Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
You can open PPF account in any one Branch of State Bank of India. You have to produce one Id proof and one residential proof.
The duration of the account is 15 years and tax rebate is available
During one year you can deposit maximum Rs.70000/- in one year and it can be deposited in one instalment or you can deposit in 12 instalments i.e. once every month. It is not essential that the instalment may be the same. It is also not necessary to deposit Rs.70000/- in the year. It can be less also and random during 15 years for which you will have to open the account.
You can also earn a small commission for depositing the amount in your account if you open the account through an authorised agent appointed by govenment of India.
you can open a PPF account with SBI.The minimum amount is Rs.500/- and maximum limit is Rs.70000/-.It allows tax reduction.Every year you have to deposite a minimum amount (ie Rs.500/-).The period of this account is 15 years.
it is appreciable that you are interesting to open a ppf account
the only benefit of the ppf account is that it can not be attached by any court in india except income tax department
otherwise there are so many options available to earn more interest
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