Government scheme · Long-term, tax-free savings
Public Provident Fund (PPF)
PPF is a long-term savings scheme backed by the Government of India. Interest is set every quarter and compounded yearly, and both interest and maturity are tax-free.
Visit official websiteWho can apply
- Resident Indians, for themselves or on behalf of a minor
- One PPF account per person
Key features
- Deposit ₹500 to ₹1.5 lakh in a financial year
- 15-year term, extendable in blocks of 5 years
- Deposits qualify for Section 80C under the old tax regime; interest and maturity are tax-free
- Loans from the 3rd year and partial withdrawals from the 7th year
How to apply
- Open an account at a post office or an authorised bank, in branch or online
Not sure where to save?
Ask Bachatt Saathi how this scheme compares with Insta Fund, mutual funds or Gold & Silver funds for your goal.
Frequently asked questions
Can I close a PPF account early?+
Premature closure is allowed after 5 years only for specific reasons such as serious illness or higher education, with a small interest penalty.
More government savings schemes
See all government savings schemesThis page is for information only. Bachatt is not affiliated with this scheme; the scheme name belongs to the Government of India and its agencies. Limits, rates and eligibility change from time to time — always check the official website before you apply.