Do you have an account at the post office? But you have to say good news. There are many types of savings schemes in the post office. These will bring good profits. The Public Provident Fund PPF PPF is also one of the post office schemes. It is also one of the retirement schemes. Over will get many benefits along with tax deduction. If you look at it in its entirety.
You can go to a post office or a bank and open a PPF account. There is no risk in putting money in PPF. The Public Provident Fund currently has an interest rate of 7.1%. Over Tax Benefits. Note that the Central Government reviews the interest rates on this PPF scheme every three months.
Interest rates will increase every quarter. Otherwise it will be reduced. No means maybe not. If money is deposited in the PPF scheme, one can avail of a deduction of up to Rs 1.5 lakh per annum under Section 80C of the Income Tax Act.
You have to save Rs.300 per day and invest Rs.9 thousand in PPF account at the end of the month. If you invest like this for 30 years you will become a millionaire. The maturity period of PPF scheme is 15 years. However, the maturity period can be extended by five years if required. This is how you get the benefits.
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