travelopf.blogg.se - Sbi bank ppf account form download

In case of an account opened on behalf of a minor or a person of unsound mind, the guardian may apply for the loan for the benefit of the minor or the person of unsound mind.Īn account holder shall not be entitled to get a fresh loan so long as earlier loan has not been repaid in full together with interest thereon. Even in the case of death of a depositor, the nominee cannot continue the account.Īt any time after the expiry of 1 year from the end of the year in which the initial subscription was made but before expiry of 5 years from the end of the year in which the initial subscription was made, the account holder may, apply for obtaining a loan consisting of a sum not exceeding 25% of the amount that stood to credit at the end of the second year immediately preceding the year in which the loan is applied for.

In case of cheques drawn on other banks date of realisation of the cheque shall be the date of deposit.Ī PPF account can be transferred from a branch of an authorised bank to post office and vice versa and also from a branch of the bank to another branch.Ī PPF account cannot be transferred from one person to another.

The interest for the month is calculated on the minimum balance available in the account from fifth of a month to the last date of the month.

Interest for the quarter to is 7.1 % p.a.

The interest is paid as per the rates declared by the Government from time to time.

An account, on the expiry of fifteen years, can be extended for a further period of five years at a time. The deposit in the account may be made in the account in one lump sum or in instalments.ġ5 years. The discontinued account can be activated by payment of the minimum deposit of Rs.

The accounts in which deposits are not made for any reason are treated as discontinued accounts and such accounts cannot be closed before maturity. 500 per annum is required to be deposited. HUF and NRIs cannot open PPF account.Įxisting customers having PPF account with Bank of Baroda can deposit online in PPF account from Bank of Baroda savings account. Any adult in his/her name or in minor's a person of unsound mind’s name in the capacity of guardian.