If you are looking for a safe and profitable investment for the long term, then Public Provident Fund (PPF) is a great option. This scheme is special for those who want guaranteed returns on their investment and want to get fixed interest for a long time. You can invest a minimum of ₹ 500 to a maximum of ₹ 1.5 lakh annually in a PPF account. This scheme matures in 15 years and currently gives interest at the rate of 7.1%. So, if you also want your money to be safe and get good interest on it, then PPF can prove to be a great option for you.

Triple bang of tax exemption

The biggest advantage of PPF is that it gives tax exemption at three levels.

Investment: You can avail tax exemption under section 80C on the investment made in PPF. That is, the amount of money you deposit in PPF, you will get income tax exemption on that amount.

Interest/Return: There is no tax on the interest received in this scheme! Your interest is completely tax-free, which increases your income even more!

Maturity: The amount received on maturity is also completely tax-free. When you get your money back after 15 years, there will be no tax on it either.

Due to these great benefits, PPF remains a popular investment option, especially for those who want safe investment with tax savings in the long term.

Interest will be available even after maturity

The most special thing about the PPF scheme is that even after the maturity period of 15 years, if you do not withdraw money from your account, your money will be completely safe. You will continue to get interest on it. This interest will continue to be received as per the current PPF interest rate. Also, tax exemption will apply to this, too. You can withdraw money from the account whenever you want.

If you want, you can withdraw the entire amount at once or withdraw a partial amount and let the rest remain deposited. You will continue to earn interest on the deposited amount. This feature makes PPF even more attractive.

Account extension and contribution

If you want to make the most of the interest you get from your PPF account, you can extend it in blocks of 5 years each. This extension can be done an unlimited times. For extension, you need to apply to the bank or post office where you have your PPF account and continue your contribution. This allows you to enjoy the benefits of PPF for a long time.

Continue investing even after maturity

If you want to extend the PPF account even after maturity and continue investing, you need to apply to the bank or post office within 1 year from the date of maturity. For this, you need to fill a form, which needs to be submitted to the same bank or post office branch where you have your PPF account. This process is easy and helps you to keep your investment safe for a long time and earn interest on it.

Get started for a secure future

The government has not only made the PPF scheme secure, but by investing in it for a long period, you can build a large corpus. Tax exemption at all three levels, assured interest rate, and the facility of getting interest even after maturity make it a popular and reliable investment option. So, if you too want to secure your future and make a wise investment, then investing in PPF can prove to be a great move.