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June 16th, 2016, 12:02 PM
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Union Bank of India PPF Branches

Hi I am interested in knowing what PPF account with Union Bank of India is as well as the eligibility to open the Union Bank of India PPF at the branches of the bank?

The Union Bank of India PPF record is a legislature supported investment funds store plot that offers a scope of advantages including high financing cost and tax cuts. This record is implied for people just and offers charge free enthusiasm to clients. Union Bank of India PPF record can be opened for a base residency of 15 years and can be opened at select branches of the bank the nation over.

How to open Union Bank of India PPF account online?


As of now, the Union Bank of India does not give online record opening office to PPF accounts. You can in any case approach the pre-recorded branches which acknowledge applications for PPF accounts and finish the conventions to have your own particular record inside a brief span. Notwithstanding, in the event that you have an investment account in Union Bank with web saving money administration empowered, you might have the capacity to download the application shape and top it off and submit it to the pertinent branch.

Documentation required to open Union Bank of India PPF account


Clients need to submit insignificant records while opening a PPF account in Union Bank. The real prerequisites include:

Filled in record application structure.

ID verification, for example, PAN card, driving permit, visa, Aadhar card, voters' ID and so on.

Address evidence, for example, phone charge, proportion card, power bill and so forth.

Pay-in slip.

Union Bank of India PPF account opening structure

The record opening structure can be gathered from the recorded branches of Union Bank. The structure regularly comprises of the accompanying fields, however you might be required to outfit less or more data according to the most recent structure.

Name
Address
Skillet card subtle elements
Branch name
Introductory asset esteem
Charge account points of interest
Standing directions

Union Bank of India PPF standards and rules

Real standards and rules overseeing Union Bank PPF records are:

Span of Union Bank PPF plan: The record can be opened for a base residency of 15 years, which can be extended in sections of 5 years.

Qualification: Individuals can open this record, in any case they ought to guarantee this is the main PPF account in their name. Shared services are not allowed. Minors can have this record if normal or legitimate watchman backs them for it.

Withdrawals: No withdrawal is permitted till the culmination of fifth year of record commencement. After the fifth year, incomplete withdrawals are permitted. Full withdrawal must be made after fruition of the fifteenth year.

Venture constrain: The base add up to open the record is Rs.100, however Rs.500 must be kept up in a year to win interests and not gather punishments. The greatest venture point of confinement is Rs.1.5 lakhs.

Last edited by Neelurk; March 17th, 2020 at 10:31 AM.
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