Public Provident Fund FAQs

How do I apply for the Public Provident Fund (PPF) Scheme, 1968 through ICICI Bank?


To apply for the PPF Provident Fund ( PPF ) scheme, 1968, customer is required to fill Form A and submit it at any nearest ICICI Bank branch with KYC documents. The PPF account will be opened mapping it to one of the designated branches

Can I access my Public Provident Fund (PPF) account maintained with ICICI Bank through Internet Banking?


Yes, ICICI Bank offers you the convenience of viewing your Public Provident Fund (PPF) Account balance, transferring funds from linked savings account online and viewing your Public Provident Fund (PPF) account statement online in your ICICI Bank Net Banking Account.

Can I set standing instruction in my PPF account?


Yes, to set standing instruction in PPF account you can visit your nearest ICICI Bank branch

What are the documents required for opening a Public Provident Fund (PPF) account with ICICI Bank?


For customers who have a relationship with ICICI Bank that is < 5 years, the following documents is required

  • Form A
  • Passport size photograph
  • Copy of PAN card
 

For customers who have a relationship with ICICI Bank that is > 5 years, the following documents is required

  • Form A
  • Passport size photograph
  • Copy of PAN card
  • Residence proof – Passport/ Electricity Bill

What is the process for transferring my existing Public Provident Fund (PPF) account maintained with another bank/post office to ICICI Bank?


PPF account can be transferred from one authorised bank or Post office to another. In such case, the PPF account will be considered as a continuing account.

Can I maintain more than 1 Public Provident Fund (PPF) account under my name?


Only one PPF account can be maintained by an Individual, except an account that is opened on behalf of a minor.

What is the eligibility for investing under Public Provident Fund (PPF) Scheme, 1968?


  • A Public Provident Fund (PPF) account can be opened by resident Indian Individuals and individuals on behalf of minors.
  • Only one Public Provident Fund (PPF) account can be maintained by an Individual, except an account that is opened on behalf of a minor.
  • A Public Provident Fund (PPF) account can be opened either by the Mother or Father on behalf of their minor Son or Daughter; however the Mother and Father both cannot open Public Provident Fund (PPF) accounts on behalf of the same minor.
  • Grand-parents cannot open a Public Provident Fund (PPF) account on behalf of minor grand-child; however, in case of death of both the Father and Mother, Grand-parents can open a Public Provident Fund (PPF) account as guardians of the Grand-child.

What is the minimum and maximum amount that can be invested under the Public Provident Fund (PPF)


The minimum deposit amount is Rs. 500 per annum and the upper ceiling limit is Rs. 1,50,000 per annum.

What happens if I fail to deposit any amount in one or more Financial Years?


Penalty of Rs. 50 will be levied per year of default, if the customer do not deposit the minimum amount of Rs. 500 in a financial year.

What is the Interest earned in Public Provident Fund (PPF) account?


The current rate of interest on Public Provident Fund (PPF) is 8.1%, which is compounded annually. Interest rate is as governed by Ministry of Finance from time to time.

Can I avail of Loan facility on my Public Provident Fund (PPF) investment?


Yes, loan facility can be availed between third  to sixth financial year.

Can I withdraw funds from my Public Provident Fund (PPF) Account?


Yes, partial withdrawal facility can be availed in PPF account from 7th financial year onwards

Can I terminate or closed the Public Provident Fund (PPF) account before before maturity?


No premature closure is allowed for Public Provident Fund (PPF) accounts.

When does a Public Provident Fund (PPF) account mature?


A Public Provident Fund (PPF) account gets matured after the completion of 15 years from the end of the year in which the account was opened.

Can I extend the tenure of a Public Provident Fund (PPF) investment beyond the Maturity Period?


A customer can extend the tenure of a Public Provident Fund (PPF) investment for a block period of 5 years beyond the maturity period by submitting Form H within one year from the date of maturity.