PPF Vs FD: Great scheme making waves in the market, there will be bumper profit on investment, read details
New Delhi PPF Vs FD: At present, many schemes are being run in the market. But choosing the best scheme becomes quite difficult. Therefore, even today people rely on PPF or FD scheme, both these schemes are away from market risk. If you are thinking of investing in any of the government’s Public Provident Fund Scheme or FD Scheme, then in this article we are going to tell you which option is right for you.
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PPF scheme is special for the people
You can invest in this scheme for 15 years. Along with this, it can also be extended thrice for 5 years each. You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in this. At present, 7.1 percent interest is being given on the amount deposited in this scheme. In this scheme, PPF can be closed with certain conditions. In this, both your income and maturity amount are tax free under Section 80C of the Income Tax Act 1961.
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FD is amazing for investment
FG scheme in the bank is a reliable option for investment. In this FD scheme, you get the facility for 7 days to 10 years. Whatever be the market conditions, you get fixed interest in it. More interest is given in FD than savings account. In which SBI is giving interest ranging from 3% to 7.10% to ordinary account holders and 3.50% to 7.60% to senior citizens.
Which one is best to invest
From investment point of view, both are excellent options. But if we look at the interest rate, PPF scheme gives higher interest than FD. At the same time, tax benefit is also available in it. Accordingly, PPF is the best option for you. But if you want flexibility then FD is the best option for you. Investment in PPF has to be made for 15 years. If you want to withdraw money then permission is given after 6 years.
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