Details Of Public Provident Fund(PPF)

1. What is a PPF account and its benefits?

Public Provident Fund (PPF) scheme is a popular long-term investment option backed by the Government of India which offers safety with attractive interest rates and returns that are fully exempted from Tax. Investors can get facilities such as loans, withdrawal, and extension of accounts.

2. How much I will get in PPF after 15 years?

For example, if you make annual payments of Rs. 1,00,000 towards your PPF investment for 15 years at 8.0%, your maturity proceeds at the end of 15 years(min. locking period) would be Rs. 31,17,276 . One is allowed to withdraw up to 50% of the PPF account balance after completion of five years from the end of the subscription year.

Withdrawals are tax-free.

3. Who can open a PPF account?

A person of any age can open a PPF account; even those with an EPF account can open one. It can be open in POST OFFICE or ANY BANKS.  It can also be opened online with few banks i.e.HDFC BANK, SBI BANK, CANARA BANK, etc.

only one PPF account is allowed to be opened in one's name, not allowed to hold more than one PPF account in one's own name.

Use This as e.g. for calculating your income.