PPF

Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax .Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account.

Deposits can be made in lump-sum or in 12 installments.
Joint account cannot be opened.
Account can be opened by cash/ Cheque and In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account.
Nomination facility is available at the time of opening and also after opening of account. Account can be transferred from one post office to another.
The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts.
Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on.
Maturity value can be retained without extension and without further deposits also.
Premature closure is not allowed before 15 years except in the case of the death of the account holder.
Deposits qualify for deduction from income under Sec. 80C of IT Act.
Interest is completely tax-free.
Withdrawal is permissible every year from 7th financial year from the year of opening account.
Loan facility available from 3rd financial year. No attachment under court decree order.
The PPF account can be opened in a Post Office ,Nationalised banks ,private sector banks.

From 1.04.2017, interest rates are as follows:- 7.9% per annum (compounded yearly).

PPF Account details
Type of Account	Minimum Amount for Opening	Minimum Deposit	Maximum Deposit
Public Provident Fund(Individual account on his behalf or on behalf of minor of whom he is the guardian)	INR 100/-	INR. 500/- in a financial year	INR. 1,50,000/- in a financial year

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PPF

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