Description : The scheme mobilizes small saving in the form of an investment, coupled with a return on it. It can also be called a savings-cum-tax savings investment vehicle that enables one to build a retirement corpus while saving on annual taxes.Eligibility : Individuals who are residents of India can open an account under the scheme.Process : 1. Visit a post office in person or through an authorized agent with required documents. 2. An account can be opened by cash/cheque. 3. The amount can be deposited once or in 12 instalments. 4. Maturity period is 15 years and before that account cannot be closed. But this can be extended within one year of maturity for further 5 years and so on. 5. An individual can open an account with INR 100/- but has to deposit a minimum of INR 500/- in a financial year and maximum INR 1,50,000/- 6.Loan facility available from third financial year. 7. From 7th financial year, the amount can be withdrawn. 8. Interest earned on deposits in the PPF account is not taxable. Deposits made towards PPF accounts can be claimed as tax deductions. This makes the PPF Scheme one of the most tax efficient instruments in India.

*For child of 18 years, account can be opened by his/her either of the parents.If a couple has two children, maximum 4 accounts can be opened under their names, two accounts for themselves and other two for their children.

*Nomination facility is available at the time of opening and also after opening the account. The account can be transferred from one post office to another. *The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts.Benefit : 7.1% yearly interest