Public Provident Fund | This Public Provident Fund is not only a scheme, it also has many benefits and according to other schemes, along with giving more interest (Extra Interest) as well as tax free scheme, this (Public) Provident Fund) scheme has been started. In this, the responsibility of keeping the deposit amount completely safe rests with the post office and the bank, after investing in it, you do not have to take any kind of tension. No age has been fixed for opening an account under this Public Provident Fund.
Public Provident Fund: Know what is Public Provident Fund Scheme (PPF)
Do you have a bank account in the post office, if yes, then through this PPF scheme, you can do the transactions done in the post office online while sitting at home. In this, you can check the balance of your bank sitting at home and you can transfer money as well, for this you will not need to go to the post office. Recurring deposit, public provident fund, Sukanya Samriddhi account are included under some of the popular post office deposit schemes.
PPF Account: Documents Required to Open a PPF Account
- PPF (Public Provident Fund) account opening form. (Form 1)
- 02 passport size photo
- Aadhar Card
- pan card
- Address proof
Key Features of PPF Account
- Under this scheme, a person can open an account in only one name, in which the facility of opening a joint account is not given.
- PPF account is opened for 15 years. Account closure can be allowed before maturity (15 years) only in some necessary circumstances. Such as for higher education of children, treatment of serious illness etc.
- A child’s account can be opened by depositing a minimum amount of Rs 100/- in PPF account (PPF).
- In this, many post offices and banks also provide the facility to open accounts online.
- Under this (Public Provident Fund) scheme, the account is opened in the name of the child, but until the child is more than 18 years of age, the account is operated by the parents.
Many banks provide facility to open PPF account online
Many banks including leading private banks like HDFC Bank, Axis Bank, Leading Private Bank and Canara Bank also provide the facility to apply online to open an account in this scheme. So you will have to go to the bank and not have to face much trouble. In whichever bank you want to open a PPF account, then you can apply through the official website of that bank or through the official application of the bank, you can open an account in Public Provident Fund.
Loan facility in PPF account
Public Provident Fund If your bank account has been opened under this scheme, then you can also take out a loan from the bank or post office, but you can avail this loan from the bank only in the third year of account opening or in the sixth year. is. The benefit of this loan is the most for those who want to get a loan from the bank for a very short period.
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