PPF Scheme: The government has introduced the Public Provident Fund (PPF) scheme for the general public. This scheme allows individuals to invest their money for a long period of time.
By participating in the PPF scheme, people can earn a decent amount of interest on their investments. Currently, a large number of individuals in the country are taking advantage of this scheme and investing in it. However, it is crucial to remember one important aspect when considering investing in the PPF scheme. Let’s find out more about it…
Investing in the PPF Scheme
When considering investing in the PPF scheme, it’s important to understand that it provides fixed interest rates. The PPF scheme is backed by the government, and the interest rates are reviewed by the government every three months. If necessary, the interest rates can be adjusted accordingly.
Currently, for the April-June 2023 period, the PPF scheme offers an annual interest rate of 7.1 percent. It’s important to note that the PPF scheme is designed for long-term investments and has a duration of 15 years. The returns from the scheme are received after the completion of these 15 years.
The maturity period of the PPF scheme is 15 years, making it a suitable choice for long-term investments. Additionally, a maximum investment of Rs 1.5 lakh can be made in this scheme per financial year. Moreover, investing in the PPF scheme also provides the advantage of tax savings.