PPF Withdrawal Form SBBJ

Sir I have a Public Provident Fund account with the SBBJ bank so can you please tell me that what is the withdrawal policy of the bank

[pawan]

Public Provident Fund Withdrawals Policy of SSB

You will be having only one withdrawal during any one year from sixth year.

Withdrawal limited to 50% of the balance at the credit at the end of 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.

The account extended beyond 15 years; partial withdrawal allowed up to 60% of the balance

Interest Rate

8.80 % per annum effective from 01.04.2012 credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

Minimum / Maximum Investment ( w.e.f. 01.12.2011 )

Minimum 500/- per annum in multiples of 5/-

Maximum 100,000/- per annum

Duration

15 years

Tax Benefits

Benefit available u/s 80 C of the I.T. Act

Interest totally exempt from Income Tax.

Amount standing to the credit is fully exempted from Wealth Tax


PPF Eligibility

Individuals

Individuals on behalf of a minor

SBBJ Contact Details

Toll Free Number 18001806005

In case of inconvenience

SMS UNHAPPY to 8233101101