Question: Is PPF Better Than FD?

Which is better PPF or PF?

The EPFO declares the EPF rate every year based on the returns of the EPF corpus.

The current EPF rate is 8.50% while the current PPF rate is 7.1%.

Historically as well, the EPF rate has been slightly higher (8.65%) than the current rate FY 2020-21 and the current PPF rate..

Can I open 2 PPF accounts?

As per PPF rules, one individual can not open more than one PPF account in his/her name. If you open a second PPF account in your name then the second account is treated as invalid as it is not allowed as per the rules. Also, you can not close the second PPF account because of its 15-year lock-in feature.

What is the age limit for PPF?

Ankur Choudhary, Co-founder& CIO, Goalwise.com replies: There is no upper age limit for opening a PPF account. The lock-in, however, remains at 15 years irrespective of the age at which you open the account. On maturity, the account can be extended by blocks of 5 years any number of times.

How much I will get in PPF after 15 years?

1,00,000 towards your PPF investment for 15 years at 7.1%, your maturity proceeds at the end of 15 years would be Rs. 31,17,276 .

Can I open another PPF account after 15 years?

PPF accounts have a maturity period of 15 years and they can be extended. If there is no fund requirement, financial planners say, PPF account holders should extend the account beyond 15 years. … The interest earned and maturity proceeds are also tax free.

What is current PPF interest rate?

7.9%As of now the current PPF interest rate for July- September 2019 is 7.9% which is compounded annually. Before this, the interest rate was 8% for April-June 2019. The PPF interest rate is set every year by the ministry of finance and is paid each year on 31st March.

Can husband and wife open separate PPF account?

First of all, both husband and wife may open PPF accounts in their name only if both of them have their own sources of income. … He or she may open accounts for his/her minor children, but total investments in PPF against a single PAN cannot exceed the statutory limit, which is now Rs 1,50,000 in a financial year.

Which is better RD or FD or PPF?

However, a loan against FD is available at any point in time. Tax benefits: Tax benefits are available on both PPF and FD under Section 80C….✅Which is a good investment FD or PPF?ParameterFixed Deposit (FD)Public Provident Fund (PPF)Interest rateUp to 7.257.1%Tenure7 days to 10 years15 years3 more rows

Is PPF still a good investment option?

Tax-free interest income: PPF offer exempt-exempt-exempt (EEE) tax benefit which means that interest earned on the Public Provident Fund is tax-free. … In fact, your post-tax yields will fall dramatically in other instruments, which makes the PPF a good investment choice compared to other options in the same category.

Which PPF is best?

SBI PPF Account. SBI PPF is a government-regulated PPF account scheme, which is distributed through SBI branches. … ICICI PPF Account. … HDFC Bank PPF Account. … India Post Office PPF Account.

Can I invest more than 1.5 lakh in PPF?

Flexible Investment You can invest up to a maximum of 1.5 lakh per annum towards your PPF account. The best part is that you can deposit the money in 12 instalments. The minimum amount that you can invest in their PPF account is as low as Rs. 500.