- Minimum Investment of Rs. 500 and maximum Investment of Rs. 1,50,000 per Financial Year (subject to change as per notification issued by Central Government)
- You can deposit the amount in one go or in different instalments.
- Instalments can be for a period of monthly, quarterly, half yearly or yearly
- 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.
Withdrawal from PPF account is allowed after completion of 5 years for the amount not exceeding 50% of the amount that stood to his credit at the end of the fourth year immediately preceding the year of withdrawal or at the end of the preceding year, whichever is lower
- In the case of the death of a customer, their nominee /legal heir can close the account by submitting the required documents
- Premature closure of PPF account is allowed on any of the following grounds provided that an account shall not be closed before the expiry of five years from the end of the year in which the account was opened
- treatment of life threatening disease of the account holder, his spouse or dependent children or parents
- higher education of the account holder or dependent children
- on change in residency status of the account holder
On such premature closure, interest in the account shall be allowed at a rate which shall be lower by 1% than the rate at which interest has been credited in the account