A PPF account can be opened at a post office against payment of Rs 100, according to India Post.
PPF or 15-year Public Provident Fund is one among various types of small savings schemes offered by government.
A Public Provident Fund account offers a return of 8 per cent per annum at present, and the interest is compounded on an annual basis, according to India Post's website - indiapost.gov.in.
The PPF savings scheme also offers income tax benefits, such as deduction against contributions under Section 80C of the Income Tax Act (as part of the overall deduction limit of Rs 1.5 lakh in a financial year).