CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Minimum Deposit Amount
Rs. 500 per annum
Maximum Deposit Amount
Rs. 1.5 lakhs per annum
From 01.04.2020, the interest rate is at
7.1% per annum (compounded every year)
Available after 5 years from the end of the year in which the account was opened subject to certain conditions
About Post Office - Public Provident Fund Account (PPF)
The Indian Postal System is the heart of the country's mail and parcel delivery systems. A few decades back, it was one of the most commonly used public service systems. Using this mechanism, the government established a number of savings programmes to help the rural and economically disadvantaged members of society save regularly.
Post Office Savings Back Account, Post Office Term Deposits, Public Provident Fund Account (PPF), Post Office Recurring Deposits, National Savings Certificate (NSC), Kisan Vikas Patra (KVP), and the latest Sukanya Samriddhi Yojana (SSY), are some of the popular savings schemes offered through India Post Offices.
The Post Office Public Provident Fund is a common investment scheme among investors because of its many investor-friendly features and associated benefits. It's a long-term investing scheme that appeals to those who want to build a considerable corpus while maintaining a steady income. Individuals who open a PPF account are mostly low risk takers and are primarily concerned with the safety of their principal.
Since it is a scheme supported by the Government of India, the interest rate on PPF accounts is fixed uniformly for all post offices and banks that provide the service. The current post office PPF interest rate is 7.1% (Q1 FY 2021-22).
This scheme is perfect for anyone with a lower risk tolerance. Since the government mandated this scheme, it is backed up by assured returns to meet the financial needs of the Indian people. Furthermore, the assets deposited in the PPF portfolio are not market-linked.
Investors may also invest in the public provident fund system in order to diversify their investment - related portfolio. PPF accounts will help you preserve your investments through any kind of recession in the economy.
The Post Office PPF account comes with various monetary and tax savings benefits to the investor. Here are a few of them:
This scheme is open to all Indian citizens who fulfil the following conditions:
Post Office Public Provident Fund Account is known to earn one of the highest interest rates across all savings schemes. This scheme is backed by the government and hence comes with a fixed interest rate across all post offices in the country. Also, this interest rate is reviewed and updated periodically to give the best returns to the investors.
This account matures after 15 years. Upon maturity, the investor has the following options:
Since you're putting a lot of money into this account, it should be easy to get to when you need it. To facilitate this, one partial withdrawal from the account is permitted every five years, excluding the year in which the account was opened. The amount of withdrawal is limited to 50% of the credit balance at the end of the fourth preceding year or the end of the preceding year, whichever is lower.
Upon completing 5 years from the end of the year in which the account was opened, the account can be prematurely closed under the following circumstances.
In case of premature death of the account holder,
The PPF Account can be opened at any of your nearest post office.
1. Is there an option to open Post Office PPF Account online?
Currently, there is no option to open a PPF Account online at your post office. But online PPF Accounts are available through your bank’s website.
2. What is the penalty for premature closure of Post Office PPF Account?
In the event of an early closing, 1% interest will be deducted from the date of account opening/extension, as applicable.
3. Will I get assured returns from my Post Office PPF Account?
There is no guaranteed maturity amount in this scheme. However, the scheme is backed by the government and assures the safety of your principal amount. It also gives one of the highest interest rates in the market.
4. Can I take the Post Office PPF account for a tenure lesser than 15 years?
No, the scheme comes with a fixed term of 15 years. You can go for a partial withdrawal once in a financial year to meet any emergency needs.
5. Can I transfer my post office PPF account from one post office to another?
Yes, you can transfer your PPF account across any post office in India.
Kisan Vikas Patra
National Savings Recurring Deposit Account
Post Office Interest Rates