Open Union Bank of India PPF Account | UBI PPF Interest Rates – Calculate PPF Maturity Amount

Here you can get Union Bank of India PPF Calculator By which you can know the Maturity amount after completion of 15 years. In our site, we have provided online PPF Calculator. So with this calculator, you can know your Loan and withdrawal amount very fastly. Along with the Union Bank of India PPF Calculator, you can also get the current UBI PPF Interest rates from here. With the help of this new PPF Interest rate, you can able to know the year end return amount of all 15 years. Thus, those who have the interest to open PPF Account can open Public Provident Fund Account by following the below sections.

Union Bank of India PPF Calculator – Maturity Amount

The Union Bank of India is an online tool which is provided on our site to calculate the return amount. The candidates those who are having PPF Account can only use the PPF Calculator which is present in our site. You are so beneficial by Union Bank of India PPF Calculator because within the fraction of seconds you can know the return amount. Also, you will get UBI PPF Calculator on the official site also. But the official site may slow down due to heavy accessing. Thus it is better to use the Union Bank of India PPF Calculator which is present on our site.

It is important to open UBI PPF Account to use the Union Bank of India PPF Calculator which is on our site. So, by following the below sections, you can easily open PPF Account in Union Bank of India. Along with this, you have to know how to use the Union Bank of India PPF Calculator and the UBI PPF Interest rates from below.

How to use UBI PPF Calculator?

  1. Click the below link to get Union Bank of India PPF Calculator.
  2. By clicking on it the Union Bank of PPF Calculator will be opened on the next page.
  3.  After that, you have to enter the required details like
    • Amount which you have invest
    • PNB PPF Interest Rate
    • Select yearly or monthly
  4. Then after entering all details, you have to click on Calculate button. But before clicking on calculate button, you have to check once the values that you have entered.
  5. Lastly, it will display the 15 years year starting and ending amount in the form of tabular form. Also the final maturity amount.

UBI PPF Calculator

Union Bank of India PPF Calculator

Union Bank of India PPF Interest rates

PPF Interest Rates of Union Bank of India
Financial Year from April to March UBI Bank Interest rates on PPF
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 8.10%

From the above table, you can able to know the current Union Bank of India PPF Interest rates. With the help of these interest rates, you can able to calculate the year end PPF Amounts of all 15 years by using Union Bank of India PPF Calculator. Thus, by knowing the year end PPF Amount, you can able to calculate the loan amount and withdrawal amount. In Public Provident Fund only you have an option of Premature withdrawal, but when compared with other savings schemes you don’t have the option. So, by having PPF Account in Union Bank of India is very beneficial.

The candidates can apply for the loan from the 3rd financial year to the 6th financial year on the PPF Investments which you have made. Thus, the current UBI PPF Interest rate is 8.10%. Before knowing all this, you have to know about what is PPF? And what is its’s use? etc. By referring below sections, you can able to know all details about Public Provident  Fund.

UBI Public Provident Fund Scheme

The Public Provident Fund is also savings account like other savings account. But it is a long term saving scheme i.e. 15 years tenure period. Due to the long term saving scheme, you can receive lump sum amount at the end of 15 years. Also, the Public Provident Scheme provides best interest rates per year. As you have opened PPF Account when there is a Particular interest rate, then that particular PPF Interest rate will remain same for all 15 years. For example, If you have started PPF Account in the year 2017 January then the PPF interest rate is 8.10% as mentioned above. Until the completion of 15 years, the interest rate remains same as 8.10%. After completion of 15 years, you can extend PPF Account with a block of 5 years at that time also the PPF Maturity amount is calculated based on the 8.10% interest rate only.

In Public Provident Fund Scheme you have a facility for Premature Withdrawal i.e. you can withdraw the amount from PPF Account from the 7th financial year to till the end.

The UBI Bank is one of the largest government-owned banks in India. The Union Bank of India has started on November 11th, 1919 as a limited company in Mumbai. During at the time of Indepence 1947, the UBI Bank has four branches i.e, three branches in Mumbai and one branch in Saurashtra. The Union Bank of India main headquartered in Mumbai. Now at present, the Union bank of India are led by its branches in Hong Kong and have a newly opened branch in Dubai.

UBI Public Provident Fund Scheme

Eligibility to open PPF Account in Union Bank of India

  • An individual
  • Elder or guardian can open Account on behalf of Minor Child.
  • HUF is not eligible.
  • An individual can open only one account in his/her name.
  • The individuals who are non-residents are not eligible to open Account.

