for middle-class investors.