• Skip to main content
  • Skip to primary sidebar
  • Home
  • Mutual funds
  • stock trading
  • saving schemes
  • Tax
  • Life Insurance
  • Credit card

Jo jo wealth

AMFI Registered Advisor

How to Open PPF Account Eligibility Interest rates Return tax Benefits etc

 
Eligibility

  1. There is no upper age limit and minor can open it.
  2. Any resident of India.
  3. NRI can operate but not contribute when abroad.

 
Features

  1. Open in any bank
  2. Flexible payment 500-1.5lakhs In a 1 year.
  3. EEE Status Fully Tax-Free
  4. 15 Years tenure Lock-in period
  5. After 7 years of Premature withdrawal available up to 50%
  6. Interest rate* as of Now 8% (quarterly changes) better than FD.
  7. Interest calculated on Monthly basis (from the 5th-30th month)
  8. Deductible under section 80C 1.5 Lakh.
  9. Risk-Free Investment
  10. Loan Against PPF Available between the 3rd to the 6th financial year (25% balance of previous year)
  11. Transfer PPF balance to any bank

 
How to open PPF Account Offline / Online?
offline:

  1. Visit the Nearest Bank or Post Office. (SBI, PNB, India Post, HDFC, ICICI etc)
  2. Submit Documents PPF Application Form (FORM -A)
  3. PAN Card and ID &
  4. Address Proof.

Online

Some banks offer like ICICI. If you are logged with your Netbanking.

There is a Menu to Open PPF Account. Hence Your KYC already with them So you can Open Instantly.

CLosing
Premature Closing in below conditions

  • after 5 years.
  • serious illness of family,
  • higher education for the account holder or minor account
  • 1% interest rate deducted as a Penalty

 
How Revive PPF Account?

  1. If you stop paying the PPF Then your will PPF will be Inactive.
  2. you can reactivate it By paying a Penalty Fee 50 Rupees and Minimum Contribution 500 INR for Every inactive year.

 
PPF Intrest rates
 

Year wise
Interest rate (Per Annum)

2018-2019
8.0%

2017-2018
7.8%

2016 – 2017
8.0%

2013 – 2016
8.7%

2012 – 2013
8.8%

2011 – 2012
8.6%

2005 – 2011
8.0%

 
Calculating PPF Returns

Monthly investment
Interest rate
tenure
Amount invested
Interest earned
Total maturity

1000
8%
15
180,000
171893
35,1893

2000
8%
15
360,000
343,783
70,3783

3000
8%
15
540,000
515,676
1,055,676

4000
8%
15
720,000
687,565
14,07,565

5000
8%
15
900,000
859,454
17,59,454

10000
8%
15
1,800,000
1,718,914
35,18,914

12500
8%
15
2,250,000
2,148,645
43,98,645

 

TIP:

1. Investing HIgher Amount (up to 1.5 lakh) in Early Years Makes Lot of Profit because of Compound Interest.

2. You Must make Savings as a passion for the best investment for future

3. Divide interest rate with 72 to know when your amount will be double. (72/8=9 so your invested money at lumpsum doubled in 9 years at 8% interest rate)

 

PPF (Public Provident Account) FORMS List

Forms
Nature of the Form

Form A
opening

Form B
making deposits and repaying the loans

Form C
partial withdrawals

Form D
To apply for a loan

Form E
Adding a nominee

Form F
Changing the nomination

Form G
 claiming funds by the nominee or the legal heir

Form H
extending the of the PPF 1 to 5 years

Primary Sidebar

  • EPF balance Interest rates return calculation transfer Tax benefits
  • Sukanya Samriddhi Yojana SSY ,eligibility, returns, tax benefits, Calculation
  • How to Open PPF Account Eligibility Interest rates Return tax Benefits etc
  • NPS Scheme Application process Features, tax benefits, returns, comparison
  • kisan vikas patra KVP Interest rate, calculation, tax, comparison with NSC PPF FD etc
  • POMIS Post Office Monthly Income Scheme vs lic jeevan akshay vi vs Bank FD
  • FIxed Deposit Interest Rates (ICICI, SBI,HDFC etc) FD Calculator
  • Senior Citizen Saving Scheme Interest rate, calculation, eligibility tax benefits
  • Recurring Deposit calculator, interest rates
  • ULIP vs SIP, PPF, Mutual Funds FD, Term Plan, LIC, Endowment Plans
  • National Saving Certificate NSC calculator, interest rates eligibility tax etc



  • Home
  • Mutual funds
  • stock trading
  • saving schemes
  • Tax
  • Life Insurance
  • Credit card

Tools

  • two wheeler loan emi calculator
  • Car Loan EMI Calculator
  • Personal Loan EMI calculator
  • Home Loan EMI calculator
  • FD Calculator Fixed Deposit
  • Recurring deposit RD calculator
  • SIP Calculator
  • compound interest calculator
  • EPF Calculator

Follow Us

Facebook

Twitter

 

disclaimer: Information here for education purpose only
Copyright 2019 All Rights reserved TOS Disclaimer