Everything about Public Provident Fund — current interest rate, contribution rules, tax benefits, EEE status, and strategies to maximize your PPF corpus.
Public Provident Fund (PPF) offers the holy trinity of tax benefits: EEE — Exempt, Exempt, Exempt. Your contributions are tax-deductible (80C), interest earned is tax-free, and maturity proceeds are tax-free. In a high-tax bracket, this makes PPF one of the highest effective-yield instruments in India.
The current PPF rate is 7.1% per annum, compounded annually. The government reviews this rate quarterly (January, April, July, October). Historically, rates have ranged from 7.1% to 12% — the current 7.1% has been stable since April 2020.
| Parameter | Rule |
|---|---|
| Minimum deposit | ₹500 per year |
| Maximum deposit | ₹1,50,000 per year |
| Lock-in period | 15 years (extendable in 5-year blocks) |
| Partial withdrawal | From year 7 onwards (up to 50% of balance) |
| Loan facility | From year 3 to year 6 |
| Account holders | One per person (resident Indians only) |
| Minor accounts | Parents can open on behalf of minor — counts towards their ₹1.5L limit |
PPF interest is calculated on the lowest balance between the 1st and 5th of each month. This means if you deposit before the 5th, you earn interest on that deposit for the entire month. If you deposit after the 5th, you lose one month of interest.
Pro tip: Always deposit on April 1 (or before April 5) to maximize interest for the full financial year. A single annual deposit on April 1 earns significantly more than monthly deposits.
For a taxpayer in the 30% slab:
A bank FD at 7% for the same 30% taxpayer yields only ~4.9% post-tax. PPF effectively doubles the post-tax yield.
Investing ₹1,50,000 per year at 7.1%:
Extend by 5 more years (year 16–20):
Two options at maturity:
Option 2 (extend without contribution) is excellent for retirees — it's essentially a tax-free annuity with 7.1% returns and full liquidity (one withdrawal per year).
| PPF | ELSS (Tax Saving MF) | |
|---|---|---|
| Returns | 7.1% (fixed) | 12–15% CAGR (historical) |
| Risk | Zero (sovereign guarantee) | Market risk |
| Lock-in | 15 years | 3 years |
| Tax on gains | Fully exempt | 12.5% LTCG above ₹1.25L |
| Liquidity | Low (partial from yr 7) | Good (after 3 years) |
Verdict: Maximize PPF first for risk-free EEE returns. Then invest additional 80C amount in ELSS for higher growth. Use both.
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