Go Back   2019-2020-2021 StudyChaCha > StudyChaCha Discussion Forum > General Topics




  #2  
Old September 27th, 2016, 01:14 PM
Super Moderator
 
Join Date: Dec 2012
Default Re: Bank Of India From Account Open Form

The Bank of India (BOI) Public Provident Fund (PPF) account is your answer to mobilize your savings into an interest-generating account that also helps you save on income tax.

Documents Required to open PPF account in Bank of India :

Account opening form – Form A.
Pay-In slip – Form B.
Nomination form – Form E
Identity proof
Address proof – a copy of the address proof must be submitted with an original to verify the same. Could be your telephone bill, utilities bill, ownership papers, etc
Passport sized photographs – Two recent passport sized photographs are required.

Public Provident Fund (PPF)

The Scheme is for 15 years.

Extension of 5 years for any number of times

Public Provident Fund Interest Rate is annually fixed by Government, which for the present year 2015-16 is fixed 8.7% compounded annually

Account can be opened by an individual or a minor through the guardian

Joint account is not permissible

NRI are NOT eligible to open PPF A/c

The minimum deposit is 500/- in each financial year and maximum is Rs. 1,50,000/- in a financial year

The deposit can be either in lump sum or in instalment - maximum 12 in a year

The discontinued account can be activated by payment of minimum deposit of Rs.500/- with penalty of Rs.50/- for each defaulted FY

The deposits shall be in multiple of Rs.100/- subject to minimum amount of Rs.500/-

The deposit in a minor account is clubbed with the deposit of the account of the Guardian for the limit of Rs.1,50,000/-

Nomination facility available

PPF cannot be attached by any Court.



Public Provident Fund Account Application Form



__________________
Answered By StudyChaCha Member
Reply With Quote Quick reply to this message
Reply


Reply to this Question / Ask Another Question
Your Username: Click here to log in

Message:
Options

Forum Jump


All times are GMT +6.5. The time now is 06:55 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.0 PL2

1 2 3 4 5 6 7 8 9