Check the PPF maturity amount using Bank of Maharashtra PPF Calculator. The Public Provident Fund is a tax saving scheme in Maharashtra bank. So, if you are willing to open the bank of Maharashtra PPF account online get complete PPF details on this page. We have mentioned the complete information regarding the Bank of Maharashtra PPF account, Bank of Maharashtra PPF account opening form, documents, How to open PPF account in Bank of Maharashtra, PPF eligibility in this article.
Bank of Maharashtra PPF Calculator
PPF calculator Bank of Maharashtra is a tool to perform PPF calculations. The manual PPF calculation is somewhat complex as PPF tenure is 15 years. So you need a BOM Provident Fund Calculator. So, we have provided the Provident Fund calculator Bank of Maharashtra on our site. With the help of this PPF calculator, you can get the exact and approximate maturity amount. Our PPF calculator is designed with the latest PPF interest rates 2017. The following are the details you can calculate using Public Provident Fund Bank of Maharashtra calculator. Refer the below steps to use the Bank of Maharashtra PPF Calculator on our site.
- Interest earned.
- Maturity Amount.
- Closing Balance.
- Maximum loan amount.
- Maximum withdrawal amount.
How To Use PPF Calculator Bank of Maharashtra?
- Click on the below link to Open the Bank of Maharashtra PPF Calculator.
- Now, a new tab opens with the PPF calculator.
- Then, you have to enter the PPF deposit amount in the Bank of Maharashtra PPF Calculator.
- Click on “calculate”.
- Within a fraction of seconds, the PPF details mentioned above for 15 years are displayed on the Bank of Maharashtra PPF Calculator.
Bank of Maharashtra PPF Interest Rate
|Bank of Maharashtra PPF Account Interest Rates|
|Financial Year||BOM PPF Interest of rate ( % p.a.)|
|April 2016 to March 2017||8.1%|
|April 2015 to March 2016||8.7%|
|April 2014 to March 2015||8.7%|
|April 2013 to March 2014||8.7%|
|April 2012 to March 2013||8.8%|
|April 2011 to March 2012||8.6%|
|April 2010 to March 2011||8.0%|
|April 2009 to March 2010||8.0%|
|April 2008 to March 2009||8.0%|
|April 2007 to March 2008||8.0%|
|April 2006 – March 2007||8.0%|
|April 2005 to March 2006||8.0%|
|April 2004 to March 2005||8.0%|
|April 2003 to March 2004||8.0%|
|April 2002 to March 2003||9.0%|
|April 2001 to March 2002||9.5%|
|April 2000 to March 2001||11.0%|
From the above mentioned table, you can check out the previous year Bank of Maharashtra PPF rates. Usually, the PPF interest rates change for every financial year. The financial year starts on April 1st and ends on March 31st of the next year. As the Bank of Maharashtra PPF tenure is 15 years, the interest rate of PPF varies. So, for the next financial year, the PPF interest rates will be changed. But, the same interest (the PPF interest rate in the year you open PPF account) will be applicable for 15 years. So, visit the Bank of Maharashtra official site to check the PPF rate bank of Maharashtra. The current Interest rate of Bank of Maharashtra’s PPF account is 8.10%.
The PPF stands for Public Provident Fund. PPF is a savings account scheme which is introduced by National Savings Institute in the year 1968. For the long term savings, the PPF saving scheme is the best. There are a large number of Bank of Maharashtra PPF account benefits. The Bank of Maharashtra Provident Fund is Joint PPF accounts are not possible. It is suitable for all the categories of people as the minimum PPF subscription amount is Rs. 100/-. But, the number of subscriptions must not exceed 12 in a year. You can also deposit total deposit amount at a time.
The Bank of Maharashtra is a top public sector bank in India. Out of the total Bank of Maharashtra shares, the government of India holds 81.61%. Bank of Maharashtra is offering the PPF since 1984 with huge customers with PPF account. It has its headquarters at Pune. This bank got autonomous status in the year 1998. It serves all its customers with many bank branches and ATM’s all over India.
