New Delhi, April 13 -- The public provident fund (PPF) is a top choice when planning your finances for retirement. Launched in 1986. PPF is a government backed savings scheme, with guaranteed tax-exemption on investment, maturity amount and interest earned (aka EEE benefit).

At a fixed interest rate of 7.1% this quarter, PPF is among the safest investment options for retirement and tax planning in India.

Individuals, including minors with the help of parents, can open a PPF account. You can open one account per person for a period of 15 years. After this term, the account can be extended in blocks of five years indefinitely, with or without added contributions.

Notably, there is no upper limit on the number of times you can extend the ...