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#1
August 31st, 2017, 11:26 AM
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| Open PPF Account in Union Bank of India
I am looking for information about Public Provident Fund (PPF) Account at Union Bank of India. Actually my father wants to Open Public Provident Fund (PPF) Account in this Bank. So someone is here who will provide information about this type of Account from Union Bank of India?
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#2
August 31st, 2017, 11:34 AM
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| Re: Open PPF Account in Union Bank of India
As you want to know about Public Provident Fund (PPF) Account in Union Bank of India, so here I am providing following information: Union Bank of India: Public Provident Fund (PPF) Account ELIGIBILITY TO OPEN PPF ACCOUNT The scheme is open to individual and account can also be opened on behalf minor child as a natural / legal guardian. SUBSCRIPTION Minimum amount Rs100/- and maximum Rs150000/- PERIOD Minimum period is 15 years and can be extended in a block of 5 years. RATE OF INTEREST Presently, 8.7% p.a. however, subject to change as per Govt. Notification from time to time. WITHDRAWAL FROM THE FUND Partial withdrawals are allowed after the expiry of 5 financial years. Entire amount can be withdrawn after completion of 15 years. NOMINATION Nominations of one or more persons are allowed except in the account opened on behalf of the minors. PREMATURE WITHDRAWAL No withdrawal is permitted before the expiry of 5 years. TAX CONCESSIONS Deposits in the account are exempted under section 80-C of Income Tax Act Helpline: Tel.No: 022-2289-6680. Email Address: narayankhopale@unionbankofindia.com |
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