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PPF Account For Minor: Things To Know
PPF is one of the most favorite investment product in India and every person wants to open a PPF account for his minor child. However, there are lots of myths about the rules on opening PPF account.
Public Provident Fund (PPF) is a government-backed investment scheme in India. It is very popular for the good rates of returns and security associated with the investments.
Most of the working parents today in India prefer PPF because of the tax benefits it provides on the investments made. If you are contributing to the PPF account of the minor, you can enjoy the tax benefits on your contributions to your own PPF account as well as to the account of your minor children. PPF account for minor children is a good idea if you want to build a long-term corpus for their education, marriage or any other requirement.
Know the basic details about opening a PPF account for a minor:
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