Faced with stock market fall and safety of investments in various instruments, many investors are resorting to options which are safe and Government backed with decent returns.
The once hugely popular investment option of Post Office Monthly Income Scheme has been losing its shine since February, 2006 primarily due to the removal of 10% bonus on maturity clause.
Nomination One or more nominations can be made by the subscriber to receive the amount standing to his credit in the event of his death.
Withdrawal The investor is permitted to make one withdrawal every year beginning from the seventh financial year of an amount not exceeding 50% of the balance at the end of the fourth year or the financial year immediately preceding the withdrawal, whichever is less.
Introduction PPF is a 30 year old statutory scheme of the Central Government started with the objective of providing old age income security to the unorganized sector workers and self employed persons.