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S. K. Raghav

financial advisor for small saving

Public Provident Funds

Indian Postoffice Savings

Who can open a Public Provident Funds account:

  • An individual :
    • in his own name,
    • on behalf of a minor of whom he is a guardian,
    • a Hindu Undivided Family.

Where to open a PPF account

  • at designated post offices throughout the country and
  • at designated branches of Public Sector Banks throughout the country.

Maturity period

  • The account matures for closure after 15 years.
  • Account can be continued with or without subscriptions after maturity for block periods
    of five years.

Nomination

Nomination facility is available under Public Provident Funds accounts.

.

Deposit limits

  • Minimum deposit required is Rs. 500 in a financial year.
  • Maximum deposit limit is Rs. 70,000 in a financial year.
  • Maximum number of deposits is twelve in a financial year.

Loans against Public Provident Fund Account

Loans from the amount at credit in PPF account can be taken after completion of one
year from the end of the financial year of opening of the account and before
completion of the 5th year. The amount of withdrawal cannot exceed 40% of the
amount that stood to credit at the end of fourth year preceding the year of withdrawal
or at the end of preceding year whichever is lower.

Withdrawal

Premature withdrawal is permissible every year after completion of 5 years from the
end of the year of opening the account.

Transferability

  • Account can be transferred from one post office to another post office,
  • from a bank to another bank; and
  • from a bank to post office and vice-versa.

PPF Pass Book

Depositor is provided with a pass book with entries of the deposited amounts, interest
credited every year and other particulars duly stamped by the post Office.

Interest

    · Interest at the rate, notified by the Central Government from time to time, is
    calculated and credited to the accounts at the end of each financial year.
    · Present rate of interest is eight per cent / per year since: 1st March, 2003.

Income Tax relief for Public Provident Fund account holders

  • Income Tax rebate is available ‘on the deposits made’, under Section 88 of Income
    tax Act, as amended from time to time.
  • Interest credited every year is tax-free.
National Savings Certificate (NSC) Public Provident Fund (PPF)
Interest Paid: 8%, compounded half-yearly Interest Paid: 8%, compounded annually
No monthly/yearly payments No monthly/yearly payments
Minimum investment: Rs 100
Maximum investment: No Limit		 Minimum investment: Rs 500 (required annually)
Maximum investment: Rs 70,000
Tenure: 6 years Tenure: 15 years
Tax benefit under Income tax available.
Amount invested or Rs 1,00,000 which ever is lower		 Tax benefit under Income tax available.
Amount invested or Rs 70,000 which ever is lower
Good investment for medium-term option Good investment for medium-term option

57 Responses to “Public Provident Funds”

Poonam V [ 19Dec08]

Hi,

I would like to know more about ppf kindly tell me in detail about it.how much tax saving can i do .and how much return it will give?

Pankaj H Gandhi [ 21Dec08]

Sir,
If an amount exceeding Rs. 70,000/- is deposited in a PPF account what is the tratment is given to the additional amount?

Will Bank consider the additional amount for calculating interest?

Kindly advise.

Thanks & Regards.

P. H. Gandhi

M. Khalid [ 22Dec08]

Sirs,

Can you please send me the complete details for NRI/NRE’s to invest in banks or post offices. Also,can NRi’s can open the ppf in post offices, if yest , please send details.

Kindly send the details

Sircar [ 30Dec08]

I have a PPF account with SBI. Four years back I opened this account.

Now is it possible to withdraw the amount which I have deposited till now?

Is their any penalty in withdrawing the amount?

Masuna Siva Prasad [ 08Jan09]

please send a ppf table year wise. every year returns and surrendar charges or any in exel sheet.
thank you
M. siva Prasad
Hyderabad

deepesh sharma [ 12Jan09]

hi
i want to know if i open ppf account in himachal pradesh, can i transfer it to delhi.

hansel [ 16Jan09]

i had invested 69000/- in ppf in year 2006 -2007 but havvent invested any amount in the years 2007-2008 but now i was wondering how to get the details of my account and how could i update it? Also i wanted to know if it is active or not?

