Please read and agree with the disclaimer before proceeding further. This is to inform you that by clicking on the "Accept" button, you will be accessing a website operated by a third party namely. Such links are provided only for the convenience of the client and Axis Bank does not control or endorse such websites, and is not responsible for their contents.
The use of such websites would be subject to the terms and conditions of usage as stipulated in such websites and would take precedence over the terms and conditions of usage of www.
Any actions taken or obligations created voluntarily by the person s accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken. Thank you for visiting www. It is a tax saving plus long term investment vehicle. Investment in public provident funds qualifies for tax benefits under Section 80C of the Income Tax Act, One can invest in public provident funds through post offices or any authorized banks.
Axis Bank is one such bank where one can open a PPF account. The Axis PPF interest rate is 7. It is announced by the Ministry of Finance every quarter. The interest rate on PPF account in Axis bank is compounded annually. One can estimate their returns from investment in a public provident fund using a PPF calculator. The interest that one earns on PPF is completely exempt from tax. Moreover, the maturity amount also qualifies for tax benefits as per the Income Tax Act, Axis bank public provident fund account opening can be done either through offline or online mode.
Following is the eligibility criteria:. However, investors can partially withdraw their PPF investment or even take a loan against it. And the maximum amount of investment in the bank PPF is Rs 1,50, in a financial year. One can invest the amount in a lump sum or in instalments. One can transfer their Axis bank PPF to another branch, or they can transfer to the post office and vice versa by writing the application mentioning the following details:.
Bank and branch address along with IFSC code of current bank and the bank where it is to be transferred. One can fully withdraw their investment in PPF at the time of maturity. The interest on the PPF is calculated based on your balance in your account before the fifth of every month.
So ideally, make your deposit before the fifth of the month to get maximum benefit. Any deposit made after that will not earn interest for that particular month. The minimum amount that must be invested in a PPF account is Rs and the maximum is Rs 1, 50, in a year. On maturity, the account can be extended for a 5-year period. There is no limit to the number of times the account can be extended.
An individual can have only one PPF account in their name. When doing this please remember that the total investment in both PPF accounts should not exceed Rs 1,50, in a year. You can also invest in your PPF account online through internet banking! At your request, you are being redirected to a third party site. Please read and agree with the disclaimer before proceeding further.
This is to inform you that by clicking on the "Accept" button, you will be accessing a website operated by a third party namely. Such links are provided only for the convenience of the client and Axis Bank does not control or endorse such websites, and is not responsible for their contents.
The use of such websites would be subject to the terms and conditions of usage as stipulated in such websites and would take precedence over the terms and conditions of usage of www. Any actions taken or obligations created voluntarily by the person s accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken.
Thank you for visiting www. Participation to group insurance is voluntary.
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