Bank of Baroda operates Public Provident Fund PPF 1968 Scheme across its network of select -1077- branches all over India.

Public Provident Fund 1968 Scheme

Eligibility

Any adult in his / her name or in minor's name in the capacity of guardian of the minor

HUF and NRIs cannot open PPF account.

Minimum amount-

Rs. 500/- per annum is required to be deposited.

The accounts in which deposits are not made for any reason are treated as discontinued accounts and such accounts cannot be closed before maturity.

The discontinued account can be activated by payment of the minimum deposit of Rs.500/- with default fee of Rs.50/- for each defaulted year.

Maximum amount-

Rs. 1.5 Lacs per annum (FY 2014-15).

The depositor has flexibility and freedom for depositing any amount in a maximum of 12 installments in a financial year.

Maturity period-

15 years.
An Account, on the expiry of fifteen years, can be extended for a further period of five years at a time.

Interest Rate-

The interest has revised to 8.70% w.e.f. 01.04.2013.

The interest is compounded annually.

The interest is paid as per the rates declared by the Government from time to time.

Nomination facility-
Available

Tax benefits-
Interest income is totally tax free.

Deposit at any Branch of Bank-
The PPF account holders can deposit subscription at any branch of the Bank.

Bank of Baroda Customers no 1800 22 33 44