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June 21st, 2016, 03:16 PM
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Join Date: Mar 2013
State Bank Of Patiala PPF Calculator

Hello sir, I am Ramesh. I want you to help me by giving me some information about the State bank of Patiala Public Provident Fund (PPF) calculator or interest rates and other details. Can you give me some details about it?

As you have asked about the State bank of Patiala Public Provident Fund (PPF) calculator or interest rates and other details, I am giving you information about it, check below for the details

Eligibility

Individuals
Individuals on behalf of a minor

Rate of Interest
8.1% (w.e.f. 01-04-2016) per annum credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

Minimum/Maximum Investment

Minimum Rs.500/- per annum in multiples of Rs.5/-
Maximum Rs. 1,50,000/- per financial year

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

Tax Benefits
Benefit available u/s 88 of the I.T. Act.
Interest totally exempt from Income Tax
Amount standing to the credit is fully exempted from Wealth Tax.

Other Facilities
Subscription in one or more maximum 12 instalments
Nomination available in the name of one or more persons
Nominee can not continue account of the deceased subscriber in his/ her own name.

Last edited by Neelurk; May 21st, 2020 at 01:58 PM.
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