2 mins Read | 3 Years Ago

5 Reasons to Open a PPF Account



The significance of having a financially secured future could never be emphasised enough. In the recent times, we’ve realised that it helps to have safe investments that you could count on in the face of crisis. Public Provident Fund (PPF) is one of the safe and trusted channels of investment. Here’s why you should consider opening a PPF Account with ICICI Bank at the earliest:

1. It’s a low-risk product

Unlike a lot of investment products, that perform according to the highs and lows of the market, PPF is mostly unaffected by any fluctuations in the economy. Even at times when the economy isn’t at its best, PPF could ensure safe and guaranteed returns. Investment in PPF is backed by the Government and would never result in a default. Thus, opening a PPF Account is an integral step to safeguard your future.

2. It’s a tax-saving instrument

Other than being one of the safest investment avenues, an investment in PPF would also give you triple exemption benefits under Section 80C of the Income Tax (IT) Act, i.e. no tax on investment, returns and maturity, up to an investment of Rs 1.5 lakh. Such a relief from taxation makes PPF a very lucrative option to invest in.

3. You can start small

You don’t need a huge sum of money to enjoy the benefits of investment in PPF. You could open your account with a deposit of Rs 500 and continue with the same amount every year, or increase it as per your convenience. You could choose to deposit a lump sum or make monthly deposits. The flexibility and convenience of investing in PPF is a good enough reason to open a PPF Account right away.

4. There are long-term benefits

Opening a PPF Account means committing to the investment for a minimum of 15 years, after which you could choose to withdraw your lump sum amount or continue investing. This means that your money is secured for a long term and will keep growing for as long as you would want it to. You’re eligible to make partial withdrawals 5 years after opening the PPF Account. PPF is a preferred investment vehicle for a carefree retirement.

5. The process of opening a PPF Account is simple

You need not go through the hassles of visiting banks several times to initiate your investment in PPF. Once you’re an ICICI Bank customer, you could use your login details and fill an online application for opening a PPF Account in a couple of minutes through iMobile-Pay app. You could also transfer your existing PPF Account from another bank to ICICI Bank using iMobile-Pay, without any hassles.

Thus, safe and guaranteed returns, tax-exemption, convenience of investing, long-term benefits and the simplicity of process are the features that make PPF a popular vehicle of investment. For any queries that you may have while opening a PPF Account with ICICI Bank, please refer to the FAQs. Safeguard your future by opening a PPF Account with us through iMobile-Pay. The ease of investing would delight you now and the reward of investing will relieve you in the future.

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The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

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