Santosh Shekhar [ 28Jan09]

Hello Sir,

Please tell me if i invest 10,000 in PPF, what would be my return and after how many years.

snehlata [ 02Feb09]

hi,
I am 38 yrs old and want to invest in PPf which bank should I contact for this? kindly reply, thank u
sneh

Fardeen Irani [ 05Feb09]

Hi I have a PPF account opened by my mother for me when I was a minor now I am 26yrs how do I get myself as Major for that account. Also the same is for my brother, but now he is a citizen of the USA how do I do it for him as well.

shailesh [ 10Feb09]

Plz let me knowdocuments required for opening a PPF a/c on minor’s name

Sheela [ 11Feb09]

Hi,

I want to open PPf in Pot office, minimum of 5K, within how many days i will get money back and how much tax i can save.please let me know.

Raman [ 11Feb09]

Dear Sir
I opened PPF a/cs in my and minor name.The amount deposited in Minor account was from his own sourses.I held minor account as a gaurdian.Now on maurity Bank refused to make the payment by saying that the Minor account will not fetch any interest as it exceeded Rs.70000/-.
While the Passbook shows complete entries with Interest amount to date.The payment is being held.Kindly guide to solve the problem while amount was deposited in goodfaith.
Thanking you.

jessica fernandes [ 12Feb09]

hi
i want to open a PPF a/c in the post office, but i have no idea of this a/c. can u help me on this.
i would like to know if i invest 500 monthly or 2000 p.a after 15 yrs what is the return i will get, also if it will be taxed, what is the procedur to open this alc.
kindly help

jessica

Hemang Gohil [ 13Feb09]

Hi,
I need to open PPF account in a nationalised bank, I need to know that if we open the same, can we transfer the money on line into the PPF ACCOUNT or have we to go personally to the bank and do the deposit.

Ajo Thomas [ 15Feb09]

Hi,
I need to open PPF account in SBI bank, I want to know that if i open the open the Account in SBI, i can transfer the money through online into the PPF ACCOUNT or have we to go personally to the bank and do the deposit.

Ashish [ 18Feb09]

Dear sir,
I have read and understand it but let me tall one think that what is the diff. between (bank account & post office PPF) or PPF which is deducted by empolyer from the salary of employee

DINESH ARORA [ 24Feb09]

I have my own ppf account , so can i open a new ppf acount for my son name. (minor child age 11 months)

ANANTH [ 04Mar09]

Also,can NRi’s can open the ppf in post offices, if yest , please send details.

Irshad Ahmed [ 16Mar09]

Dear Sir,

I would like to open a PPF a/c what is the procedure of same , and pls provide list of bank on whcih this A/c can be open

thanks & regards
Irshad A Mansoori
9820 604 999

Piush Agarwal [ 17Mar09]

One has to personally go and deposit money in ppf account as the net transfer can take place for accounts which are only numeric in nature. PPF accounts are alpha numeric in nature and hence neft transfers can’t be done.

kuldeep [ 19Mar09]

hi actually i heard bout ppf in post office could u pl suggested me how to open & deposit money in that a/c & what is the rate of int,actually i want to invest 2,10,000/=rs for my kids education ,although they r minor.my email id is kuldeepgrey@gmail.com
thx

G.Moorthy [ 22Mar09]

I have ppf a/c in post office at haryana. Can I deposit in my a/c anywhere post office in india. If I deposit money can i get agent commision from that post office. Presently I am getting commision from my agent in Harayana.

Abhishek [ 03Apr09]

Hi

I have a PPF account in a post office. Just want to know how will i know how much interest is credited to my account. Do i need to go to the post office every year and get the same entered and stamped by the post office.

Prakash [ 03Apr09]

I want to Open PPF at Post office. Can I pay the subscription through online?

vinay [ 04Apr09]

CAN HUF OPEN NEW ACCOUNT IN NAME OF MEMBER OF HUF ?
AND IF YES
THAN IF THAT MEMBER HAVE ALSO PPF ACCOUNT IN HIM SELF THAT WHAT?
CAN WE CHANGE AGENT IF OUR AGENT WONT GIVES SERVICE

rakesh sharma [ 11Apr09]

I have a HUF ppf account it has been matured in this financial year it will not extended but I do not want to close this account so please tell me I will get interest after maturity or not
Thanks

RAVINATHAN S [ 16Apr09]

My Querry.

