India : All about Public Provident Fund (PPF)
You know lot of planners recommending you to invest in PPF. It is the best and wonderful product of investment. But knowing half is dangerous than knowing nothing. Hence let us understand the features of PPF in full.
Public Provident Fund (PPF) is the scheme floated under the PPF Act 1968 by central government. PPF is the wonderful product for all who looks for safe, government backed and tax beneficial investment. Below are the features of PPF.
- Tenure is 15 years. But in reality it is more than 15 years. For example, suppose you opened the account on 5th March 2013 and 15 years will complete on 5th March 2028. But this is not the maturity date of this account. Instead it will be 1st April 2028 (which will be first working day of immediate FY).
- Current interest rate is 8.80%…
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