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About PPF Online Payment
The various modes that an investor can use to make payments towards PPF are as mentioned below:
There are some online PPF payment rules that you need to keep in mind if you are planning to make online payments into your PPF account. Some of these are:
There could be times when you miss your PPF payment. Some of the common reasons for missed PPF payments could be:
A minimum annual deposit of Rs. 500 is required to retain PPF account, else it will lead to account deactivation. In such cases, you can reactivate the account by paying a penalty of Rs. 50 plus Rs. 500 for each year you have missed the minimum PPF payment amount requirement.
Public Provident Fund or PPF is a low risk fixed return investment scheme one can avail through India Post Office as well as leading public and private sector banks in India. The interest on the PPF account is set for every quarter and is paid by the government. The applicable interest rate on PPF for the first quarter of the year, 2021-22 i.e. from 1st April 2021 to 30th June 2021has been fixed at 7.1% per annum. The interest rate for the previous quarter was also the same, i.e. 7.1% per annum.
Investors can now use different online modes to make payments into their PPF account. Online PPF payments can be made only if you have an account in a public or private sector bank. The facility is not available to those who have opened their PPF account with India Post Office. ECS Mandates, NEFT and Standing Instructions are the various methods you can use to make PPF payments. Many leading banks such as SBI, HDFC Bank, Axis Bank, ICICI Bank and Bank of Baroda support online payments.
1. Is it possible to transfer a PPF account?
Yes, transferring a PPF account from one account office to another is possible.
2. What are documents that are required to open a PPF account?
Given below is the list of documents that are required to open a PPF account:
3. Can I withdraw PPF after 5 years?
The Government has lately amended the PPF scheme and propagated some positive changes regarding the withdrawal of balance from the account. You can now withdraw the whole amount and close your PPF after 5-years.
4. Is it mandatory to submit Aadhaar details to open a PPF account?
Submitting Aadhaar details is not mandatory to open a PPF account.
5. What is the PPF lock-in period?
Investments made to a PPF account have a lock-in period of 15 years. However, individuals can make a partial withdrawal from the PPF account after 5 years from the date of opening the account.
PPF scheme is backed by the Indian Government and hence there are no risks associated with investments made in the scheme. With the availability of online payments, it is easy to open and maintain a PPF account to avail maximum future benefits.
Allahabad Bank PPF Account
Andhra Bank PPF Account
Axis Bank PPF Account
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
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application