The central government is implementing various welfare schemes for the benefit of the public. One of the important ones is Public Provident Fund Scheme. By investing money in it you can get many benefits. Due to the fact that the scheme is implemented by the government, there is no risk to the money saved, not only guaranteed income. And those who invest money in Public Provident Fund Scheme will now get huge benefits from the Govt. That means the government has made a big announcement about this project.
General Provident Fund Scheme earns 7.1 percent interest profit. The benefit of compound interest is even better. And the interest rates are fixed by the Finance Ministry at the end of March every year. That way, this time on March 31st, the money will be credited to your account from the government. Interest is calculated on the 5th of every month. You can start investing with just Rs 500 and you can invest a maximum of Rs 1.5 lakh in a financial year.
Apart from this, you also get the facility of post loan and partial repayment in PPF scheme for a certain period of time. You can get the benefit of PPF Income Tax Exemption. Both the interest earned and the money received on maturity are completely tax-exempt. And you have to invest in ppf scheme for 15 years. But it can be withdrawn only after six years PPF account also has a partial withdrawal facility which can be withdrawn from the seventh year onwards.