Bank of Maharashtra PPF Scheme Overview – www.bankofmaharashtra.in
|Bank of Maharashtra Provident Fund Account|
|Bank Name||Bank of Maharashtra|
|Scheme Name||Bank of Maharashtra Public Provident Fund|
|BOM PPF Scheme Duration||15 Years|
|Bank of Maharashtra PPF Interest Rate||8.1%|
|Maximum number of PPF Account for one Person||Only One|
|Minimum BOM PPF amount per year||Rs. 500 per annum|
|Maximum BOM PPF amount per year||Rs. 1, 50, 000 per annum|
|Bank of Maharashtra PPF account Maturity Period||15 Years|
|Bank of Maharashtra PPF Eligibility||Any individual & also Minor|
From the above table, you can get the important details of the Bank of Maharashtra Public Provident Fund. Check out these info and also have a glance at the Bank of Maharashtra eligibility, Account opening etc.
Eligibility To Open PPF Account in Bank Of Maharashtra
For more details about the PPF account eligibility go to the nearest Bank of Maharashtra branch.
PPF Account in Bank Of Maharashtra – Documents Required
- Bank of Maharashtra PPF account Form / PPF account opening form (Form A).
- ID proof.
- Residence proof.
- Bank’s KYC.
- Nomination Form.
- Passport size photograph.
- A Copy of PAN card.
Benefits of Bank of Maharashtra PPF Account
Before you open the Bank of Maharashtra Provident fund account have a glance the below list of benefits.
- Minimum PPF subscription Amount is Rs. 100/-/.
- The Maximum limit for the deposit is Rs. 1.5 lakhs.
- Nomination facility.
- Loan facility.
- Premature withdrawals.
- PPF extension up to 15 years.
- Income Tax exemption.
- Wealth Tax exemption.
- Deposit in the lump sum is possible.
Bank of Maharashtra PPF Account Form
The Bank of Maharashtra PPF account opening form is available in the Maharashtra bank site. If not you can find the PPF application form Bank of Maharashtra at the bank branch. The application to open PPF account in Bank of Maharashtra is Form A. The following are the details required to fill the Bank of Maharashtra PPF account opening form
- Full name of the applicant.
- Initial PPF Deposit amount.
- Bank of Maharashtra Branch details.
- PAN number.
- Bank of Maharashtra account number.
- Investment limit.
PPF Account in Bank of Maharashtra
The public provident fund account opening in the Bank of Maharashtra is so easy. This bank offers both Online and Offline processes to open Provident fund account. So, depending on the depositor convenience, they select the PPF account opening option. Therefore, you have mentioned both processes below.
Bank of Maharashtra PPF Account Online
Online PPF Account opening in Bank of Maharashtra is possible if you have the Bank of Maharashtra Internet Banking facility. The Internet banking option in the Bank of Maharashtra is Mahaconnect. If you have registered through this service, you can transfer the fund through this.
How To Open Bank of Maharashtra PPF Account – Offline
- Go to the Bank of Maharashtra Bank.
- Collect the Bank of Maharashtra application form to open PPF Account.
- Fill the application form carefully.
- Pay the deposit amount.
- Attach the required documents to the PPF application form.
- Now, submit it to the concerned person in the bank.
- After the verification form verification, the PPF Account at Bank of Maharashtra will be activated.
Bank of Maharashtra Provident Fund Rules and Guidelines
- Both parents cannot open a separate account for the same minor.
- PPF Account cannot be transferred from one person to another.
- Public Provident Fund Account can’t be opened in joint names.
- NRI’s can open the PPF account.
- The PPF tenure is 15 years.
- After the Six years of PPF account opening, withdraw are allowed.
- The withdrawal amount is fixed to be 50% of the total balance at the end of the 4th year.
How To Deposit Money in Bank of Maharashtra PPF Account?
You have to pay the fixed deposit amount every month/ year for a period of 15 years. So, you can deposit the amount at a time in the PPF account or on the instalment basis for 15 years. Therefore, the Bank of Maharashtra has provided the facility to pay the Provident fund through online and offline modes. If you want to pay PPF amount through Online you can use the Internet banking or the Auto debit form. Otherwise, if you want to deposit at the bank branch you can use drop a cheque.
How To transfer PPF Account at Post Office To Bank of Maharashtra
The Provident Fund at Post office can be transferred to the Bank of Maharashtra. If you wish to transfer the PPF account you have to request the Post office officials for Change PPF account. For this process, you need to submit your details and PPF application form at the post office where you opened the account. Then, this document is transferred to the Bank of Maharashtra. After the transferred document verification at the Bank of Maharashtra, the PPF account will be transferred.
Our site www.ppfcalculators.com is exclusive for the Public Provident Fund. So, for the latest updated regarding the BOM PPF rates, Bank of Maharashtra PPF Calculator etc regularly visit our site.