PPF or the Public Provident Fund is a no-fuss investment opportunity provided by the Government of India (GoI) under the Public Provident Fund (PPF) Scheme, 1968. Requiring as low as INR 100 to open the account, it not only helps you save taxes under section 80 (C) of the Income Tax Act, 1961 but also provides healthy returns.
For the fiscal year 2016-17, 8.1% is being offered. That means, your money parked would double in less than 9 years. Remember the number 72? Click here to review.
But given the high rate of interest and tax-free interest earned, one can only invest INR 1.5 lacs every fiscal year. With a deposit period of 15 years, it is one of the best retirement plans for investors of any age. More so, for the youth!
In fact, investors should first aim at fulfilling the PPF quota of INR 1.5 lacs before investing in riskier options like Mutual Funds and the stock market.
Hurry and open the account today!