ELSS not only serves as an effective tax-saving tool but also offers the potential for higher returns compared to traditional tax-saving instruments
The first step would be to zero down the vehicle that you would choose for saving taxes
Public provident fund (PPF) is one of the safest and, therefore, one of the most-preferred investment options for the common people. But one is not pe
After 15 years, the account holder has to inform the post office or bank within one year whether he/she plans to continue with deposits.
PPF Account: If the PPF account is inactive, then one cannot close it before the completion of the maturity period.
Public Provident Fund withdrawal rules: Complete withdrawal of PPF balance is allowed only at the time of maturity
The current interest rate on the PPF is 7.1%, making it one of the government-backed high-yielding modest savings schemes
Both SSY and PPF are debt instruments. They offer relatively low but safe and secure returns.
PPF: If this current interest rate exists, it will take just 17 years to make a cumulative corpus of Rs 1 crore
Small savings schemes news updates: Interest rates were slashed between 240-300 basis points over 9 years on different schemes