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Investments

Public Provident Fund(PPF)

Invest in a long term savings instrument offering tax exemption
on both, principal as well as interest

Competitive Interest Rates

Interest Rate - 7.6% for Q4 of Fy 2017-18

Low Risk

PPF is an extremely low-risk long term investment with Government backing

Tax Benefits

Avail tax benefits under section 80C

Online Access

Check balance, transfer funds, view mini statements online anytime

Features and Benefits

Subscription Amount

  • Minimum Subscription of Rs. 500 and maximum subscription of Rs. 1,50,000 per Financial Year (subject to change as per notification issued by Central Government)
  • Subscription should be in multiples of Rs. 5/-
  • Deposit can be of one lump sum amount or easy instalments not exceeding 12 instalments in one financial year
  • Amount deposited in excess of Rs.1,50,000/- shall neither be entitled to interest under PPF scheme nor be eligible for Tax Benefits

Period of Investment

The original tenure of the PPF account is 15 years, which can be extended further in blocks of 5 years each for any number of blocks. The extension can be with or without contribution.

Closure of Account

  • No premature withdrawal is allowed for Public Provident Fund (PPF) accounts.
  • Only in the case of the death of a customer, their nominee /legal heir can close the account by submitting the required documents

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