India
Public provident fund : Government Bank’s Big Announcement on PPF Accounts; Gift before Diwali
Public provident fund : A big announcement has come from the government bank about PPF i.e. Public Provident Fund. Bank of Maharashtra has announced that it has now made it easier for citizens to open PPF Accounts.
Now anyone can easily open their PPF account with Bank of Maharashtra through internet banking, the bank said. Bank of Maharashtra has stated on its website that PPF accounts can be opened easily at all branches in Maharashtra.
In this context Bank of Maharashtra informed that only one account can be opened in one name. Opening of two accounts by mistake will be treated as irregular account and no interest will be paid to the customer on these accounts.
It is important to know that PPF is considered as one of the popular long-term savings schemes. Now 7.1 percent interest is being paid on it. From now on, this facility will also be available at Bank of Maharashtra.
Public Provident Fund is considered as an excellent scheme for small investors. Because you can invest less money in it and get good income. A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited in the PPF account every year.
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