#1
3rd January 2016, 02:14 PM
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PPF Online Payment Bank of Baroda
Hello sir I am Arjun and I want to open a PPF Account in Bank of Baroda for doing online payment so please provide me details related to PPF Scheme of this Bank??
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#2
3rd January 2016, 02:15 PM
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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 |