SBI PPF Scheme- A safe and promising approach to save money is through the SBI PPF Scheme. Over time, you might earn Rs 325457 by investing just Rs 1000. This plan, which offers tax advantages and an interest rate of 7.1%, is perfect for long-term objectives.
The plan offers consistent growth and income tax benefits because it is backed by the Indian government. It’s very simple to open an SBI PPF account, even online. All of the bank’s branches in India accept new account openings. With a minimum deposit of Rs 500 and an annual maximum limit of Rs 150000, the SBI PPF Scheme provides a versatile investment choice that is safe.
SBI PPF Scheme 2025
The SBI PPF Scheme is a secure and promising way to save money for long-term goals. With an interest rate of 7.1%, this government-backed plan can help you earn significant returns, such as Rs 325,457 from an investment of just Rs 1,000. It also offers tax benefits, making it an attractive option for Indian investors seeking safe returns.
Opening an SBI PPF account is easy, even online, and can be done at any of the bank’s branches. The scheme has a minimum deposit of Rs 500 and an annual contribution limit of Rs 150,000, providing flexibility for savers. Indian investors looking for secure returns frequently participate in the Public Provident Fund (PPF).
SBI PPF Scheme 2025 Overviews
| Nodal Agency | State Bank of India |
| Scheme Name | Public Provident Fund (PPF) |
| Benefits | Flexible & High Returns |
| Minimum Investment | Rs 500 Monthly |
| Interest Rate | 7.1% |
| Category | Trending |
| Official website | www.sbi.co.in |
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Key Features of SBI PPF Scheme
- Amount & Tenure: The highest annual deposit limit for the SBI PPF programme is Rs 150000, while the minimum investment requirement is Rs 500. The scheme’s initial duration was 15 years. On request, you can then extend it in 5-year increments.
- Rate of Interest: The Central Government sets the interest rate, which is updated every three months. The current annual rate is 7.10% as of April 2020. The account holder can designate their portion, and you can designate one or more others to receive the money.
- Loan & Flexibility: The age of the account and the balance as of particular dates determine which withdrawals and loans are available. Upon request, the PPF account can be moved between branches, banks, or post offices for free. Section 88 of the Income Tax Act provides tax benefit to investors.
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Terms & Conditions
Deposit Amount: Subscribers need to make sure they don’t go over the Rs 150000 annual deposit cap. Any surplus will not be subject to tax exemptions or interest. Deposits may be made in installments or as a single payment.
- Minimum Balance: Between the fifth and the end of the month, interest is computed using the account’s lowest balance. On March 31st of each year, it is credited to the account. The balance in the PPF account is likewise exempt from wealth tax, and income from the account is entirely tax-free.
- Premature Withdrawal: There are some situations in which an account may be closed early. These include a change in residency status, the account holder or their dependents pursuing higher education, or the account holder or their family experiencing a life-threatening disease.
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How to Open an SBI PPF Account?
On behalf of their children, any Indian citizen, including parents, may open a Public Provident Fund (PPF) account. To start, you need to have an Aadhaar-linked savings account with the State Bank of India. You can apply online using the bank’s official website or visit the SBI office that is closest to you to open a PPF account. The steps to apply online are as follows:
- Go to SBI’s official website.
- Choose the “PPF Account” choice.
- Fill out the form and attach the required files.
- Your account will be activated after the application has been processed.
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Conclusion
The SBI PPF Scheme offers a safe and flexible investment option for long-term financial goals. With an interest rate of 7.1% and tax benefits, it ensures consistent growth. The minimum deposit is Rs 500, and the annual limit is Rs 150,000. The account can be easily opened online or at any SBI branch. The scheme’s 15-year term can be extended, providing additional flexibility. It’s an excellent choice for those seeking secure, government-backed returns.
SBI PPF Scheme FAQ’S
What is the minimum deposit for SBI PPF?
The minimum deposit is Rs 500 per month.
What is the interest rate on SBI PPF?
The interest rate is 7.1% per annum.
Can I open an SBI PPF account online?
Yes, you can open an SBI PPF account online via the official SBI website.
What is the maximum annual deposit for SBI PPF?
The maximum annual deposit limit is Rs 150,000.
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