Public Provident Fund (PPF) is a scheme of the Central Government, framed under the PPF Act of 1968. Briefly, the PPF is a government backed, long term small savings scheme which was initially started by the Government because it wanted to provide retirement security to self employed individuals and workers in the unorganized sector.
Today the PPF is the Indian citizens’ darling investment avenue. If you are keen on a safe corpus, a decent rate of return, tax benefits (deduction on the money invested, tax free interest and a tax free maturity value) and have a long term investment horizon, then the PPF is for you.
Keep in mind you need to be disciplined with the PPF to make the most of it, and also meet your liquidity needs elsewhere, because with this investment your money is blocked for 15 years. The PPF also offers loans against the account which can help you during occasions like a wedding in the family, further studies of your children, etc. Above all that it gives you a peace of mind as your money is safe.
What is the PPF Interest Rates for senior citizen ? i.e.
What is the Interest Rates for senior citizen for their PPF a/c.?
PPF Interest Rate for all investors is 8.7% and for Senior Citizen 9.2%.
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