PPF is a long-term, government-backed small savings scheme of the Central government started with the objective of providing old age income security to the workers in the unorganised sector and self-employed individuals.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
A comprehensive look at one of the most-preferred tax-saving investment option for the salaried class
A provident fund is created with a purpose of providing financial security and stability to elderly people
PPF is a good instrument for investors as it allows flexibility and tax benefits.
There is no clearly defined right or wrong answer since both target different needs of a portfolio.
Her immovable assets are worth over Rs 7.74 crore, which includes two inherited half shares of agricultural land in Mehrauli area of New Delhi and a half share in a farmhouse building located therein, all of which together are now worth over Rs 2.10 crore.
Investors must remember that only resident Indians can open a PPF account and a person can have only one PPF account.
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
The Public Provident Fund is one of the safest and convenient modes of investment.
Currently investment of up to Rs 1.50 lakh in PPF is exempt from the Income Tax Act under 80C.
Building your Retirement Nidhi is your Karmayoga, ensuring a Golden Yug where you can truly enjoy the fruits of your labour, says Vatsal Ramaiya as he explains how Rs 15,000 per month can help build a Rs 7 crore corpus.
We asked you, dear readers to share your best tips on saving money. This is what S Kumar shared.
Millions of small savers and PPF account holders will earn less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10 per cent.
Public Provident Fund should be phased out over a period of time after the introduction of the new pension scheme proposed by the government, the interim Pension Fund Regulatory and Development Authority chairman D Swarup said on Saturday.
PPF is a typical savings tool but one has to invest for the long term. This means there is an asset-class mismatch.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Frankly, there is no reason not to open a PPF account and start investing in PPF
The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Don't solely focus on tax-saving alone.
The bank has received authorisation to collect funds for PPF at branches mandated by the ministry of finance, ICICI Bank said in a release in Mumbai on Friday.
If you look at the interest rate offered, tenure of investment and tax implications voluntary provident fund scores over public provident fund.
Investors must explore alternate avenues like mutual funds and pension plans for building a retirement corpus.
Banks have been reluctant to transmit the entire policy rate cut by RBI to borrowers.
It is advisable to file your ITR right away and not rely on potential extensions.
While it is suggested that withdrawals and loans against long-term instruments are not the wisest steps, if you really need to do so, here are a few options. . .
The purpose of the provident funds is to help people in their retirement periods. Hence the EPF and PPF are for long term savings.
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