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What is PPF account?

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0 2022-04-11T09:34:13+00:00
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I will tell you the truth. I first came to know about PPF account just when I entered the tax slab. I was looking for ways to get tax exemptions when PPF caught my eye. I had no clue what is PPF account and anything around or about it. So I did my bit of research and got to know about it and its benefits. I am going to share the same with you. Thank me later :P

PPF meaning

PPF stands for Public Provident Fund scheme. PPF is basically a long-term savings and investments scheme which is low-risk and gives good returns. PPF is a corpus which is highly beneficial when one retires. When I went through the terms, I found out that there is a maturity period of 15 years, you can get an extension on it if you want. 

What is PPF account and its benefits?

Now that you know PPF meaning let me tell you what is PPF account and its benefits in detail here. 

A PPF account is where you deposit money under PPF scheme. There are several benefits of PPF schemes including:

  • Investing as low as Rs. 500 per month in a year

  • A tenure of 15 years so that you build wealth for your retirement

  • Loan facilities available on PPF account between 3rd and 5th year.

  • You can withdraw partial amount after the 7th year in case of emergency

  • Tax benefits under Section 80C of Income Tax Act

  • Risk-free investment irrespective of market volatility

I hope now you are intrigued too and planning to open a PPF account yourself. This should help you know clearly what is PPF account and its benefits in a nutshell.

Looking for properties to invest in? Find best options on NoBroker Read more:  How to open PPF Account How to apply for PF Pension Amount How to withdraw PF online with UAN

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Roohani

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