Here is the Dena Bank PPF calculator to make you aware of your PPF maturity amount. You can get the current PPF interest rates of Dena bank for the financial year of 2017. We have also provided the list of steps for opening Public provident fund account in Dena bank. So, keep reading the article to make use of the Dena bank PPF interest calculator.
Dena Bank PPF Calculator
The Calculation of Dena bank PPF interest rate is based on the financial year’s interest rate. However, the rates change every year. The rate of interest for the financial year 2016-17 is 8.1% per annum. The deposit cap of Dena bank PPF account is Rs.1,50,000. One can hold on the Public Provident Fund account for a maximum tenure of 15 years. So, the deposit range will be around Rs.22,50,000. Consequently, the maturity amount you will get is Rs.46,75,910. The Dena Bank PPF Calculator calculates interest on Dena Bank PPF account on a monthly basis.
Similarly, you can calculate your maturity amount with the help of our Dena Bank PPF rates calculator. It helps you to know the maturity amount easily and instantly too. You just need to enter some details regarding your PPF account like investment amount, subscription type in years or months. Then the Dena bank PPF calculator makes the number crunching and provides you with the exact maturity amount on your PPF account in Dena Bank. So, below is the procedure of using PPF calculator of Dena bank.
How to Use Dena Bank PPF Interest Calculator?
- Click on the below link to Dena Bank PPF Calculator.
- The Dena Bank PPF account calculator appears on your screen.
- Fill in the details of investment amount, type of subscription, the financial year.
- Recheck for any mistakes in the details.
- Then click “calculate.”
- The Dena Bank PPF interest rate Calculator displays the maturity amount of your Public Provident Fund account.
So, to use the Dena Bank PPF Calculator, click the below link.
Dena Bank PPF Interest Rate
|PPF rates of interest in Dena Bank|
|Financial Year||Dena Bank Interest rate on PPF|
|April 2000 – 2001 March||11.0%|
|April 2001 – 2002 March||9.5%|
|April 2002 – 2003 March||9.0%|
|April 2003 – 2004 March||8.0%|
|April 2004 – 2005 March||8.0%|
|April 2005 – 2006 March||8.0%|
|April 2006 – 2007 March||8.0%|
|April 2007 – 2008 March||8.0%|
|April 2008 – 2009 March||8.0%|
|April 2009 – 2010 March||8.0%|
|April 2010 – 2011 March||8.0%|
|April 2011 – 2012 March||8.6%|
|April 2012 – 2013 March||8.8%|
|April 2013 – 2014 March||8.7%|
|April 2014 – 2015 March||8.7%|
|April 2015 – 2016 March||8.7%|
|April 2016 – 2017 March||8.1%|
The interest rate on PPF account in Dena Bank is not a contractual charge as notified by the Ministry of Finance, Government of India. Currently, The Dena Bank PPF interest rate stops at 8.1% per annum. Moreover, the calculation of interest rate in Dena PPF account is on your lowest balance from the fifth day and last day of the month. Your interest on Public Provident Fund account in Dena Bank will be credited on March 31st of every year.
Dena Bank PPF Scheme
The Devkaran Nanjee Banking Company Ltd was founded on 26th may, 1938. It became a Public limited company in the year of 1939 December. Dena bank got its government nationalisation in the year 1969 July. It offers a wide range of services from the core banking solutions and Demat services for the treasury operations and utility payments. Additionally, the Dena bank offers savings, current account, PPF accounts, etc.
Dena Bank PPF account is suitable for those who try for a low risk, confirmed returns on their long-term investment without tax inclusion. It provides the interest with tax exemptions, investment, and maturity proceeds. Although Public Provident Fund is similar to term deposits, it has its differences. Its maturity period has a cap of 15 years, and the maximum limit of investment is Rs.1,50,000. So, to know some other features of Dena Bank Public Provident Fund scheme, Dena Bank PPF calculator usage, go down the page.
To know the features and benefits of Dena Bank PPF scheme, click the below link.
