If you are looking for a place where you can put surplus money and gain handsome returns without much risk, a popular investment scheme in India is something you would definitely not want to miss. India’s Best Free On-call Public Provident Fund (PPF) Investment Financial Advisory says that Public Provident Funds are great options for someone looking to invest and earn handsome returns, save tax and not have much risk.
One single individual is not entitled to have more than one functional Public Provident Fund account. You can also take loans against your PPF account. Upon completion of maturity period (15 years) you can extend it for every 5 years. India’s First Free Online Financial Advisory Moneymindz
What is Public Provident Fund?
Public Provident Fund is a savings instrument also used for saving tax. The objective of PPF is to mobilize smaller savings into investments with reasonable returns and Income Tax Benefits. India’s Best Free Online Public Provident Fund (PPF) Investment Financial Advisory Portal Moneymindz says that Non Resident Indians aren’t allowed to invest in PPF. However, you can continue your existing PPF even after you become an NRI for the remaining term. The maturity period is 15 years and the minimum annual deposit is Rs 500 while the maximum is 1.5 Lakh.
A PPF account can be opened by an individual either in his/her name or a minor (if he/she is the natural or legal heir of the minor). But Joint Families and Companies cannot invest in PPF either. India’s First Free On call Financial Advisory Moneymindz
Features of Public Provident Fund
- Tenure of the scheme
The tenure of the scheme is 15 years. However, after maturity the tenure can be extended in blocks of 5 years.
- Non Residents, Joint Families, a Group of individuals cannot open PPF
If you are an NRI, member of a joint family or a group, you cannot invest money as a group or joint family. But if you were a resident of India when you opened PPF and have a running account when you are an NRI, the account can continue till maturity.
- Minimum and maximum amount per year
Minimum amount to be invested per year is Rs 500 while the maximum amount to be invested per year is Rs 1.5 Lakh.
Merits of Public Provident Fund
A PPF account can be transferred from one Post Office to another and one Bank/Post Office to another Bank/Post Office.
- Safe Investment Avenue
PPF offers a safe investment avenue with minimal risk and decent returns. You can also save taxes on your PPF account.
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