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Invest in a long term savings instrument offering tax exemption on both, principal as well as interest

Public Provident Fund(PPF)

Looking for a long term investment plan? Opt for the Public Provident fund (PPF) that not only offers tax exemption on principal but also on interest. Some of the advantages of PPF investments are that you can enjoy high interest rates with minimum risks. Moreover, you can also enjoy loan facilities and partial withdrawals. You can also check your balance, transfer funds and view mini statements online, anywhere and anytime!

More about PPF

PPF or Public Provident Fund is a long-term fixed income savings scheme offered by the Government of India. It offers tax benefits as well as fixed and guaranteed returns. It is one of the tax-saving instruments under Section 80C of the Income Tax Act. The PPF tenure is 15 years and the account cannot be closed prematurely. However, the subscriber or depositor is allowed to withdraw part of the money after five years. You can withdraw 50% of your balance as at the end of the preceding financial year.
Any resident Indian can open a PPF account. NRIs are not allowed to open PPF accounts. However, if a resident Indian becomes an NRI after opening the PPF account, it can be continued till maturity.

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