[suman]

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Hello sir, is there any one can show me here rules for Public Provident Fund of ICICI bank? Which Public Provident Fund rules are provided in ICICI bank?

[Vishal Kotkar]

The ICICI bank is offering Public Provident Fund scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax.

In this scheme Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account.

Eligibility:
Public Provident Fund (PPF) account can be opened by resident Indian Individuals and individuals on behalf of minors

If you are an existing customer, you will need to fill the form and submit it with the KYC documents to the nearest ICICI Bank branch.

ICICI PPF account rules and guidelines
Tenure of ICICI PPF scheme
PPF schemes available across all post offices and all authorized banks, ICICI PPF scheme offers a standard scheme tenure of 15 years. After 15 years, PPF account at ICICI can be extended in blocks of 5 years upon request by customer.

Investment limit on ICICI PPF account
The investment limit on ICICI PPF account for any customer is Rs.1,50,000 per year. Any amount above this amount is not eligible to earn any interest.
The minimum amount which can be deposited in the PPF account per annum is Rs.500.

Apply for ICICI bank PPF:
savingsaccount.icicibank.com/SBAOF/newcustomer.action

Features

Attractive interest rate of 7.9% that is fully exempted from Income Tax under section 80 C
Good long term investments of 15 years
Deposit Amount as low as Rs.500 and maximum Rs.1,50,000 in one financial year
Deposits can be done maximum in 12 transactions
Loan can be availed between 3rd to 6th financial year
Partial withdrawal facility can be availed from 7th financial year onwards
Account can be extended in a block period of 5 years after maturity