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Tuesday, 3 March 2020

Post Office Ni Moti Skim

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15 year Public Provident Fund Account (PPF ): Interest payable, Rates, Periodicity etc. Minimum Amount for opening of account and maximum balance that can be retained From 01.07.2019, interest rates are as follows: 7.9​ % per annum (compounded yearly).
Minimum INR. 500/- Maximum INR. 1,50,000/- in a financial year.

Deposits can be made in lump-sum or in 12 instalments.
​Salient features including Tax Rebate
An individual can open an account with INR 500/- and a deposit minimum of INR 500/- in a financial year and maximum INR 1,50,000/- (including amount deposited in a minor account opened on behalf of guardian).Joint account cannot be opened and only one account can be opened by a citizen in India Account can be opened by cash / Cheque and In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account Nomination facility is available at the time of opening and also after opening of account. Account can be transferred from one post office to another The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on Maturity value can be retained without extension and without further deposits also Premature closure is can be allowed after 5 years from the end of the year in which the account was opened subject to the following conditions. 1% interest will be deducted from the date of account opening.

Important Link:
Read In Gujarati Indian Post Office Scheme: 15 years Public Provident Fund Account (PPF ): 

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