Here is the Indian Bank PPF Calculator to help you calculate the maturity or the annual returns on the PPF account. You can also get the current interest rate of Indian Bank PPF. We have also listed the Indian Bank PPF rates for various financial years. So, keep reading the article to make use of the information of PPF interest rates and the Indian bank PPF account calculator.
Indian Bank PPF Calculator
The Indian Bank PPF interest calculator is an excellent online tool to make an estimation of per year investment. It also helps you know the amount of money which you will receive at the end of your tenure period. However, knowing the returns and investments makes your work of planning the finances easy. So, to use the Indian Bank PPF rates calculator, you should know the parameters like annual investment, current PPF rate of interest in the Indian bank. Then the PPF calculator gives you the final annual return that you will receive at the end of PPF tenure.
To know the parameters like Indian Bank Public provident fund interest rates, read the below sections. So, here we have given you the steps to use the PPF calculator of Indian Bank.
How to Use Indian Bank Public Provident Fund Calculator?
- Click the below link to Indian bank PPF calculator.
- The Indian Bank PPF interest rate calculator appears on your screen.
- Enter the details of investment and type of subscription in the columns.
- Recheck for any mistakes in the details and then click “calculate.”
- Within a few seconds, the calculator for Indian Bank PPF displays the maturity amount on your PPF account.
So, to use the Indian Bank PPF Calculator, click the below link.
Indian Bank PPF Account Interest Rate
|PPF rates of interest in Indian Bank|
|Financial Year||Indian Bank rates on PPF|
|April 2000 to 2001 March||11.0%|
|April 2001 to 2002 March||9.5%|
|April 2002 to 2003 March||9.0%|
|April 2003 to 2004 March||8.0%|
|April 2004 to 2005 March||8.0%|
|April 2005 to 2006 March||8.0%|
|April 2006 to 2007 March||8.0%|
|April 2007 to 2008 March||8.0%|
|April 2008 to 2009 March||8.0%|
|April 2009 to 2010 March||8.0%|
|April 2010 to 2011 March||8.0%|
|April 2011 to 2012 March||8.6%|
|April 2012 to 2013 March||8.8%|
|April 2013 to 2014 March||8.7%|
|April 2014 to 2015 March||8.7%|
|April 2015 to 2016 March||8.7%|
|April 2016 to 2017 March||8.1%|
Indian Bank offers the attractive rate of interest on Indian Bank PPF scheme. The rate per annum is 8.1% for the financial year of 2016-17. This rate is more than any other term deposit schemes. Moreover, the annual returns on this scheme are completely tax-free.
So, to know the interest rates of other banks, click the below link.
About Indian Bank PPF Scheme
Indian Bank is on of the leading public sector banks in India. It has over 107 years of history in the Swadeshi movement. The bank has over 19,429 employees with a network of 2,250 core banking solutions across India. A total business of worth Rs.2,86,633 Crores and a profit of Rs.2,901 crores makes the Indian bank.
The banks offer various banking services like fixed deposits, PPF, etc. to serve all the category of customers. Indian Bank PPF account is apt for those who want to earn a good sum of money in a year with low investments. However, the public provident scheme is similar to the term deposits, but it has some differences. To know the features of PPF account in Indian Bank, read the following sections.
Overview of Indian Bank Public Provident Fund Scheme
|Bank Name||Indian Bank|
|Scheme Name||Indian Bank Public Provident Fund Scheme|
|Indian Bank PPF Scheme Duration||15 Years|
|Indian Bank Interest Rates for PPF Account||8.1%|
|Minimum Indian Bank PPF annual amount||Rs. 500 per year|
|Maximum Indian Bank PPF annual amount||Rs. 1, 50, 000 per year|
|Indian Bank PPF account Maturity Period||15 Years|
|Indian Bank PPF Eligibility||Any individual|
So, to know some other benefits of PPF scheme of Indian Bank, click the below link.
How to Open Indian Bank PPF Account Online?
- Visit the official website for Indian Bank online PPF account opening.India
- Fill in the Indian Bank PPF account opening form.
- Take a print of this form and submit it along with some documents in any of the Indian Bank PPF account branches.
- The documents like address proof, ID proof, Photographs, etc. should be submitted.
- Then the designated branch of Indian Bank authorised by the ministry of finance.
So, to know other details of PPF account opening in Indian Bank, click the below link.
Documents for Indian Bank Public Provident Fund Account Opening
To open a PPF Account with Indian Bank, you should submit a certain pack of documents to the bank. You should submit these documents along with the PPF account opening form. So, below is the list of documents to apply Indian Bank PPF scheme.
- Form A of PPF opening.
- Passport size photograph.
- PAN, Aadhar card.
- Address proof like the passport or the electricity bill.
Indian Bank Account Opening Form of PPF
The Indian bank PPF form is also called the form A. It has two parts in which one takes the applicant information and the other takes the nominee details. You need to fill the basic details like name, permanent address, PAN card information, initial contribution, etc. Additionally, the details like debit account number, standing instructions, the name of the branch, etc should also be filled.
Features of Indian Bank Public Provident Fund Account
- There is a facility of nomination for your PPF account. If the account holder dies, then the PPF amount will be handover to the nominee.
- The Indian bank interest on PPF is completely free from income tax. This is under section 88 of the Income Tax Act.
- Additionally, Indian Bank Maturity amount on PPF is completely free from wealth tax.
- One can transfer the Indian Bank PPF account from any post office to other bank or from a bank to the post office.
- You can take a loan against PPF account between the third and sixth financial year from the account opening. Even after the loan application, you can know your maturity amount with the use of Indian Bank PPF Calculator.
- Moreover, premature withdrawal of the amount is allowable only for 50% of the amount. This can be done only from the seventh year of PPF account opening.