Wednesday, November 29, 2023

PPF vs Bank FD which scheme is good for investing, know everything here

Everyone now looks for an investment choice where money is guaranteed in addition to earning a good rate of return. Today we will discuss where to invest in PPF or bank FDs if you are also considering putting money in any plan. Both are government programs, but you should first determine which will benefit you most.


For 15 years,

you may invest in the Public Provident Fund Scheme. The person can extend the program three times in blocks of five years after the initial 15-year term.


You can put as little as Rs. 500 or

as much as Rs. 1.5 lakh into it. The sum put in this scheme currently earns 7.1 percent interest.


According to Section 80C

of the Income Tax Act of 1961, both your income and the maturity amount in this transaction are tax-free.


In addition, you have the option

to invest in FDs for a duration of 7 days to 10 years. The State Bank of India offers interest rates to the general public that range from 3 percent to 7.10 percent and to senior people that range from 3.50 percent to 7.60 percent.


If we compare interest rates,

the PPF program now offers greater returns than the FD. PPF may be the best option if you prioritize long-term retirement planning coupled with tax advantages.

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