Under SBI's PPF account, interest income is totally exempt from Income Tax.
State Bank of India (SBI), country's largest lender, offers a host of services to its customers.
PPF (Public Provident Fund) account, one such product offered by lender, is a retirement planning-focused instrument.
Public Provident Fund (Amendment) Scheme, 2016 was introduced by National Savings Organization in 1968 to mobilize small savings.A PPF account provides an investment avenue with decent returns coupled with income tax benefits, according to SBI's corporate website - sbi.co.in.
Individuals in their own name as well as on behalf of a minor can open PPF account at any branch.