| 1. Who can invest? |
- An individual (Above 18 years)
- A guardian on behalf of a minor.
|
| 2. How much to invest ? |
- Minimum - Rs. 500/-
- Maximum - Rs. 70,000/- in a financial year.
|
| 3. Where to Invest ? |
any head post office/Selection grade sub post office and
approved nationalised banks. |
| 4. Rate of Interest |
8.0 % per annum. |
| 5. Duration |
15 years |
| 6. Withdrawals |
Loan :-
From 3rd year to 6th year upto 25% of the amount
available in the preceeding second year.
Final :-
- One withdrawal during any one year at any time after 6 year.
- The amount of withdrawal is limited to 50% of the balance at credit at the end of 4th year immediately preceding the year in which the amount is withdrawn or at the end of the preceding year whichever is lower.
|
| 7. Nomination facility |
Available |
| 8. Tax benefits |
- Rebate on investment U/S 80C of I.T. Act 1961
- Interest income fully expemted from income tax.
- Balance held in the P.P.F. account is completely free from wealth Tax.
|
| 9. Other benefits |
The balances in the account cannot be attached by any
authority normally. |
| 10. Extension of account |
Account may be extended for any block period of five
years
|
