IDBI Bank PPF Calculator | How to Open Public Provident Fund Account in IDBI?

Here is the IDBI Bank PPF Calculator to help you know the IDBI Bank PPF maturity amount. You can get the Industrial Development Bank of India PPF rate of interests for every financial year on this page. So, keep reading the article and make use of the information on IDBI PPF rates and PPF calculator of IDBI.

IDBI Bank PPF Calculator

The Industrial Development Bank of India calculator helps you to calculate the maturity amount on your PPF account. It calculates the annual interest on your initial deposit amount. You can know the maturity amount on your IDBI PPF account instantly. The thing you should do is to choose the deposit type either a fixed amount or variable. Also, you need to choose the amount that you will deposit every year to use the IDBI PPF Account calculator.

IDBI Bank PPF Calculator also helps you in estimating the total amount you are going to invest until a particular year. The IDBI PPF interest rate varies from year to year. So, the interest will be added to your annual amount every year, and finally, by the end of tenure, you will get the annual return with interest. Moreover, to use the IDBI PPF calculator, you need to enter some details of your PPF account in IDBI bank. Here are the details.

  • The Principal amount you invest annually.
  • Interest rate.
  • Tenure period of the PPF.

How to Use IDBI PPF Return Calculator?

  1. Click on the below link to IDBI Bank PPF Calculator.
  2. The Industrial Development Bank of India PPF Calculator opens on your screen.
  3. Then enter the details of investment amount and the tenure period in years or months.
  4. Recheck for any wrong details and click “calculate.”
  5. Meanwhile, the PPF calculator of IDBI bank displays the maturity amount on your Public provident fund account.

So, to use the online IDBI Bank PPF Calculator, click the below link.

Online IDBI PPF Calculator

IDBI Bank PPF Calculator

IDBI PPF Interest Rates

PPF Interest Rates of Industrial Development Bank of India
Tenure Period IDBI interest rates on PPF
April 2016 – March 2017 8.1%
April 2015 – March 2016 8.7%
April  2014 – March 2015 8.7%
April  2013 – March 2014 8.7%
April  2012 – March 2013 8.8%
April  2011 – March 2012 8.6%
April  2010 – March 2011 8.0%
April  2009 – March 2010 8.0%
April  2008 – March 2009 8.0%
April  2007 – March 2008 8.0%
April  2006 – March 2007 8.0%
April  2005 – March 2006 8.0%
April  2004 – March 2005 8.0%
April  2003 – March 2004 8.0%
April  2002 – March 2003 9.0%
April  2001 – March 2002 9.5%
April  2000 – March 2001 11.0%

About IDBI Bank PPF

IDBI, with its full form The Industrial Development Bank of India, is one of the leading public sector banks in the country. It offers various services like customised banking, financial solutions to the retail and corporate customers. The IDBI bank got its authorization by the Government of India for its PPF accounts around 675 branches in the country. PPF is a financial saving scheme where one can invest money for certain period.

IDBI Bank PPF accounts provide higher interest rates and annual returns on your deposits. Moreover, the investments in IDBI PPF account have no effect of income tax liabilities. The minimum amount to deposit in your Industrial Development Bank of India is Rs.500. Whereas, a maximum of Rs.1,50,000 can also be your investment for a financial year.

So, to get more information on Industrial Development Bank of India PPF, click the following link.

IDBI Public Provident Fund Features and Benefits

Industrial Development Bank of India PPF – Overview

Features Descriptiopn
Bank Name Industrial Development Bank of India (IDBI)
Scheme Name IDBI Public Provident Fund
IDBI Scheme Duration 15 Years
IDBI Bank PPF Interest Rate 8.1%
Minimum IDBI PPF annual amount Rs. 500 per year
Maximum IDBI PPF annual amount Rs. 1, 50, 000 per year
IDBI PPF account Maturity Period 15 Years
IDBI PPF Eligibility Any individual

How to Open an IDBI Bank PPF Account Online?

  1. Log in to your IDBI internet banking account to open IDBI PPF Account online.
  2. Then fill up the online PPF application form.
  3. Download the IDBI PPF account opening form and submit it the nearest IDBI branch.
  4. Along with the IDBI PPF form, pay the initial amount.
  5. After the payment and submission, the bank will verify your details and then activates your PPF account in IDBI Bank.

To know more details on Industrial Development Bank of India PPF Account Opening, click the below link.

PPF account opening in IDBI

Documents for Industrial Development Bank of India PPF Account

One should deposit the following documents to open IDBI PPF account.

  • Passport, PAN card, Driving License, Election card, Government ID Card, Photo ID, Credit Card, Aadhar card.
  • Signature Proofs like self-signed cheque, passport, government ID card, Photo ID Card, Credit Card.
  • IDBI PPF account opening form with passport size photograph, birth certificate ( in the case of minor PPF account).

Features of IDBI PPF Account

Opening a PPF account in IDBI bank provides you with a lot of benefits and features. Here is the list of features of IDBI bank PPF account.

  • Annual interest on PPF account in IDBI is completely free from income tax. This feature is under section 88, the Indian Income Tax Act, 1961.
  • A facility of nomination for one or more persons which is not applicable for PPF accounts for minors.
  • Withdrawal of cash from the IDBI PPF once a year after completion of 5 years.
  • A user-friendly IDBI Bank PPF Calculator to make you know the IDBI returns on IDBI PPF account.
  • Premature closure of PPF accounts has no allowance unless there is a genuine reason like the death of the depositor.
  • The Interest rate on PPF account in IDBI is 8.1 % for the financial year of 2016-17.
  • A PPF account holder can get a loan against the investment only in the third financial year.
  • IDBI charges 2% more on the interest rate on PPF account loan.

IDBI PPF Account Rules & Guidelines

There are certain rules and guidelines that apply to your IDBI Bank PPF account.

  • Individuals who are the members of a Hindu undivided family have no eligibility to open IDBI PPF account.
  • Also, NRIs are not eligible for PPF account opening in IDBI bank.
  • Both minors and adults can avail the IDBI Bank PPF scheme.
  • Transfer of PPF account from other banks and post offices to IDBI has no charges.
  • The minimum and maximum amount of deposition in IDBI PPF are Rs.500 and Rs.1,50,000 respectively.
  • If the deposit exceeds the maximum of Rs.1,50,000, then you will neither be eligible for tax exemption nor receive interest under the Indian Income Tax Act, 1961.
  • The maturity period of the bank is 15 years and it is extendable to one more or additional block of 5 years.

So, to know PPF Withdrawal rules, click here.

How to Deposit Money in IDBI PPF Account?

One can deposit money into the Industrial Development Bank of India PPF in a maximum of 12 installments or in lump sums in a single financial year. To make this deposit you can follow the online and offline processes.

Online Process for IDBI PPF Deposit

  1. Log in to your IDBI internet banking account.
  2. Fill up the details of your name and PPF account number which the bank asks.
  3. Then transfer the amount to the IDBI PPF account.

IDBI Public Provident Fund Deposit – Offline Process

To deposit the money in your PPF account, you can use this offline method. Visit the IDBI branch and deposit the cash via a cheque or a deposit slip in the bank. Hence, you have made a deposit in your IDBI PPF account.

Updated: March 23, 2017 — 9:01 am

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