Public Provident Fund (PPF)

Details, terms, Interest Rates, calculator, form, faq, Post office,SBI

Interest Rates

Period during which opened		Minimum Amount of Deposit in a year (in Rs)	Maximum Amount of Deposit in a year (in Rs.)	Rate of Interest
From	To	Minimum Amount of Deposit in a year (in Rs)	Maximum Amount of Deposit in a year (in Rs.)	Rate of Interest
01.04.1986	14.01.2000	100	60,000	12.0 %
15.01.2000	28.02.2001	100	60,000	11.0 %
01.03.2001	28.02.2002	100	60,000	9.5 %
01.03.2002	14.11.2002	100	60,000	9.0 %
15.11.2002	28.03.2003	500	70,000	9.0 %
01.03.2003	onwards	500	70,000	8.0 %

Features

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Only one account can be opened in the name of a person.
Twelve deposits can be made in a financial year.
Minimum deposits in a year is Rs.500 and maximum is Rs. 70,000/-.
Loan is admissible from the third year. Loan amount is limited to 25 % of at the end of two years preceding.
Fresh loan is not allowed when previous loan or interest thereof is outstanding.
Interest is charged at the rate of 1% if prepaid within 36 months and at 6% on the outstanding loan after 36 months.
Withdrawal is permissible from seventh financial year from the year of opening, limited to one in a financial year.
Amount of withdrawal is limited to 50 % of balance at the end of the fourth preceding year less amount of outstanding loan or 50% of balance at the end of immediate preceding year of withdrawal less amount of outstanding loan, if any whichever is less.
A subscriber can close the account in the 16^th financial year. The account can also be continued with or without subscription, for further blocks of 5 years.
Deposits are qualified for Income Tax rebate under section 88 of Income Tax Act.
Deposits completely exempted from wealth tax. Interest is completely tax free under section 80 of IncomeTax Act.