Forget Public Provident Fund (PPF), some Fixed Deposit (FD) plans offer higher interests! Should you invest?
The dilemma has increased more in the wake of rising interest rates on FDs. In some of the Fixed Deposit schemes, banks are offering nearly 9% interest rate, while PPF interest rate was recently revised to 8% by the government.
At the current rate of interest, the maximum investment of Rs 1,50,000/year in PPF can return up to Rs 4,723,056 in 15 years and help save tax also. Image courtesy: Reuters