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  #2  
3rd January 2016, 09:33 AM
Unregistered
Guest
 
Re: Union Bank Of India PPF Account

Hello sir I want to know the eligibility to open the PPF Account in Union Bank Of India , because I have to open ?
  #3  
3rd January 2016, 09:38 AM
Super Moderator
 
Join Date: Apr 2013
Re: Union Bank Of India PPF Account

PPF Account is called as Public Provident Fund Account.

PPF scheme originated back in 1968.

This scheme developed by Central Government of India to benefit the command man and small business people, freelancers and even students.

Since then many Indians have made use of this scheme to get huge benefits and tax savings.

As you want to know the eligibility to open the PPF Account in Union Bank Of India

Here is the eligibility-

Public Provident Fund ELIGIBLITY is -

This scheme is open to individual and account can also be opened on behalf minor child as a natural / legal guardian.

SUBSCRIPTION-
Minimum amount should be Rs100/- and maximum Rs150000/-

PERIOD-
Minimum period is 15 years and can be extended in a block of 5 years.

RATE OF INTEREST-
Presently, 8.7% p.a. however, subject to change as per Govt. Notification from time to time.

WITHDRAWAL FROM THE FUND-
Partial withdrawals are allowed after the expiry of 5 financial years. Entire amount may be withdrawn after completion of 15 years.

LOANS-
After the expiry of one year but before the expiry of 5 years from the end of the year in which initial subscription was made, a loan of 25% of the credit balance at the end of the second year immediately preceding the year in which the loan is applied may be availed of by the subscriber.

NOMINATION-
Nominations of one or more persons are allowed except in the account opened on behalf of the minors.

PREMATURE WITHDRAWAL-
No withdrawal is permitted before the expiry of 5 years.

TAX CONCESSIONS-
Deposits in the account are exempted under section 80-C of Income Tax Act

In case of difficulty you can make a call to -
Mr. Narayan Khopale, Senior Manager .
Tel.No 022-2289-6680.
Email Address: narayankhopale@unionbankofindia.com

If you want to get more information of Union Bank of India’s branches then visit on the official website of Union Bank of India.

When you will go on the official site

on the right top side you will get the option of show

Then you have to click it

Then you will get option of branch & ATM locater then you have to click it

Then you will move on a new page which will look like this image

Union Bank of India branches locater



at here you can get more information about Union Bank of India branches
  #4  
4th September 2019, 02:23 PM
bishal dutta
Guest
 
Re: Union Bank Of India PPF Account

get your new bank account insrantly no minimum balance commitement


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