SBI SCHEME 2018 | Public Provident FUND Account | Govt SCHEME | In TELUGU

SBI SCHEME 2018 | Public Provident FUND Account | Govt SCHEME | In TELUGU The Public Provident Fund (PPF) Scheme, 1968 is a tax-free savings avenue that was introduced by the Ministry of Finance (MoF) in India. The scheme is relaunced by pm modi government and interest rate has been reduced. Interest rates: Interest rates are announced by the central government periodically, usually annually. Interest earned is compounded yearly. (The current rate of interest on a PPF account is fixed at 8.1% p.a.) Tenure: 15 years; account continuance is allowed beyond maturity for 5 years at every renewal, with or without making additional deposits. Initial investment/deposit: Rs.100 to open the account Annual Deposit amount: Rs.500 - Rs.1.5 lakhs per year (can be revised as per government directive) Deposit frequency: A deposit has to be made every year, for 15 years, to keep the account active. Failure to make the minimum annual investment will render the account inactive. Deposit modes: Via cash, cheque,PO, DD, online funds transfer; as a one-time deposit or up to 12 installments. Withdrawals: Partial premature withdrawals can be made every year from year 7; withdrawals are subject to conditions. Complete withdrawal of funds can be made only at maturity. Tax advantages: Interests are tax-free and deposited amounts are tax deductible U/S 80C of the Income Tax Act. Withdrawals are exempt from wealth tax. It can be opened in a designated post office or a SBI bank branch. This is a "LONG TERM INVESTMENT". Hope you like this video and subscribe our channel for more updates. ----------------------------------------------------------------------- Support #ToBeFrank for high quality videos Paypal :- [email protected]. Patreon :- https://www.patreon.com/ToBeFrank. -------------------------------------------------------------------------- Join the family Message us on fb :- https://www.facebook.com/ToBeFrankYT. Tweet us :- https://www.twitter.com/ShanukaSrinivas. Google plus :- https://plus.google.com/u/0/+ToBeFrank. Instagram :- https://www.instagram.com/shanuka_srinivas. facebook group :- https://www.facebook.com/groups/896494747172891. -------------------------------------------------------------------------- Note:-Images belong to respective owners and are used for fair purpose.Feel free to contact me about any copyright issue.You can contact me via mail ([email protected]) for business and other queries. THIS VIDEO IS ONLY FOR EDUCATIONAL AND INFORMATIVE PURPOSE.