New Delhi, Oct. 13 -- Parent looking to gift their child a secure future, can consider the public provident fund (PPF) - among the preferred options for guaranteed returns when it comes to long-term financial planning. The reliable, low-risk government backed savings scheme can be used to meet financial goals such as funding of wedding, children's education abroad, buying a house, retirement fund or even building wealth.

A PPF account can be easily opened at any post office or bank branch across India by submitting an application form, photo and mandated KYC documents. For minors, the parent / legal guardian can open an account, which must be converted to major status once the primary account holder turns 18 years of age.

Today, we calc...