Untitled Page
All-India Toll Free number1800 22 22 44 All-India Toll Free number for PMJDY Scheme1800 22 22 43
Dedicated Number for NRI+918025302510
Govt Business
Public Provident Fund
Features
 
 
Public Provident Fund
 
ELIGIBLITY FOR OPENING ACCOUNT 1968
The scheme is open to Individuals and account can also be opened on behalf of minor child as a natural / legal guardian, on behalf of HUF , on behalf of an association of persons or a body of individuals.
 
SUBSCRIPTION
Minimum amount Rs.500/- and maximum Rs. 100,000/- per annum. The number of installments in a financial year should not exceed 12.
 
PERIOD
Minimum period is 15 years and can be extended in a block of 5 years.
 
RATE OF INTEREST
Presently, 8.7% p.a. however, subject to change as per Govt. Notification from time to time.
 
WITHDRAWAL FROM THE FUND
Partial withdrawals are allowed after the expiry of 5 financial years. Entire amount can be withdrawn after completion of 15 years.
 
LOANS
After the expiry of one year but before the expiry of 5 years from the end of the year in which initial subscription was made, a loan of 25% of the credit balance at the end of the second year immediately preceding the year in which the loan is applied may be availed of by the subscriber.
 
NOMINATION
Nominations of one or more persons are allowed except in the account opened on behalf of the minors.
 
PREMATURE WITHDRAWAL
No withdrawal is permitted before the expiry of 5 years.
 
TAX CONCESSIONS
  1. Interest on PPF / withdrawal from the fund is exempted from Income tax
  2. Balance held in PPF account is totally exempt from wealth tax.
  3. Deposits in the name of wife/minor children will also qualify for deduction of section 88 of Income Tax Act, 1961
  4. The balances under PPF are not subject to court attachment.
 
 
In case of difficulty, contact Mr.N.K.Ramachandran, Chief Manager .
Tel.No 022-22721217,22723611.
Email Address: govtbusiness@unionbankofindia.com
 
PPF accounts can be opened at any of the following branches:


Please click here
 
 
I am a defense pensioner dependent on your sector 29, NOIDA branch drawing pension for more than 12 years.
Untitled Page