As you all know that IBPS PO exam is near.One of the most important parts of this Exam is Descriptive Writing that test Your writing skills, here we are providing you ESSAY/LETTER WRITING Which are asked in the IBPS PO Exam.
Letter to friend to aware him about the importance of and benefit of PPF (public provident fund)
33 , Ashok Road
25th August, 2018
Hope you and your family are doing well. I am writing this letter to tell you about the PPF account I opened last month with my first salary. This has many benefits and I will mention a few of them.
One can start a PPF account with a minimal amount of Rs 100. In fact , one needs to make a deposit into the account only once a year ( deposits can be made frequently as well) . Operating a PPF account is as easy as maintaining your normal saving account.
One of the major benefits of PPF is that it has tax benefits as the interest earned on PPF account and the lump sum proceeds out of account are all exempted from Income Tax. PPF also offers a comparatively bigger rate of interest than what is offered by savings accounts in banks. Exclusive and unmatched rate of interest is one of the core reasons why people prefer PPF against all other small saving schemes. The best part is that because of this, you can be assured of really good savings. Since this is a government-backed scheme, the investment is completely risk free.You can take loans or make partial withdrawals against your PPF account. This is certainly one of the major benefits of PPF account. In my perception, a PPF account is your Mini-Bank. You keep depositing whatever money you have and when you need it, you take a loan against your investment and repay it later.
I hope you will understand the advantage of having a PPF account. I request you to also open an account at the earliest.