The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument considered to be one of the best investment options for a taxpayer. The scheme, which aims to mobilize small savings by offering reasonable returns combined with income tax benefits, is fully guaranteed by the Central government. The Interest rates on PPF has been hiked by up to 40 bps (0.40%) therefore, it will earn 8 percent from today. A person can begin investment in this scheme with a minimum amount of Rs 500 and the maximum limit is Rs 1.5 lakh.
 
The PPF also provides facility of depositing a suitable amount on monthly basis, and a subscriber earns interest divided month-wise on the yearly rate of interest. This is credited to the account by end of the year only. You should know that if you delay in depositing the monthly instalment you may bear loss on your interest. Therefore, you should deposit your amount before 5th day on every month, if you wish to earn interest benefit. Because this is added to already added interest on the amount. 
 
If you deposit amount once in a year then also you should deposit it prior to April 5th because financial year in the country is counted from April to March. Therefore, to earn complete benefit of the year, subscribers should deposit the amount before April 5.  
 
The scheme's actual duration is 15 years, thereafter, subscriber can extend it for 1 or more blocks of 5 years each through an application. Subscriber has three options when the maturity period is over.
 
1. Subscribers can make complete withdrawal after the maturity period.
 
2. One can extend the PPF account with no contribution after the completion of 15 years. Subscribers need not put any amount after the maturity period. This is the default option which means if a subscriber doesn't take any action within one year after maturity period this option will automatically come into force. 

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3. Subscribers can extend the PPF account with contribution by putting money in his account after extension. If they choose this option, they have to submit Form H in the bank where he is having a PPF account within one year from the date of maturity. After choosing this option, subscriber can withdraw maximum 60% of his PPF amount.