Use the Corporation Bank PPF Calculator to check the Corporation Bank Public Provident Fund returns and Maturity amount. Corporation bank’s provident fund scheme is a great saving scheme where you will receive good returns along with the loan facility and tax benefits. If you are willing to open the PPF Account in Corporation bank, get complete Corporation bank PPF benefits, features, eligibility, How to open corporation bank PPF account, steps to use Corporation Bank PPF Calculator, etc. in this article.
Corporation Bank PPF Calculator
The Public Provident Fund in Corporation bank is a tax saving scheme for 15 years. So, it is difficult to calculate the PPF maturity amount for each year without using a calculator. Hence, we have provided the PPF calculator Corporation bank on our site. With the help of this Corporation Bank Public Provident Fund (PPF) calculator, you can calculate the following amounts for 15 years. Refer the below steps to know How to use Corporation Bank PPF Calculator.
- Total Interest earned per month.
- Closing balance.
- Withdrawal amount.
- Loan Amount.
- Maturity Amount.
Steps To Use PPF Calculator Corporation Bank
- Hit the link below to open Provident fund PPF calculator.
- Then, in the new tab, the Corporation Bank PPF Calculator opens.
- You have to enter PPF deposit amount.
- Then, within few seconds the PPF account details will be displayed in a tabular format.
- Check the maturity amount and repeat the same for the various PPF deposit amounts using the Corporation Bank PPF Calculator.
Corporation Bank PPF Interest 2017
|PPF Interest Rate In Corporation Bank|
|Financial Year||Corporation Bank PPF Interest Rate 2017 (p.a.)|
|2000 to 2001||11.0%|
|2001 to 2002||9.5%|
|2002 to 2003||9.0%|
|2003 to 2004||8.0%|
|2004 to 2005||8.0%|
|2005 to 2006||8.0%|
|2006 to 2007||8.0%|
|2007 to 2008||8.0%|
|2008 to 2009||8.0%|
|2009 to 2010||8.0%|
|2010 to 2011||8.0%|
|2011 to 2012||8.6%|
|2012 to 2013||8.8%|
|2013 to 2014||8.7%|
|2014 to 2015||8.7%|
|2015 to 2016||8.7%|
|2016 to 2017||8.1%|
Look at the above table to know the PPF interest in Corporation bank for the past few years. You have given the corporation PPF rate up to the financial year 2016-17. The financial year is from April 1st to March 31st. The Provident Fund Interest rate are not fixed they vary every year. So, before you plan to open the PPF in Corporation bank confirm the Interest rate of PPF. The Interest rate of the respective year, i.e., when you open the PPF account is applicable for complete maturity period.
Corporation Bank PPF Account Details
The best way of saving is to have a PPF account in Corporation bank. Corporation bank PPF scheme has a large number of flexible features and benefits. The Public Provident Fund is commonly called as PPF. It is a tax-free saving scheme. It is good for the people who want to save money for a long duration of time. When compared to other deposit schemes the PPF will have the high-interest rates. So, it is possible to earn huge interest on the money you deposit.
Corporation Bank is public sector bank in India with its headquarters at Mangalore. It offers the excellent services to its customers through many bank branches and the ATM’s. This bank also has the branches at Dubai and Hong Kong.
Corporation Bank Provident Fund Eligibility
- Individuals on behalf of a minor.
For more details regarding the eligibility to open Corporation Bank, PPF account is you can check in the Corporation Bank official website.
Corporation Bank PPF Benefits
- Minimum Corporation bank PPF deposit is Rs.500/- per annum & multiples of Rs.5/-.
- Maximum PPF deposit amount in corporation bank is Rs.100,000/- per annum.
- The duration of the corporation bank PPF scheme is 15 years.
- You can extend the scheme from 1 year to 5 years.
- In case if you discontinue the account you will receive the subscription amount along with interest earned.
- The loan is sanctioned up to 25 % of the PPF balance after six years.
- After the full payment of the first loan, the second loan will be sanctioned.
