#1
9th December 2016, 10:03 AM
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PPF Central Bank Of India
Hello sir, which documents are needed for to open a public profit fund account in Central Bank Of India?
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#2
9th December 2016, 10:44 AM
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Re: PPF Central Bank Of India
The Central Bank of India is provides facility to open A Public Provident Fund account among the best savings-cum-tax-savings bank accounts in which you could park and grow your funds with tax-free compounding interest. The PPF scheme was introduced in 1968 and offers a way to save on tax and earn a decent rate of interest with which to secure your finances in the long run. Documents required opening PPF account in the Central Bank of India: Account opening form – Form A. Pay-In slip – Form B. Nomination form – Form E Identity proof – Submit a copy of your driver’s license, PAN card, passport, etc. with the original to verify. Address proof – Submit a copy of your telephone bill, utilities bill, ownership papers, etc. along with the original to verify. Passport sized photographs – Two recent passport sized photographs are required. Eligibility: The PPF account is available only to resident Indians who are over the age of 18. Guardians can open PPF accounts for minors. Duration: The account matures after a 15 year lock-in, and all accumulated funds in the account can be withdrawn upon maturity. Extensions are allowed in blocks of 5 years at a time. Accounts can be kept open after maturity for any period without making deposits, the balance will continue to earn interest. The PPF interest rate is 8.7% Detail of interest calculator: Rate of deposits - monthly/quarterly/half-yearly/annually Amount being deposited PPF account tenure Interest rate (currently at 8.7%) |