ICICI Bank in India provides a PPF Scheme which offers an attractive 8.7% PA. I was trying to figure out the interest that I could earn by using this PPF calculator of theirs.
There are a couple of things that I don't understand (I'm a newbie so some of the terms and things being asked by the calculator are really confusing)
Why is MY age important ? Does it affect the total interest I earn in any way ?
What does "Subscription Option" mean ? It has values like Quarterly, Yearly, Monthly etc. Can someone please explain this to me ?
Lastly, I know this sounds really stupid but this is guaranteed returns right ? There's no risk involved here unlike Mutual Funds, Equity Investments.