New Delhi, Aug. 2 -- Public Provident Fund (PPF) remains one of the most popular long-term savings option for Indian investors as it offer government-backed safety, tax benefits and attractive compounding over a 15-year lock in period. Many people open a PPF account early in their careers and continue contributing for decades as part of their retirement or wealth-building strategy.

This scheme offers a 7.1% interest rate per annum. It also enjoys "Exempt-Exempt-Exempt" tax status, meaning your yearly deposits, the interest you earn, and the final maturity amount are all completely tax-free. Any Indian resident can open a PPF account, but NRIs are not permitted.

However, simply having a PPF account does not guarantee that you will get th...