​​​​​​Post Office Saving Schemes

Post Office Saving Schemes

Public Provident Fund Account

  • Deposits can be made in lump-sum or in 12 installments.
  • Joint account cannot be opened.
  • Account can be opened by cash/ Cheque and In case of Cheque, the date of realization of C​heque in Govt. account shall be date of opening of account.
  • Nomination facility is available at the time of opening and also after opening of account. Account can be transferred from one post office to another.​​​
  • The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts.
  • Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on.
  • Maturity value can be retained without extension and without further deposits also.
  • Premature closure is not allowed before 15 years.
  • Deposits qualify for deduction from income under Sec. 80C of IT Act.
  • Interest is completely tax-free.
  • Withdrawal is permissible every year from 7th financial year from the year of opening account.
  • Loan facility available from 3rd financial year.

No attachment under court decree order.

  • The PPF account can be opened in a Post Office which is Double handed and above.

From 1.04.2017, interest rates are as follows:- 7.9% per annum (compounded yearly).

PPF Account details
​Type of AccountMinimum Amount for OpeningMinimum DepositMaximum Deposit
Public Provident Fund(Individual account on his behalf or on behalf of minor of whom he is the guardian) INR 100/-INR. 500/- in a financial year INR. 1,50,000/- in a financial year