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Public Provident Fund

Scheme introduced by Central Government in 1968. The Scheme enables the members of the public to make contributions to the Fund and obtain Income Tax rebate under the relevant provisions of the Income Tax.

  • Individuals
  • Individuals on behalf of a minor

Minimum / Maximum Investment ( w.e.f. 01-12-2011 )

  • Minimum Rs.500/- per annum in multiples of Rs.5/-
  • Maximum Rs.100,000/- per annum

  • 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.

8.7% (w.e.f. 01-04-2013) per annum credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

Loan upto 25% of balance at the end of first financial year from third to sixth year. Second loan can be taken on full payment of first loan.

Only one withdrawal allowed during any one year from sixth year. Withdrawal limited to 50% of the balance at the credit at the end of 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.

The account extended beyond 15 years; partial withdrawal allowed up to 60% of the balance to the credit at the commencement of the extended period.

  • 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.

Andhra Pradesh
Secunderabad - M.G. Road Branch

Gujarat
Gandhinagar and Gandhidham Branches

Karnataka
Bangalore-IFB and Mangalore Punja Arcade Branches

Kerala
Thiruvananthapuram Main Brannch

Tamil Nadu
Coimbatore-IFB

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