New Delhi, May 16 -- The public provident fund (PPF) is a top choice when it comes to long-term financial planning. Launched by the Centre in 1986, it is a reliable, low-risk government backed savings scheme with consistent and guaranteed returns.

At a fixed interest rate of 7.1% this quarter, PPF is among the safest investment options for tax planning, building a long-term corpus and retirement in India and an effective wealth builder. Available for tax benefit under the old tax regime, it is EEE advantage - exempt investment, exempt maturity amount, exempt interest earned.

A total of Rs.1.5 lakh annual contribution is exempt under Section 80C of the Income-Tax Act for old tax regime. There is no similar benefit at present under the ne...