- Attractive Interest Rate of 7.1 % that is fully exempt from tax under Section 80C.
- Good long term investment for 15 years.
- Account can be extended for a block of 5 years after maturity.
- Minimum deposit amount of Rs 500/- and maximum of Rs 1,50,000/- in a Financial Year.
- Maximum limit of Rs 1,50,000/- as mentioned above is combined limit for deposit made by Individual in own account and in account opened on behalf of minor
- If the minimum amount of Rs 500/- is not deposited in any financial year , a penalty of Rs 50/- will be charged.
- Passbook will be issued to customers
- PPF can be transferred from other bank / post office to HDFC Bank
- Option for loan facility and partial withdrawals:
- 50% of the balance can be withdrawn after expiry of 5 years, excluding the first financial year .
- Loan facility can be availed any time between third financial year to sixth financial year i.e. From third financial year up to end of fifth financial year
- Click here to open a PPF account digitally, if you're an existing customer with us ( T&C apply ). You can also Click here to locate the nearest branch around you to open a new PPF account.
- Transfer of PPF account to HDFC Bank
PPF account can be transferred from other bank or Post office to HDFC Bank. In such case, the PPF account will be considered as a continuing account. Below is the process to be followed :
Customer requires to submit PPF transfer request in the bank/post office where PPF account is held
- The existing bank/Post office will arrange to send the necessary documents along with cheque/DD of the outstanding balance in the PPF account to HDFC Bank branch address provided by the customer
- Process at HDFC Bank Branch
Once PPF transfer in documents are received at HDFC Bank, branch official will intimate customer about the receipt of documents.
The customer is required to visit the branch to complete the transfer formalities.