About PPF (Public Provident Fund)
PPF is a government-backed long-term savings scheme with a 15-year lock-in period. It is one of the safest investment options in India as it is backed by the Government of India. The interest rate is set by the government every quarter based on government bond yields.
You can invest a minimum of Rs 500 and a maximum of Rs 1,50,000 per financial year. PPF accounts can be opened at post offices, SBI, and other nationalized banks. You can also open a PPF account online through net banking with select banks.
The biggest advantage of PPF is its EEE tax status: your deposits (up to Rs 1.5 lakh) are deductible under Section 80C, the interest earned is tax-free, and the maturity amount is also tax-free. No other fixed-income investment offers this triple tax benefit.