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21st July 2016, 04:54 PM
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Join Date: Aug 2012
Re: State Bank Of Patiala PPF Interest Rate

About the Public Provident Fund Scheme

Scheme introduced by Central Government in 1968. The Scheme enables the members of the public to make contributions to the Fund and obtain Income Tax rebate under the relevant provisions of the Income Tax.

Features :
Subscription in one or more maximum 12 instalments.

Nomination available in the name of one or more persons.

Nominee can not continue account of the deceased subscriber in his/ her own name.

An account may be transferred at the request of the subscriber free of charge by one
branch to another branch.

Premature closure of a PPF account on grounds of genuine hardship could be
considered only after the expiry of five years from the end of the year in which the
account was opened.

The subscriber may discontinue his account anytime after joining the fund. The
repayment of the subscription with interest will be made only after 15 years form the end of the financial year in which the account was opened.

Eligibility
Individuals
Individuals on behalf of a minor
Minimum/Maximum Investment
Minimum Rs.500/- per annum in multiples of Rs.5/-
Maximum Rs. 1,50,000/- per financial year

Duration
15 years
Can be extended for one or more blocks of 5 years
Account can be discontinued but repayment of subscriptions along with interest only after 15 years.
Rate of Interest
8.1% (w.e.f. 01-04-2016) per annum credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

For more details you may visit the Nearest branch of the State bank of Patiala or Contact on the Helpline number of the State bank of Patiala

the Number is as follow :

1800 180 2010


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