text: Public Provident Fund Scheme, 2019 has reduced the interest spread to 1 (one) percent from an earlier spread of 2 percent.
  Up to 25 per cent of the balance at the end of the 2nd immediately preceding year would be allowed as a loan. Such withdrawals are to be repaid within 36 months.
  A second loan could be availed as long as you are within the 3rd and before the 6th year and only if the first one is fully repaid. Also note that once you become eligible for withdrawals, no loans would be permitted. Inactive or discontinued accounts are not eligible for loans.
  Features
  The central government establishes the public provident fund. One can voluntarily open an account with any nationalized bank, selected authorized private bank, or post office. The account can be opened in the name of individuals, including minors.
  The minimum amount is ₹500, which can be deposited.
  The current interest rate is 7.1% annually (Q1 of FY 2024-25).
  Interest received is tax-free.
  The entire balance can be withdrawn on maturity.
  The maximum amount that can be deposited annually is ₹150,000 in an account.
  The interest earned on the PPF subscription is compounded annually.
  All the balance that accumulates over time is exempted from wealth tax.