| 1. Duration |
15 years |
| 2. Rate
of Interest |
8 % per annum. |
| 3. Where
to invest ? |
any head post office/Selection
grade sub post office and approved nationalised banks. |
| 4. Who
can invest ? |
(i). An individual (Above 18
years)
(ii). Hindu undivided family.
(iii). A guardian on behalf of a minor. |
| 5. How
much to invest ? |
Minimum - Rs. 500/-
Maximum - Rs. 70,000/- in a financial year. |
| 6. Withdrawl |
Loan :- From 3rd year to 6th year upto 25%
of the amount available in the preceeding second year.
Final :-
(i). One withdrawal during any one year at any time after 6
year.
(ii). The amount of withdrawal is limited to 50% of the balance
at credit at the end of 4th year immediately preceding the
year in which the amount is withdrawn or at the end of the
preceding year whichever is lower. |
| 7. Nomination
facility |
Available |
| 8. Tax
benefits |
(i) Rebate on investment
U/S 80C of I.T. Act 1961
(ii). Interest income fully expempted from income
tax.
(iii). Balance held in the P.P.F. account is completely free
from wealth Tax. |
| 9. Other benefits |
The balances in the account cannot be attached
by any authority normally. |
| 10. Extention of account |
Account may be extended for any block period
of five years |
