What is 15 year PPF Post Office account?
- As of 01.07.2019 the rate of interest payable is 7.9% per annum. This interest is tax-free.
- You need a minimum of Rs 500 to open a PPF account in a post office.
- This account requires a minimum of Rs 500/- and a maximum of Rs 1,50,000 in a financial year
- Deposits can be done in 12 instalments or lump-sum.
- This type of scheme does not allow joint accounts. The account is transferrable and offers nomination facilities
- The account will mature after fifteen years. Before that, you cannot close the account.
- From the third financial year of the account, you can avail loan facilities.
Check total wealth you can create using Post Office PPF calculator