PPF account in SBI, Post office, other banks

Last Updated : Sep 1, 2023
  • Home
  • PPF Account In SBI - Post Office

Requirements to PPF Account in Bank and Post Office

  • You can open an account with any nationalized bank ( State Bank Of India (SBI), Punjab National Bank, Centeral Bank of India) or post office or some authorized private banks (ICICI Bank, HDFC Bank, Axis Bank etc.).
  • A minimum yearly deposit of Rs. 500 is required to open and maintain a PPF account.
  • You can deposit a maximum amount of Rs. 150,000 lacs in your PPF account. Any amount deposited in excess of Rs. 150,000 lacs in a financial year will not earn any interest. You can deposit the amount in lump sum or in maximum of 12 installments in a year.
  • After the lock-in period of 15 years subscriber can be withdrawn full amount after its maturity period.
  • Interest earned on PPF account is tax exempted and principal amount is subject to tax deductions under section 80c of income tax act. Interest rate on PPF is compounded annually.


Disclaimer : We DO NOT offer any financial advice here. The website's content should only be used for informational purpose. By using this website user is agree that the authors and website are not responsible or liable, directly or indirectly for any losses incurred through this website.