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Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Rate of Interest
Can be opened at any age by any resident Indian (HUFs and NRIs not allowed)
Facility available for maximum 4 nominations
Tax deduction u/s 80C up to Rs. 1,50,000
Minimum Deposit amount
Maximum deposit amount
About Axis Bank PPF Account
All Indian residents are eligible to open a PPF account. The scheme also has no age-related restrictions for investment in PPF accounts. Eligible applicants can invest in the scheme at any time during the year at any age. The other details pertaining to the eligibility under PPF accounts are provided below.
The documents required to open a PPF account with the bank are,
Axis Bank does not have an online facility to open a PPF account. The investor has to physically visit the nearest authorized branch of the bank in order to open a PPF account. The list of KYC documents mentioned above has to be mandatorily submitted by the investor at the time of application for the PPF account. The procedure for opening a PPF account is detailed hereunder.
Post opening the PPF account, the investors can check the balance in their PPF accounts either through the online mode available with the bank or through the offline mode i.e., by physically visiting the branch of the bank.
Investors can access the PPF passbook via online mode through the bank’s Net Banking portal in the following manner.
In order to check the PPF account balance via offline mode, the investor has to physically visit the branch of the bank and get the PPF passbook updated. The investors can then access all the transactions as well as the balance available in the account.
According to the PPF scheme, the deposit limits under PPF during any financial year are,
Investment in PPF account can be made via any of the following ways
Another key point in depositing an amount in a PPF account is that the investor can deposit in the PPF account in a single lump-sum contribution or through installments during a particular year.
The deposit limits pertaining to such installments are that they cannot exceed
The investor is allowed withdrawal from his/her PPF account only up on the maturity of the account i.e. after the completion of 15 years.
Upon maturity of the account, the investor can withdraw the entire amount along with the interest accrued up on such investment without any tax implications. Withdrawal at the time of maturity is eligible for tax exemption under the provisions of the Income Tax Act, 1961.
The scheme also allows partial withdrawals from the PPF account after the 7th year. The investor can make one withdrawal per year thereafter. The amount of such premature withdrawals from the PPF account is limited to the extent of 50% of the balance available under the PPF account at the end of 4th year.
The bank allows early withdrawal from the PPF account only under certain specific circumstances such as,
Customers/investors having their PPF accounts with Axis Bank can contact the bank for any information or queries regarding the PPF account as well as address any grievances or complaints that they may have in such cases. The various channels to contact the bank are given below.
Toll free number – 1800 419 5959 (for account balance)/ 180 419 6969 (for mini statement)
Postal address – Axis Bank Limited
Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg,
Mumbai – 400025
Phone – 022 – 24252525
Public Provident Fund is a government backed savings scheme introduced by the government in the year 1968 and regulated by the National Savings Institute of the Ministry of Finance. PPF was introduced with the aim to provide retirement benefits to the citizens of the country and to help them in their need of financial assistance. The investment in PPF is a government assured investment that provides assured and fixed returns on the investment with fixed tenure. It also has the option for the investors to extend their investment beyond the stipulated period subject to certain conditions. Such features along with various other benefits make it a favoured investments option across all the categories of investors especially those who are risk averse.
Axis Bank is a leading private sector bank of the country and one of the few authorized private sector banks that has the facility to open a PPF account. PPF accounts opened with the bank are governed by the Public Provident Fund Scheme 2019.
1. When can a person withdraw from the PPF account?
A person can withdraw from the PPF account only after the completion of 7 years from the date of stating the account.
2. What is the amount of loan that a person can avail against the PPF account?
The amount of loan that a person can avail against his/her PPF account is up to 25% of the balance available in the account at the end of 2nd year from opening the account.
3. Can a person open a joint account in the name of an HUF?
HUFs are not eligible to open a PPF account according to the scheme.
4. Can a person change the nomination of his/her PPF account?
A person can change the nomination on the PPF account multiple times as well as the percentage of nomination in case of more than one nominee.
5. What is the form number for change in nomination?
The investor can change the nomination of the PPF account by filling and submitting Form G in this regard.
Usefulness of information,
Allahabad Bank PPF Account
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Bank Of Baroda PPF Account
Bank Of India PPF Account
Bank Of Maharashtra PPF Account
Canara Bank PPF Account
Central Bank Of India PPF Account
Deposit Limit Of PPF
How To Change Nominee Name In PPF
ICICI Bank PPF Account
IDBI Bank PPF
Indian Overseas Bank PPF Account
Investment On PPF
PPF Account Balance
PPF Account For NRI
PPF Account Opening Banks
PPF Account Opening Form
PPF Account Transfer
PPF Age Limit
PPF Closure Form
PPF Death Claim Form
PPF Interest Rate
PPF Lock In Period
PPF Premature Withdrawal
PPF Withdrawal Rules
Punjab And Sind Bank PPF Account
SBI PPF Account
UCO Bank PPF Account
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