PPF Account - Eligibility
The only eligibility criteria to open a PPF account is that you must be a resident Indian citizen. A PPF account can also be opened in the name of an eligible minor.
How to Apply For PPF Account
With ICICI Bank, opening a PPF account is simple and instant.
If you’re an existing customer of ICICI Bank, you can now open an online PPF account instantly.
Click the button below to do so.
Features and Benefits of PPF Scheme
The PPF scheme has many beneficial features. We’ve listed some of them here.
- Interest at an attractive rate of 7.1% that is fully exempted from income tax under section 80C
- Good long-term investment option with a tenure of 15 years
- Minimum deposit amount of ₹500 and maximum deposit amount of ₹1,50,000 in one financial year
- Deposits in multiples of ₹50
- Loan that can be availed between the third and the sixth financial year
- Partial withdrawal facility that can be availed after the completion of five financial years from the date of opening the account
- The option to extend the PPF investment tenure by a block period of five years after the maturity date
- Deposits that can be made in the form of cash, cheque, online fund transfers from ICICI Bank Savings Account or fund transfers from other bank accounts through NEFT
Benefits of PPF account in ICICI Bank
- Online fund transfers from your savings bank account that’s linked with the PPF account
- A standing instruction facility to ensure regular investments
- The option to view your PPF account statement online
Trusted plans to secure your family
iWish is a unique online Goal based savings
Diversify your investment portfolio with Mutual Funds
Designed to fulfil your different needs in every stage of life
What are Hybrid Funds? What are the different types of Hybri..
Hybrid Mutual Funds invest in a mix of Equity, Debt, and gold-related instruments. The combination of asset classes will depend upon the investment obje...
A Brisk Understanding of How to Invest in a Mutual Fund Sche...
Are you investing in Mutual Funds for the first time? If yes, it is necessary to gain a good understanding of the Mutual Fund market to be able to earn ...
What are the Different Types of Mutual funds in India?...
Mutual funds are one of the most popular forms of investments available in the market today. Mutual funds operate at the behest of asset management comp...