Public Provident Fund: Are you preparing for retirement or want to deposit funds for your child’s education? The Post Office’s PPF Scheme (Public Provident Fund) can prove to be a great option for you.
This government scheme not only keeps your money safe but also helps you to collect a large fund in the long run with great interest rates and tax exemption.
Simple and safe investment medium – PPF Scheme
PPF scheme is backed by the Government of India, so it is considered completely safe. Also, it is quite flexible. You can invest in it according to your lifestyle and financial goals. You can invest a minimum of ₹ 500 and a maximum of ₹ 1.5 lakh every year.
Take advantage of high interest rates
Currently, the interest rate on the PPF scheme is 7.1%, which is much higher than other savings schemes. With such an interest rate, your money will continue to grow and after years you will have a huge amount. For example, if you invest ₹ 70,000 every year, after 15 years you will get around ₹ 18,98,498.
![PPF Scheme](https://www.timesbull.com/wp-content/uploads/2024/05/PPF-Scheme-jpg.webp)
The double benefit of tax exemption
Investing in the PPF scheme gives you the benefit of tax exemption under section 80C of the Income Tax Act. You can avail tax exemption on investments up to ₹ 1.5 lakh. Apart from this, there is no tax on the interest and maturity amount received from PPF.
Long-term companion – PPF
While opening a PPF account, you have to invest for a minimum of 15 years. This gives you a chance to invest for a long time and grow your money. After the completion of 15 years, you can also extend it in blocks of 5-5 years.
In short
Overall, the Post Office PPF scheme is a great investment option. Apart from giving you financial security, it also helps you in creating a big fund for the future. So what are you waiting for, invest a part of your savings in the PPF scheme and lay the foundation of a bright futur