People often mistook Public Provident Fund or PPF for Employee Provident Fund or EPF, though both are provident fund and backed by the government of India, they are independent of each other. The main difference between PPF and EPF is that former is totally controlled by you and only you can make a contribution on that account, on the other hand, EPF is for both you and employer to contribute money.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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