Public Provident Fund (PPF) Account
Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax. Investors can get the facilities such as loan, withdrawal and extension of account.
Eligibility for opening PPF account
Public Provident Fund (PPF) account can be opened by resident Indian individuals and individuals on behalf of minors.
With ICICI Bank, opening a PPF account is simple and instant.
Online PPF Account can now be opened instantly for existing customers.
If you are an existing customer. Apply now
If you hold a joint account or wish to open a PPF account for a minor, you need to fill the requisite form and submit it along with the Know Your Customer (KYC) documents to the nearest ICICI Bank branch.
PPF Product Features
- Attractive interest rate of 7.9% that is fully exempted from Income Tax under Section 80C
- Good long term investments of 15 years
- Minimum deposit Amount is Rs.500 and maximum Rs.1,50,000 in one financial year. Deposits should be in multiples of Rs.50
- Loan can be availed between 3rd to 6th financial year
- Partial withdrawal facility can be availed after completion of 5 financial years
- Account can be extended in a block period of 5 years after maturity
- Deposits to Public Provident Fund (PPF) Accounts can be made in the form of cash, cheque, online funds transfer from ICICI Bank Savings Account and fund transfer from other bank accounts through NEFT.
PPF account with ICICI Bank offers you benefits such as
- Transfer funds online option from linked Savings Bank Account
- Standing Instruction facility to ensure regular investment
- Viewing your PPF Account statement online
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