PUBLIC PROVIDENT FUND

The Public Provident Fund (PPF) is a government-backed, long-term savings scheme in India that encourages individuals to build a financial corpus for their future. Open to all resident individuals, the PPF account requires a minimum deposit of ₹500 and allows a maximum of ₹1.5 lakh per financial year. It offers an attractive interest rate (currently around 7.1% per annum), compounded annually, with a lock-in period of 15 years—extendable in blocks of five years. Contributions to PPF qualify for tax deductions under Section 80C, and both the interest earned and maturity amount are tax-free, making it a popular, secure, and tax-efficient investment choice for long-term wealth creation