PPF Account: If the PPF account is inactive, then one cannot close it before the completion of the maturity period.
Investment in PPF, interest earned on it, and the amount received on completion of the maturity period, all three are completely tax-free
The account has a validity of 15 years and the subscriber needs to deposit a minimum of Rs 500 every financial year to keep the the account active
Apart from the habit of savings that will be inculcated in your child, a PPF account opened early in life can result in big savings for the child