Why PPF still belongs in your portfolio
PPF triple-EEE status (deduction on deposit, tax-free interest, tax-free maturity) makes its effective return higher than most fixed-income alternatives for the 30%+ tax bracket.
15-year lock-in encourages discipline; partial withdrawals are allowed from year 7, and the account can be extended in 5-year blocks indefinitely.
Interest compounds annually on the lowest balance between the 5th and last day of each month — depositing before the 5th maximises interest.