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  • Contributions made are eligible for tax rebate under 80C of Income Tax, 1961 upto a ceiling of 1.5 lakhs as per old Tax regime.
  • Withdrawal Facility available.
  • Loan Facility available.
  • Account Extension facility available.
  • Contributions are eligible for EEE benefits
  • Initial Minimum Deposit Amount is Rs 500/
  • Minimum deposit is Rs 500/- & Maximum deposit is Rs 1,50,000/- In a Financial Year
  • Deposit can be made in one lump sum or in any number of instalments in a Financial Year (Deposits may be made in multiples of Rs 50/-)
  • The duration of the account is 15 years from the end of the Financial Year in which the PPF account was opened (i.e. 1st April to 31st March)
  • Extension of account permitted for one or more block period of 5 Years (the request shall be made by the account holder before the expiry of 1 year from the maturity of the account).
  • A Depositor shall nominate one or more individuals as Nominee but not exceeding four individuals, at the time of opening or at any time before the maturity of account.
  • Transfer of Account facility available as per scheme guidelines.
  • Withrawal and Loan facilities are available as per scheme guidelines.
  • An Individual (Resident Citizen of India) of 18 years and above.
  • An individual may also open one account on behalf of each minor or a person of unsound mind of whom he is the guardian (provided that only one account shall be opened in the name of a minor or a person of unsound mind by any of the guardian)
  • Joint account shall not be opened under this Scheme. Exemption - NRIs / HUFs

Interest as notified by the Government of India (present rate being 7.1 % p.a.).

  • Application form.
  • Photograph of depositor/s (2 copies).
  • Proof of identity and address as per KYC Norms- Only the following documents will be acceptable (for individuals):
    • Passport.
    • Driving License.
    • PAN Card.
    • Voter Identity Card issued by the Election Commission of India.
    • Job card issued by NREGA duly signed by an officer of State Government.
    • Letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number.
  • Joint Account shall not be opened under this scheme .
  • NRI’s / HUF are not eligible to open an account under this scheme.
  • Maximum Deposit Amount shall not exceed Rs 1,50,000/- in a financial year
  • Contributions to PPF account qualify for deduction from Income under Section 80C of the Income Tax Act subject to the limit of Rs 1,50,000/- in a Financial Year only if the customer has opted for old tax regime.
  • For latest information, visit www.nsiindia.gov.in.

You can apply through following modes :

  • Online Mode :
    • Internet Banking.
    • Mobile Banking App.
  • Internet Banking
    • Visit nearest branch of Canara Bank.
    • To redirect on the login page, please Click Here.
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Last updated on 29-09-2023 12:11 PM

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