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3rd January 2016, 02:15 PM
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Join Date: May 2012
Re: PPF Online Payment Bank of Baroda

Bank of Baroda operates PPF Scheme across its network of select -1077- branches all over India.

Eligibility Criteria:
Any adult in his / her name or in minor's name in the capacity of guardian of the minor
HUF and NRIs cannot open PPF account.

Minimum amount

Rs. 500/- per annum is required to be deposited.


Maximum amount

Rs. 1.5 Lacs per annum (FY 2014-15)
The depositor has flexibility and freedom for depositing any amount in a maximum of 12 installments in a financial year.


Maturity period

15 years
An Account, on the expiry of fifteen years, can be extended for a further period of five years at a time.


Interest Rate

The interest is paid as per the rates declared by the Government from time to time.
The interest has revised to 8.70% w.e.f. 01.04.2013.
The interest is compounded annually.
The interest for the month is calculated on the minimum balance available in the account from 5th of a month to the last date of the month.
In case of cheques drawn on other Banks date of realisation of the cheque shall be the date of deposit

.
Facilities Available:

Nomination facility
Transferability
Loan facility
Withdrawal facility


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