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PUBLIC PROVIDENT FUND SCHEME

Introductory:

A milestone ahead over other schemes in the market. PPF is not a tax savings scheme but a sound investment.

  • A subscriber can deposit any amount between Rs.500/-(minimum) and Rs. 1,50,000/-(maximum) in a financial year.
  • Current Rate of Interest Payable.
  • Loan facility is available from 3rd financial year up to 6th financial year.
  • One withdrawal is permissible every year from 7th financial year.
  • Account matures on completion of fifteen complete financial years from the end of the year in which the account was opened.
  • After maturity, account can be extended for any number of a block of 5 years with further deposits.
  • Account can be retained indefinitely without further deposits after maturity with the prevailing rate of interest.
  • Deposit may be PPF account qualified for deduction under Sec- 80 C of Income Tax Act.
  • Interest earned in PPF account is completely exempted from Income Tax under Sec-10(15 of Income tax Act).
  • The amount in the PPF account is not subject to attachment under any order or decree of a court of law.

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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
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