West Asia Crisis1 hr ago
What is Public Provident Fund (PPF), the savings tool that has empowered millions in India
Public Provident Fund (PPF) was launched to encourage the thrifty Indian public to create a retirement corpus. Notably, PPF deposits are liable for tax deductions and interest earned is not taxable.
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1/7A PPF account can be opened at any nationalised, authorised, private bank and authorised branches/post offices
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2/7Deposits must be made every year for a period of 15 years
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3/7One can open a PPF account with just Rs 100, and can make annual deposits between Rs 500 and Rs 1.5 lakh per year
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4/7A PPF investor can make partial premature withdrawals every year from year 7
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5/7Complete withdrawal of funds can be made only at maturity
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6/7.Interest rates on PPF is 7.6%
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7/7Unlike bank FDs, PPF rates are not fixed for the entire tenure of the holding
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