- There is no upper age limit and minor can open it.
- Any resident of India.
- NRI can operate but not contribute when abroad.
- Open in any bank
- Flexible payment 500-1.5lakhs In a 1 year.
- EEE Status Fully Tax-Free
- 15 Years tenure Lock-in period
- After 7 years of Premature withdrawal available up to 50%
- Interest rate* as of Now 8% (quarterly changes) better than FD.
- Interest calculated on Monthly basis (from the 5th-30th month)
- Deductible under section 80C 1.5 Lakh.
- Risk-Free Investment
- Loan Against PPF Available between the 3rd to the 6th financial year (25% balance of previous year)
- Transfer PPF balance to any bank
How to open PPF Account Offline / Online?
- Visit the Nearest Bank or Post Office. (SBI, PNB, India Post, HDFC, ICICI etc)
- Submit Documents PPF Application Form (FORM -A)
- PAN Card and ID &
- Address Proof.
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.
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?
- If you stop paying the PPF Then your will PPF will be Inactive.
- 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)|
|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|
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 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|