- The withdrawals are allowed from 6th year.
- Withdrawals are allowed up to 50%.
- If you extend the PPF account after maturity period, i.e., 15 years, you will get 60% of the balance.
- Income Tax exemption.
- Wealth Tax exemption.
PPF Corporation Bank Overview – www.corpbank.com
|Corporation Bank Provident Fund Account|
|Bank Name||Corporation Bank|
|Scheme Name||Corporation Bank Public Provident Fund|
|Corporation Bank PPF Scheme Duration||15 Years|
|Corporation Bank PPF Interest Rate||8.1%|
|Maximum number of PPF Account for one Person||Only One|
|Minimum Corporation Bank PPF amount per year||Rs. 500 per annum|
|Maximum Corporation Bank PPF amount per year||Rs. 1, 50, 000 per annum|
|Corporation Bank PPF account Maturity Period||15 Years|
|Corporation Bank PPF Eligibility||Any individual & also Minor|
From the above table, you can get the complete overview of the Provident fund in Corporation bank. Along with these above details, we have also mentioned the documents required to open Corporation bank PPF account, how to deposit money in PPF account, etc below.
Documents Required For Opening Corporation Bank PPF Account
- Corporation bank PPF account opening form (Form A).
- ID proof.
- Residence proof.
- Bank’s KYC.
- Nomination Form.
- Passport size photograph.
- PAN card.
PPF Account in Corporation Bank
The corporation bank offered the facility to open the PPF account through both Online and offline modes. Check the below process to open Provident Fund account in Corporation bank.
PPF Account Opening in Corporation Bank
- Go to the nearest Corporation Bank branch.
- Then, collect the Corporation bank PPF account opening application form.
- Fill the Corporation bank PPF application form carefully.
- Attach the required documents to the PPF form.
- Now, you have to pay the PPF subscription amount.
- Within few days the PPF account will be activated.
Corporation Bank PPF Account Online
- Visit the Corporation Bank official website www.corpbank.com.
- Search for the Corporation Bank PPF application link.
- Fill the application form and attach the documents.
- Go to the Corporation Bank branch and submit the documents.
- You have the Corporation Bank Internet banking facility; you can pay the PPF deposit amount Online.
- After few days the Provident fund account in the corporation bank will be activated.
How To Deposit Money In Corporation Bank PPF Account
You can deposit the money in PPF account at the bank itself or through Online. You have to deposit the PPF amount every Monthly/ Yearly. So, it may not be possible to go to the Corporation bank every time. Nowadays many of us are having the Internet banking, so the Corporation bank has provided the auto debit facility. If you have no Internet banking facility don’t worry, you can deposit the money in the corporation bank PPF account at the Corporation Bank branch. Just simply go to the bank, and you need to fill the deposit pay slip and enter the Corporation bank PPF account number carefully and pay the PPF deposit amount. Otherwise, you can drop a cheque at the bank.
How To Transfer PPF Account from Post Office To Corporation Bank
For the PPF account, you have the facility of both transferring the PPF account from the post office to corporation bank and corporation bank to post office. It is so simple to transfer the Provident fund account. What you need to submit a form at the post office requesting them to change the Provident fund account to the Corporation bank. Then the post office will transfer the PPF to the bank. After the verification of the documents, your account will be transferred.
Corporation Bank Braches For PPF
- Andhra Pradesh (Secunderabad – M.G. Road Branch).
- Gujarat (Gandhinagar and Gandhidham Branches).
- Karnataka (Bangalore IFB and Mangalore Punja Arcade Branches).
- Kerala (Thiruvananthapuram Main branch).
- Tamilnadu (Coimbatore IFB).
To know more updates regarding the New PPF Interest Rate for the financial year 2017-18, Corporation Bank PPF Calculator with New PPF interest rates, latest Corporation PPF schemes, etc. regularly visit our site www.ppfcalculators.com. Our site is exclusive for the Public provident fund. So, if you have any doubt, you can check out on this site.