You can deposit a minimum of Rs 500 or a maximum of Rs 1.5 lakh every year in the PPF account.

The PPF account is fixed for 15 years, after which you can withdraw this money or extend it every 5 years.

The central government changes the interest rate on the PPF account every 3 months. The interest rate is usually 7-8% per cent.

If you deposit 1000 rupees every month in PPF account, then in 15 years your amount will become 1.80 lakhs, on this you will get an interest of Rs 1.45 lakhs.

If you continue to invest Rs 1000 every month for 15 years even after the maturity period of 15 years, then your total amount will be Rs 3.60 lakhs, adding interest on this, you will get a total of Rs 12.36 lakhs at maturity.

Better returns can be obtained from PPF by investing over a long period of time.

PPF account can be opened in any post office or government bank.

The duly filled application form along with the KYC attached has to be submitted for opening the account.

You can also open a PPF account sitting at home using SBI's Internet Banking.