I am saving the money in Post Office through PPF. Every month I am unable to pay the dues due to long que in Post office. But I am interested to pay through ECS from bank account. could you please advice me is there any ECS in Post Office. If so let me have the details.

You can givee your suggestions to the above e.mail id for taking necessary actions at my end.

Thanking you in advance for doing the needful.

Ravinathan
9940563310.

sohan [ 20Apr09]

Hi,

i want to invest some money into the NSC and some money into the PPF account but i have a shortage of time . Is it possible can any agent come at my place or do the formality …i am putting at south delhi.

Ruchira Ramesh [ 21Apr09]

i want to open ppf account , what documents are needed for it. how i can i will pay, is i can pay online

amit gupta [ 25Apr09]

My Father has opened a PPF A/c in the post office in the name of his HUF in the year 2001. The HUF consisted of him as karta, my mother, me and 2 sisters of which my mother and one sister died before my father’s death in the year 2005 leaving behind me and one sister as the members the HUF. I am the sole inheritant of his property as per his will. The Post office authorities are neither pre-maturing the account nor transferring the amount to my HUF account. Kindly inform as to what would happen of the account. R D Gupta

Fareed [ 25Apr09]

Sir,

I am intrested to open a PPF A/c.

I am planning to pay Rs.12,000/- per year.

After 15 years which amount i can get.

and kindly send interst details to me.

Fareed.
9912226762
vfareed@gmail.com

Pramod Kumar Gupta [ 28Apr09]

Hi,

This is Pramod I want to get the open PPF Account in Post Office. Can i online deposit the money in my PPF account? And also tell me charges for account.

Thanks & regards

Pramod Gupta

prakash [ 08May09]

sir,
Can I transfer money online from hdfc bank to PPF account?

Banke Lal Suri [ 12May09]

My Phone No is 09419186120. I want to how can I transfer my PPF account to Nationalized Bank / HDFC Bank Ltd ( Private ).
Post Office official are coperating as I am a senior citizen and their service awafully bad.
Please advice.

supriya [ 15May09]

i want to ppf /ac in SBI bank

dr k rajagopalan [ 19May09]

can i continue ppf account even after 30 years please reply urgently

Ajit Agrawal [ 23May09]

CAN I CHANGE AGENT IF OUR AGENT WONT GIVES SERVICE

Ajit Agrawal [ 23May09]

What is the procedure to change address in PPF account.

Hiren [ 02Jun09]

Hi,

1) I am planning to pay Rs.6,000/- per year
2) how many i will get after 10 years
3) can you send me all procedure for how many i need to pay per month & when i get interst before start next year (means can you send me after 1 year complition how many interst i will get, after 2 year complition how many i will get like this tell me 10 year interst.

please send me mail ASAP.

hiren.a.bhatt@gmail.com

samba Panthangi [ 13Jun09]

you can open PPF Account in your nearest SBI branch or Post office in 5 minutes. PPF has a maturity period for 15years. Minimum amount to open PPF account is 500. In a year the maximum amount that you can deposit in PPF is 70000 i.e they consider it as a higher limit. If you deposit more than 70000 also no problem. They will not give interest for the amount exceeded 70000rs. Transferring amount to PPF account through internet is not possible upto my knowledge. If you know that it is possible please let me know. The amount you invest is compounded annually. You can transfer your PPF account to your nearest branch by closing the PPF account in existing branch. It is very useful for longterm savings. In this 15 years period you can withdraw some 25% amount in 3rd year.
Regards,
SambaPanthangi

Abhay Jain [ 22Jun09]

hi,
I want to open a PPf account. so with reguard to this I just want to know,
What are the terms and conditions?
What are the documents required?
Can a private company provide PPF?
Can a foreign bank provide a PPF?
What is the minimum and maximum amount required to be invested in PPF?
What is the minimum and maximum withdrawals in PPF?
Can I open a joint holder PPF account?
Can there be a nominee?
What is the procedure for renewal?
What is a Closure for PPF?
Are the agents appointed to open PPF?
I would request you to answer this as soon as possible……..

