Provident Fund Schemes 1968
You can open a Public Provident Fund Scheme (PPFS) 1968 account at any of our semi-urban, urban and metro branches. PPFS offers safety coupled with high returns and tax benefits. A long term scheme of 15 years with the investment in equated Instalments is available, which attracts an interest of 8% p.a. The interest is calculated on the minimum balance between the 5th and 30th of each month.
You can invest a maximum of `70000.p.a. The minimum investment in this scheme is `500 p.a. The scheme offers you to transfer the accounts among any of the authorized branches. Nomination facility available All investments in this scheme are exempted from income tax under Section 88.
