PPF Vs FD: Nowadays everyone wants a scheme in which there is maximum benefit on investment. With this, the amount invested remains safe and does not have to face any risk.
Let us tell you that a scheme is being run by the government which gives strong returns on investment. Its name is PPF Scheme. Many banks are also giving bumper returns to people on their FD schemes. In such a situation, people get confused as to which is better, PPF and FD. In which people will get huge benefits. Let us tell you about it in detail.
PPF Scheme
Let us tell you that you can invest maximum up to Rs 1.5 lakh in PPF. Apart from this, a minimum investment of Rs 500 can be made. This is a long term investment. You can invest in this for 15 years. After 15 years of investment, you can extend the scheme thrice for 5 years each. Along with this, if we talk about interest rate in PPF scheme, interest is available at the rate of 7.1 percent. Its special thing is that it also has premature closure.
According to the information, FD facility from 7 days to 10 years is available from the bank. In this, customers get the benefit of interest on FD. Market fluctuations have no effect on it. FD gives more interest than savings account. SBI public gets interest at the rate of 3% to 7.10% and senior citizens get interest at the rate of 3.50% to 7.60%.
In such a situation, let us tell you that both the options are quite right as per investment. Apart from this, if we talk about interest rate, more interest is being given than PPF scheme and FD. By investing money in this, you get maximum interest benefit.
Tax benefit
After this, if we talk about tax benefits, then PPF proves to be the best option. In this, returns are available with guarantee. Apart from this, this is a government scheme. Investment in this scheme is for 15 years. Which is quite suitable for long term investors.
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