PPF: 10 THINGS YOU SHOULD KNOW ABOUT PUBLIC PROVIDENT FUND
The importance of financial planning in our lives can’t be neglected. It helps to create a budgeted plan and achieve our short and long term goals. Our present financial plans help us to improve our standard of living and also make us future secure. And moreover, if you are a homemaker, it becomes your moral responsibility to analyze the needs and requirements of your family and balance all the financial needs. Well, one safe solution to your financial planning journey is PPF( public provident fund).
Now without going here and there, I have covered some of the most enquired questions regarding PPF.
What is PPF and how it works?
Public provident fund is a popular investment scheme mandated by the government, with low-risk appetite and comparatively high returns. It is a long term investment scheme where your money is locked for certain fixed years. Since PPF is not market-linked, therefore it is safe to invest your hard-earned money in PPF, it provides guaranteed returns after the completion of your locked-in duration.
2. Can anyone open PPF?
Any Indian citizen living in the country is allowed to open the PPF account in self-name.
3. What is the PPF amount?
One needs to invest a minimum of ₹500 and a maximum of ₹1.5 lakhs in a year in the PPF account. It can be paid in installments ( maximum 12 installments allowed annually) or it can be paid in lump sum too.