Public Provident Fund (PPF)
Track yearly PPF deposits, interest and maturity.
What it is
The Public Provident Fund is a long-term savings scheme backed by the Government of India, opened at a bank or post office. It runs for 15 years, and the interest rate is set by the government every quarter.
Who it may be useful for
- People saving for goals 15 or more years away.
- Savers who want part of their money outside market-linked products.
- Taxpayers under the old regime using the Section 80C deduction.
Whether it suits you depends on your own goals and circumstances.
Benefits
- Government-backed, with interest that is currently exempt from income tax.
- Deposit anywhere from ₹500 to ₹1.5 lakh in a financial year.
- The account can be extended in blocks of five years after maturity.
Things to consider
- The 15-year tenure is long. Partial withdrawals are allowed only from the seventh financial year.
- The interest rate is reviewed quarterly and can go down as well as up.
- Deposits above ₹1.5 lakh in a year earn no interest and no deduction.
How Sahi Savings helps
- Record each year’s deposits so you know how much room is left.
- See your PPF balance alongside EPF and NPS.
- Know your maturity year and extension options.
Steps
- Add your PPF account in the app.
- Log deposits as you make them.
- Check your yearly total against the ₹1.5 lakh limit.
Questions
Can I open a PPF account through Sahi Savings?
PPF accounts are opened with a bank or post office. Sahi Savings helps you track the account you hold.
When should I deposit to earn the most interest?
Interest is calculated on the lowest balance between the 5th and the last day of each month, so deposits made by the 5th earn interest for that month.
Does PPF help under the new tax regime?
The Section 80C deduction is not available under the new regime. PPF interest remains exempt. Confirm the current rules before deciding.
Track your PPF account in the app
Download the app, enter your basic details and set a passcode. Then add your tax regime and investments to see everything together.
