PPF Update: Here’s how to open PPF account; check eligibility, interest and more

Despite the fact that PPF has a 15-year initial term, the investor can extend the term of his or her account for as long as he or she needs. 

New Delhi: PPF, or Public Provident Fund, is one of India's most popular long-term investing options. It is an Indian government-sponsored retirement savings plan designed to help people build long-term wealth once they retire. PPF, which was first introduced in 1968 by the Ministry of Finance's National Savings Institute, has grown into a strong tool for Indians seeking tax benefits. Because of its safety, profits, and tax advantages, the program has become one of the most popular investment options.

This government-backed scheme is a type of small savings policy that guarantees guaranteed returns at maturity, which is why it is so popular among investors.

Individuals can contribute as little as Rs 500 per year and as much as Rs 1,50,000 per year in their PPF accounts, making it a very flexible investment vehicle. One of the reasons why Indians are so eager to participate in this fund is because of this. Also Read: Petrol, Diesel Prices Today, October 24: Fuel prices hiked for fifth consecutive day, check rates in your city