Overview of Dena Bank PPF
|Bank Name||Dena Bank|
|Scheme Name||Dena Bank Public Provident Fund Scheme|
|Dena Bank PPF Scheme Duration||15 Years|
|Dena Bank PPF Interest Rate||8.1%|
|Minimum Dena Bank PPF annual amount||Rs. 500 per year|
|Maximum Dena Bank PPF annual amount||Rs. 1, 50, 000 per year|
|Dena PPF account Maturity Period||15 Years|
|Dena Bank Bank PPF Eligibility||Any individual|
Open Dena Bank PPF Account
For opening a PPF account in Dena Bank, there is no particular age. Those who are certain about earning Rs.1 lakh per year can open this account. Under a statutory Indian government scheme, Public provident fund users should hold on the account for 15 years. One cannot open the Public Provident Fund account in all the branches of Dena Bank except the branches which are designated.
The Dena Bank designated branches are around 85 in number. These banks are the only branches offering PPF account maintenance. They are located in the cities of Chennai, Panaji, Surat, Vadodara, Rajkot, Gandhinagar, Mumbai, Raipur, Bhuj, Bhopal, Bhavnagar, Ahmedabad, etc
How to Open Dena Bank PPF Account Online?
- Log on to the Dena Bank official website to register.
- Fill the application form.
- Submit it in the Dena Bank branch.
- Once the bank receives our application, it activates your net banking access.
- Now, fill the Dena Bank PPF form from your net banking and submit the printed form in the Dena branch.
- Hence, you have opened the PPF account in Dena Bank.
To know more details on PPF account opening procedures, click the below link.
Documents to open Dena Bank Public Provident Fund Account
Customers who want to open a Dena Bank PPF account should carry various documents for verification and proof. Below is the list of documents.
- Dena Bank PPF Deposit Form.
- PAN/Aadhar Card.
- Driving license.
- Ration Card
- Recent photograph.
- Voter ID
One should carry the original documents also for the purpose of verification. The documents also should be self-attested.
Dena Bank PPF Account Opening Form
The Dena Bank PPF application form will be available at the designated branches of Dena Bank. You can visit the branch to acquire the Dena Bank PPF Form. Below are the Dena bank forms for various purposes.
|Form A||Opening PPF Account|
|The Form B||Pay in Slip|
|The Form D||Loan against PPF account|
|The Form F||Cancellation/ change of nomination in PPF account|
|Form G||Withdrawal by legal heirs on death of account holder|
|The Form H||Duration extension of PPF account after 15 years|
Rules and Guidelines of Dena PPF Account
- Individuals can open a PPF account in Dena Bank with a minimum amount of Rs.100 or Rs.500.
- All the salaried and self-employed individuals can open a Dena Bank PPF account.
- If the applicant does not make the minimum deposit, the account will be discontinued. Then a penalty of Rs.50 is laid on your investment.
- Per a year, the customer can deposit an amount of Rs,70,000. They can deposit in instalments or lump amount. The number of instalments per yer should not exceed 12.
- The Dena Bank PPF accounts should not be joint accounts. If the account holder dies, the nominees have no permission to continue the account with their contributions. When there are no nominees, then the legal heirs will receive the deposit.
- PPF account holder can withdraw 50% of the deposit only after the 7 th financial year. However, you can calculate your maturity after the withdrawal with the use of Dena bank PPF calculator.
- One can open the Dena bank Public Provident Fund account either in Post office or any nationalised banks. Then they can transfer the account to from post office to other banks and vice versa.
- There is no allowance for a premature withdrawal or closure except when the account holder dies.
To know the rules and regulations of Dena bank PPF premature withdrawal, click the below link.
Features of Dena Bank PPF Account
- Under section 80C of the Income Tax Act, the deposits of PPF account enjoy tax exemptions.
- Customers can take a loan against the Dena bank Public provident fund account according to the terms and conditions of the bank.
- You can avail loans from the 3rd financial year to the 6th financial year. The bank gives a loan of 25% of your balance at the end of the second year.
- The rate of interest against Public Provident Fund account loan is 2%. If you complete repaying the first loan then you can take a second loan.
- One can extend his/her Dena PPF account even after 15 years with or without depositions further. The extension can be one year or a block of 5 years.
Transfer PPF Account from Post Office to Dena Bank
- Submit the Dena bank PPF account transfer request letter and a transfer form to the post office.
- One can get the PPF Account transfer form online in the websites.
- After you complete the submission, the post office or the bank verifies the form and close your account.
- Then the post office or the bank sends the outstanding balance cheque to the post office or bank along with the policy documents.