Why you should open a PPF for your minor child?

PPF Account for Minor Child
PPF Account for Minor Child- Image Source: Shuttershock
  • A longer lock-in period of around 15 years allows parents to save money for their child till they become adults and use the money upon maturity for their education, marriage, etc.
  • Tax benefits under Section 80C can also be availed by parents
  • Post maturity if the account is extended the lock-in periods are shorter solving the liquidity issue
  • Your child can also withdraw money as per his/her requirement while continuing to earn interest on the balance.

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