PPF Account: The Public Provident Fund (PPF) account is not just a long-term investment tool. During any kind of financial crisis an account holder can take loan from one’s Public Provident Fund Account against the PPF balance accumulated during the investment period. As per the tax and investment experts, borrowing loan from PPF is much cheaper than other retail bank loans like personal loan, gold loan, loan against Fixed Deposit, etc. They said that loan against PPF balance is available at 1 per cent interest rate. So, if you are facing money crisis during Coronavirus lockdown, then loan against PPF balance can be a better option.
Comparing the loan against PPF balance with other retail bank loans available in the lending market; Manikaran Singhal, a SEBI registered tax and investment expert said, “Loan against PPF balance is definitely much cheaper than other retail loans such as personal loan, gold loan or loan against fixed deposit (FD), but one needs to know that loan from…
