How to Open a PPF account at SBI Bank

Check out a article by Manish Chauhan on what are steps which are required for opening a PPF account.

Manish has explained in a nice any in a very easy manner.

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Manish Chauhan is the chief blogger and Founder of Jagoinvestor.com . He has authored hundreds of articles and have answered over 20,000 queries in last 3 yrs. He is the front face of jagoinvestor and has been actively involved in understanding Indian investor psychology and thier needs when it comes to Personal Finance.

Things to Complete before you become NRI

Are you leaving India in next few months or planning to move abroad sometime in future? Then you should be clear with a few points you should complete before you become an NRI. A lot of NRI readers come up with various issues they face, because they never thought about completing few tasks which could have saved them from lots of worries and paperwork. Lets look at 10 things which a person should complete before he/she becomes a NRI (Non resident Indian)

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Post Office - Public Provident Fund Account (PPF)

• Ideal investment option for both salaried as well as self employed classes.

• Non-Resident Indians (NRIs) are not eligible.

• Investment up to INR. 1,00,000 per annum qualifies for IT Rebate under section 80 C of IT Act.

• The rate of interest on the subscriptions made to the fund on or after 01.12.2011 and balances at credit of the subscriber in the existing PPF account shall bear interest at the rate of eight point eight per cent (8.80%) per annum.

• Loan facility available from 3rd financial year upto 5th financial year. The rate of interest charged on loan taken by the subscriber of a PPF account on or after 01.12.2011 shall be 2% p.a. However, the rate of interest of 1% p.a. shall continue to be charged on the loans already taken or taken up to 30.11.2011.

• Withdrawal permitted from 6th financial year.

• Free from court attachment.

• An individual cannot invest on behalf of HUF (Hindu Undivided Family) or Association of persons.

Public Provident Fund Acts

Public Provident Fund Rules