Public provident fund or PPF account is a Authorities of India or GoI-backed small saving scheme, which is hundred per cent risk-free. This funding software has been designed in such a approach that it helps an investor meet its long-term funding targets like larger research of kid or monetary necessities post-retirement. A PPF account falls below ‘EEE’ class because it permits an investor to assert revenue tax exemption on most deposit restrict of ₹1.50 lakh in single monetary 12 months and PPF curiosity earned on one’s deposit is totally exempted from any revenue tax outgo. Presently, PPF rate of interest introduced by the GoI for April to June 2023 quarter is 7.10 per cent.
Public provident fund: Do you have to lengthen your PPF account after maturity?