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PPF scheme update: PNB brings more benefits for its customers; details here

PPF Scheme update: Central government is running several schemes for the welfare of the common public. Now, the public sector Punjab National Bank has brought a special scheme for its customers that offers more benefits under the government schemes. It is good news for those who want to invest in Public Provident Fund (PPF Scheme). […]

Edited By : Divya Richa | Updated: Aug 8, 2023 13:12 IST
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PPF scheme update

PPF Scheme update: Central government is running several schemes for the welfare of the common public. Now, the public sector Punjab National Bank has brought a special scheme for its customers that offers more benefits under the government schemes. It is good news for those who want to invest in Public Provident Fund (PPF Scheme). Punjab National Bank has informed its customers through X (earlier called Twitter).

PNB informs on X

Punjab National Bank has informed X that now the customers will have savings as well as tax savings. Besides this, the bank has said that the customers can transfer funds online from home and there is no need to go to the branch to deposit money in PPF.

Start investing from Rs 500

You can start investing in the Public Provident Fund scheme with a minimum of Rs 500. You can open the account from your nearest post office or bank anywhere. From January 1, 2023, the government is giving interest benefits at the rate of 7.1 per cent under this scheme and the maturity of the PPF scheme is in 15 years.

Investment can be increased for 5-5 years

PNB customers under this scheme can apply to increase it in a block of 5-5 years. In this, he also gets the option of continuing the contribution or not.

Tax exemption benefit

PPF scheme is offering the benefit of tax exemption. You can take advantage of tax exemption under section 80C under this scheme. The amount which we will get on maturity after interest under this scheme is also tax-free. You can also apply for a loan after the completion of 5 years under this scheme.

More info at the official link

For more information about the PPF scheme, you can visit the official link https://www.pnbindia.in/public-provident-fund.html. Here you will get all the information about the PPF scheme.

First published on: Aug 08, 2023 01:12 PM IST

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