Unlocking the Power of PPF: Your Guide to PPF Account Interest Rates and Eligibility Criteria

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Understanding the PPF Account The Public Provident Fund (PPF) account is a popular long-term investment scheme in India. It's known for its safety and attractive interest rates.

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Eligibility for PPF To open a PPF account, you must be an Indian citizen and can open an account in your name or on behalf of a minor.

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PPF Account Tenure The PPF account has a maturity period of 15 years, which can be extended in blocks of 5 years after maturity.

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PPF Interest Rates The PPF interest rates are determined by the government and are subject to change. Currently, they offer competitive returns.

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Minimum and Maximum Investment You can invest a minimum of Rs. 500 and a maximum of Rs. 1.5 lakh in a PPF account annually.

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Tax Benefits Investments in PPF are eligible for tax benefits under Section 80C of the Income Tax Act, making it a popular choice for tax planning.

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Withdrawal and Loans Partial withdrawals and loans can be availed from the PPF account after certain conditions are met, making it a flexible savings option.

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Investing in a PPF account can be a smart choice for long-term financial security. Keep an eye on the changing interest rates and make the most of this investment scheme.

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