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15
Years Public Provident Fund (PPF) |
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The account can be opened Individually,
As a Karta of Hindu Undivided Family, As a guadian
of a minor and on behalf of Association of Persons
or Body of individuals.
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Common Bhavishyanidhi Account
holder can also open P.P.F account.
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Total amount can be withdrawn
after 15 years.
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Totally Tax free 8% interest.
( Subject to revision )
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During financial year investment
from Rs 500/- to Rs. 70,000/- at a time or investment
in maximum 12 installments.
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The account can be started in
any Head Post Office or its Sub Post Office in Gujarat,
State Bank Of India or its branch or any Authorised
Nationalised Bank’s appointed branch.
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After seven financial years
of opening the account every year withdrawal can
be done once. But the witdrawal amount.
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After three financial years
of opening the account, 25% loan on the amount deposited
in the first year can be availed.
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On account holder’s request,
the account can be transferred from one post office
to the other or from Post Office to Bank or from
Bank to the Post Office.
- After 15 years full amount can be withdrawn on
maturity. After this period the account can be extended
for every five years.
- After extending the account in every block of five
years, every year once the withdrawal can be made.
But during this block period, withdrawal amount will
be 60% amount of the value that was available at the
time of starting that block.
- Nominee can be appointed.
- In the event of death of the account holder immediate
disbursement.
- Closed account can be reopened after paying due
installments.
- Amount deposited in the account is free from Courts
Attachment.
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COMMISSION : 0.50% |
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