Public Provident Fund!

Where to open: Bank or Post Office
Who can open: All Indian citizens. You can only hold one account in your name or open a second account on behalf of a minor.
Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) cannot open PPF accounts. However NRIs who had opened PPF accounts when they were resident Indians can continue to operate the account till maturity.
Current interest rate: 7.1% (Oct-Dec)
Maturity period: 15 years
Deposit Rules: At least one deposit every year of the 15 years lock-in period. Minimum: Rs 500. Maximum: 1.5L
Premature withdrawal: Premature withdrawals are allowed after the completion of 5 years.
You cannot withdraw the entire amount from your PPF account. The amount is capped at the lower of the two - 50% of the balance at the end of the fourth financial year or 50% of the balance at the end of the preceding year.
Tax benefits: PPF falls under EEE category. (If you follow the old tax regime and avail 80C deductions.)
Maximum benefit for deduction in taxable income is upto Rs 1.5L.
Interest income is exempt.
Full amount received on maturity is exempt.
Collateral against loan: The loan amount is limited to 25% of the balance at the end of the second financial year prior to the year in which you applied for the loan.
#business #finance #ppf #palakrathii

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Nice video bahut acchi information lagi. Thank u