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PPF (Public Provident Fund)
The Public Provident Fund is a long-term savings account offered through banks and post offices. It has a 15-year lock-in, pays an interest rate set by the government each quarter, and its contributions, interest and withdrawals are tax-free under the old tax regime.
Why It Matters
PPF is one of the safest ways for Indians to build long-term savings.
In India
Anyone can contribute between ₹500 and ₹1.5 lakh a year to a PPF account, including parents on behalf of a minor child.