Public Provident Fund (PPF), Overview of the Public Provident Fund

Public Provident Fund(PPF)
The Public Provident Fund (PPF) is a long-term savings and investment scheme introduced by the Indian government. It is one of the most popular and tax-efficient savings options available to Indian residents.

Overview of the Public Provident Fund:
1. Purpose:
PPF is designed to encourage small savings and long-term wealth accumulation among Indian citizens.

2. Eligibility:
Any Indian resident, including minors, can open a PPF account. Individuals classified as Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) do not meet the eligibility criteria for initiating PPF account openings.

3. Duration:
PPF has a maturity period of 15 years. However, account holders possess the flexibility to extend it in blocks of 5 years indefinitely.