About Public Provident Fund (India)

About Public Provident Fund (India)

 Public Provident Fund (PPF) is a long term investment which is offered by the Government of India for Retirement planning. Its offer safety and also attracted interest rate and returns that fully exempt from Tax. People can invest a minimum of Rs 500 to a maximum of Rs. 1, 00,000 in one financial year and people will get facilities like Loan, Withdrawal and also Extension of Account.

Eligibility for opening PPF account

PPF account can be opened by People who resident in India and individuals on behalf of minors.
NRI people cannot open a PPF account

PPF Product Features

Attractive interest rate of 8.7% that is fully exempted from Income Tax under section 80 C
Secure long term investments of 15 years
Deposit Amount as low as Rs.500 and maximum Rs.1, 00,000 in one financial year
Deposits can be done maximum in 12 transactions
Loan can be availed between 3rd to 6th financial year
Partial withdrawal facility can be availed from 7th financial year onwards
The account can be extended in a block period of 5 years after maturity

Visit for more details http://en.wikipedia.org/wiki/Public_Provident_Fund_(India)