State Bank of Bikaner & Jaipur (SBBJ) is an associate bank of State Bank of India. The Bank was established in 1963.

Its branch network out of Rajasthan covers all the major business centres of India.

Public Provident Fund - 1968

The Scheme introduced by Central Government in 1968.

The Scheme enables the members of the public to make contributions to the Fund and obtain Income Tax rebate under the relevant provisions of the Income Tax.

Eligibility-

Individuals

Individuals on behalf of a minor

Minimum / Maximum Investment ( w.e.f. 01.12.2011 )

Minimum 500/- per annum in multiples of 5/-

Maximum 100,000/- per annum

Duration - 15 years

Can be extended for one or more blocks of 5 years

Account can be discontinued but repayment of subscriptions along with interest only after 15 years.

Rate of Interest

8.80 % per annum effective from 01.04.2012 credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

Loans-

Loan upto 25% of balance at the end of first financial year from third to sixth year

Second loan can be taken on full payment of first loan.

Withdrawals-

Only one withdrawal allowed during any one year from sixth year.

Withdrawal limited to 50% of the balance at the credit at the end of 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.

The account extended beyond 15 years; partial withdrawal allowed up to 60% of the balance to the credit at the commencement of the extended period.

Tax Benefits-

Benefit available u/s 80 C of the I.T. Act

Interest totally exempt from Income Tax

Amount standing to the credit is fully exempted from Wealth Tax.

Subscription in one or more maximum 12 instalments

Nomination available in the name of one or more persons

Contact address

State Bank of Bikaner and Jaipur,
Head Office, Tilak Marg,
Jaipur - 302005.
Phone: 0141- 5101570
Telefax: 0141- 2227165