If you have the interest to open PPF Account then you need to check the eligible criteria to open PPF Account. By satisfying, the above mentioned eligible criteria can only open Public Provident Fund Account. Thus, It is very important to check eligible conditions before you start opening PPPf Account.

Documents needed to Open PPPF Account in UBI Bank

  • Documents for Address Proof
    • Electricity Bill
    • Ration Card
    • Telephone Bill
    • 2 Recent Photos
    • Pay in Slip

As Payslip is available at all authorized bank branches to transfer the amount to your newly opened Public Provident Fund Account.

  • Documents for ID Proof
    • Voter ID Card.
    • PAN card.
    • Driving License
    • Passport

Here is the documents list which you have to be submitted along with the UBI Bank PPF account opening application form A. So, you need to check the list carefully. so that you can take the correct documents to the bank then teh verification will be done very quickly.

Note: You have to carry original documents to the bank for verification. The documents which are submitting in the bank should be self – attested. If the PPF Account is opened then Public Provident Fund Account Passbook id provided to you. So, that all the transactions which you have made on PPF Account will be updated in your Passbook.

Union Bank of India PPF Account Opening Process

The Interested people who want to open PPF Account can check the below mentioned procedure. By following the below procedure, you can successfully open Public Provident Fund Account. Here we have provided Online PPF Account Procedure. So, those are interested in opening PPF Account through Online can follow the below steps to complete the process easily.

PPF Account Opening in UBI Bank – Online process

  1. Visit the official site of Union Bank of India or Click here for PPF Account opening Application form
  2.  Then you have to download the application form and have to fill all the details.
  3. After filling all details you have to attach the documents that you need to submit along with the application form.
  4. Later you have to visit any UBI Bank Branch to submit your Application form.
  5. After the completion of verification process, your PPF Account is opened in the Union Bank of India.

Click here to know the Public Provident Fund Account opening Process

Union Bank of India PPF Account Overview

Features Description
Bank Name Union Bank of India
Scheme Name UBI Bank Public Provident Fund
UBI Bank PPF Scheme Duration 15 Years
UBI Bank PPF Interest Rate for 2016-17 8.10%
Maximum number of PPF Account for one Person Only One
Minimum UBI Bank PPF amount per year Rs. 500 per annum
Maximum UBI Bank PPF amount per year Rs. 1, 50, 000 per annum
UBI Bank PPF account Maturity Period 15 Years
UBI Bank PPF Eligibility Any individual

UBI Bank Public Provident Fund Rules and Guidelines

As PPF is a government Scheme so it provides some rules and guidelines to those who are having PPF Account in Union Bank of India. So, you need to follow the rules which have listed below.

  • Tenure Period of UBI Bank PPF Scheme:  The maximum period of Public Provident Fund Scheme is 15 years. Also after completion of 15 years, you can extend your PPF Account with a block of 5 years.
  • Withdrawals: Before the 7th year you don’t have a facility for Premature withdrawal. But after 7th financial year, partial withdrawals are allowed. Thus, the full amount withdrawal can only possible after the completion of 15 years.
  • Investment Amount Limit in PPF Scheme: The minimum amount you have to deposit in PPF Account is Rs.500/- to the maximum amount of Rs.1,50,000/-.

Union Bank of India PPF Account Benefits and Features

Here we have listed benefits & features of having PPF Account in Union Bank of India.

  • Loans: There is a facility to apply for a loan on the PPF Investments you have made. Thus, you can take the loan from the 3rd financial year to the 6th financial year.
  • Nomination Facility: You can nominate one or more persons for the Account. But in the case of Minor PPF Account, there is no facility.
  • Tax Benefits by PPF Account: Under the Incometax Act 1961, the amount which you have invested in PPF Account will not effected by the TAX.

How to transfer PPF Account from the Post office to the UBI Bank

It is a very simple process to transfer PPF Account from the post office to the Union Bank of India. here we have provided steps. So, by following the below steps you can easily transfer your PPFAccount from Post office to the UBI Bank. Firstly, you have to keep request to the post office in the form of Application Form. Then they will approve your request and transfer your account to the UBI Bank. After the documents are verified then the bank will activate and possess your PPF Account.

 

Updated: March 25, 2017 — 10:07 am

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