Which is better for investment purpose—a recurring account or a public provident fund (PPF) account?
A recurring deposit usually pays a simple interest. The interest on PPF is compounded every year, and therefore can be higher. Recurring deposits are available for shorter tenures and funds can be realised if you need them early. PPF is a 15-year account and you can only make partial withdrawals from the seventh year. Investments in PPF are eligible for a tax deduction, and interest is tax-free. RDs do not enjoy tax concessions and interest received is subject to tax. Choose on the basis of your investment goals, tax situation and time period. Dharam Ahlawat, email HDFC Bank and ICICI Bank sell gold over the counter. I find the price offered by them far higher than the price quoted for similar purity/carat in the newspapers. How do these banks work out their selling prices? Please explain. Banks are only dealers in gold. They, therefore, have to purchase gold, store it and then make it available for sale. The prices you see in the newspaper are prices in the market and do not include t
