The Public Provident Fund (PPF) is a long-term savings scheme that offers you returns in the form of interest. It also provides you with partial protection against inflation. The PPF account can be opened with any scheduled bank or post office. The minimum amount that you can deposit in a PPF account is Rs 500 and the maximum amount is Rs 1,50,000 per financial year.
The main advantage of investing in a PPF account is that it offers you safety of your investment as it is backed by the Government of India. Moreover, your investment in PPF qualifies for deduction under Section 80C of the Income Tax Act.