Abhay Jain [ 23Jun09]

I want to open a PPF a/c, so with reguard to this I want to know that,
What are the terms and conditions to open a PPF?
What are the documents required?
Can a private company provide PPF?
Can a foreign bank provide a PPF?
What is the minimum and maximum amount required to be invested in PPF?
What is the minimum and maximum withdrawals in PPF?
Can I open a joint holder PPF account?
Can there be a nominee?
What is the procedure for renewal?
What is a Closure for PPF?
Are the agents appointed to open PPF?

Amitava Das Choudhury [ 18Jul09]

Sir
I have an PPF Account at Siliguri H.P.O. since 2004. I have not get Computerised Pass Book till date. I am completely unwawre of the interests received by me time to time. So,I am totally not satisfied with their service. Now I desire to transfer the account to SBI or UBI, Siliguri Branch. What is the procedure ? Please let me know.

Thanking you
Amitava Das Choudhury
c/o. Ajit Das Choudhury
Govt. Saw Mill Road,
Mahanandapara,
Siliguri - 734005
West Bengal

Cell : 98320-77689

Amtul Aziz [ 24Jul09]

I have opened my PPF account thru ICICI Bank. The address mentioned While opening the account is changed. all my statements are being sent to my old address. I want to receive my PPF statement to my new address. Please let me know the procedure to change address in PPF account.

Ravinder [ 02Aug09]

I want to open PPF account in SBI can I Open online & subsequently can I made the payment online. Please tell me procedure & document required for opening PPF account although I have saving account in SBI

Regards
Ravinder KR Chauhan

mysaving [ 26Aug09]

Sir,

I am intrested to open a PPF A/c.

I am planning to pay Rs.12,000/- per year.

After 15 years which amount i can get.

and kindly send interst details to me.

Amit
mt.kawade81@gmail.com

nafiz [ 26Aug09]

Hi Freind

I earn Rs. 30000 a month and Kindly advice me on how to save my tax. what are the best way sought.

waiting for the reply at the earliest.

request you to kindly reply to naazpc@gmail.com

gaurav [ 06Sep09]

Hello sir

I have an amount in my father’s ppf who has died.
I want to withdraw that amount and save it for monthly income scheme
Also i want to save tax on its withdrawal
I am a salaried individual with no other source of income
Kindly tell me any monthly income schemes and way to save tax on such withdrawl

gaurav [ 07Sep09]

Hello sir

I have an amount in my father’s ppf who has died.
I want to withdraw that amount and save it for monthly income scheme
Also i want to save tax on its withdrawal
I am a salaried individual with no other source of income
Kindly tell me any monthly income schemes and way to save tax on such withdraw

gaurav.investment2009@in.com

Amit [ 16Sep09]

Sir,

I am intrested to open a PPF A/c.
I am planning to pay Rs.12,000/- per year.

After 15 years which amount i can get.

and kindly send interst details to me on mt.kawade81@gmail.com.

Amit

Rekha Goel [ 18Sep09]

Rs.10000/ deposited every year for 15 years without withdrawing any money in between amounts to what after 15 years?

yogi [ 24Sep09]

i am an oci card holder,can i open ppf account in india? my contact no. 647 728 5701

P.Dhanasekaran [ 30Nov09]

dear sir/ma’am, i am investing Rs.5000/month in PPF.Please tell how much will i get after 15 years.

Shahbaz [ 14Dec09]

Great discussion is going on this blog for Banking, i’d like to join with you guys and gain knowledge from it.
Interesting perspective on this and I was wondering about ICICIBank. Thanks for tackling this case study.

mohit [ 14Dec09]

hi,
i need to know where the PPF account be opened and do i need to have an account in that bank and which all banks are there in ghaziabad area who have the PPF account
thanks

Manoj [ 15Dec09]

Hi All,

I am intrested to open a PPF A/c.

I am planning to pay Rs.15,000/- per year.

After 5 years which amount i can get.

and kindly send interst details to me

smk.manoj@gmail.com
Manoj