PUBLIC PROVIDENT FUND (PPF)- A LONG TERM SAVING INSTRUMENT
Public Provident Fund is a popular scheme for individuals who want to earn high and get stable returns. PPF Account is a long term saving instrument which is provided by Central Government.The greatest thing about PPF is Exempt-Exempt-Exempt status.
PPF investment gives assured returns and provides old age people an income security.By investing in P.P.F Account you can see the power of compounding for a longer term/period.
Benefits of PPF:
Minimum of Rs.500 p.a and Maximum of Rs. 1,50,000 (There is no limit on number of deposits in the account)
A period of 15 years, after the completion of 15 years the account can be extended to 5 years.
Opening an Account Procedure:
Extension of PPF Account:
The account holder may continue to extend the period even after 15 years. The extension can be taken in blocks of 5 years and can be continued with or without deposit. The extension can be done within 1 year of maturity date of account opening.
Loan against PPF:
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