Public Provident Fund (PPF)

URI: https://gptkb.org/entity/Public_Provident_Fund_(PPF)
GPTKB entity
Statements (48)
Predicate Object
gptkbp:instanceOf savings scheme
gptkbp:accountHolder one per person
gptkbp:accountNumber unique for each account
gptkbp:accountOpening post offices
banks
gptkbp:accountReactivation allowed after penalty payment
gptkbp:accountTransfer allowed
gptkbp:applicableLaw Public Provident Fund Act, 1968
gptkbp:benefit gptkb:Section_80C_of_Income_Tax_Act,_1961
tax-free interest
gptkbp:collateralForLoan can be used
gptkbp:country gptkb:India
gptkbp:depositMode cash
cheque
demand draft
online transfer
gptkbp:eligiblePersons resident individuals
gptkbp:firstReleased 1968
gptkbp:frequency once or in installments
https://www.w3.org/2000/01/rdf-schema#label Public Provident Fund (PPF)
gptkbp:interestCredit end of financial year
gptkbp:jointAccount not allowed
gptkbp:launched gptkb:Government_of_India
gptkbp:lockInPeriod 15 years
gptkbp:mainInterest compounded annually
varies quarterly
gptkbp:maturityExtension in blocks of 5 years
gptkbp:maximumLoanAmount available from 3rd to 6th year
₹1.5 lakh per year
gptkbp:minimumInvestment ₹500 per year
gptkbp:minorAccount allowed under guardian
gptkbp:nominationFacility available
gptkbp:nomineeChange allowed
gptkbp:NRIEligibility not eligible
gptkbp:partialWithdrawal allowed from 7th year
gptkbp:passbook issued to account holder
gptkbp:penaltyForDefault ₹50 per year plus minimum deposit
gptkbp:prematureClosure allowed under specific conditions
gptkbp:purpose retirement planning
long-term savings
gptkbp:regulates gptkb:Ministry_of_Finance,_Government_of_India
gptkbp:riskFactor government-backed, low risk
gptkbp:targetUser single
gptkbp:taxOnMaturity exempt
gptkbp:transferredTo between banks and post offices
gptkbp:withdrawalOnMaturity full amount with interest
gptkbp:bfsParent gptkb:Section_80C_of_Income_Tax_Act
gptkbp:bfsLayer 7