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Public Provident Fund(PPF)
  Name of the Scheme

Public Provident Fund Scheme-1968

Tenure of the Scheme

15 years.

Limit of Subscription

Amount not less than Rs.500/- and not more than Rs.1,00,000/- in a year in one lump sum or in installments not exceeding twelve in a year

Rate of interest

8.7%-Compounded annually or as prescribed in the Official Gazette published by the GOI from time to time. Interest is paid on funds deposited before 5th of every month.

Mode of holding

Any individual on his behalf or on behalf of a minor of whom he is Guardian or HUF or an association of persons or body of individuals can subscribe for PPF fund. NRI's cannot open accounts under this scheme.

Tax treatment

The entire amount deposited in to PPF during the financial year is treated as deductible Under Sec.80C of ITR Act.


Account can be transferred from one account office to another. (Inter Bank and intra Bank)

Nomination facility

Nomination facility is available.

Withdrawal facility

Withdrawals from the account can be made any time after the expiry of five years starting from the end of the year in which the initial subscription was made. The loan amount shall not exceed fifty per cent of the amount that stood to the credit at the end of the fourth year immediately preceding the year of withdrawal or at the end of preceding year, whichever is lower, less the amount of loan, if any, drawn by him and which remains unpaid: Only one withdrawal is permitted in a year.

Loan facility

Permitted any time after the expiry of one year from the end of the year in which the initial subscription was made but before expiry of five years. Loan amount not to exceed twenty five percent of the amount to the credit at the end of second year immediately preceding the year in which the loan is applied for.

Repayment of Loan and Interest

Repayable with in 36 months from the first day of the month following the month in which the loan is sanctioned. Repayment can be made in one or in two or more installments.

Application Form and Branches

Click here for application form

Click here for list of branches

Extension of account

Can be extended for a further period of 5 years at the option of the subscriber.

Closure of account

Subscriber can close the account after the expiry of 15 years from the end of the year in which the initial subscription was made.

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News & Events

Click here for Notice of Annual General Meeting and Record Date for Payment of Dividend

Waiver of processing charges in Housing Loans, Car Loans, Two wheeler loans, Consumer durables, Clean Loans for the festive season from 25.09.2014 to 31.12.2014

The existing customer grievance redressal mechanism would also cover the complaints relating to outsourcing

Use your Visa Debit Card for shopping in POS/Online within 3 months of card issuance & get 5% Cash back. Offer applicable to cards issued after December 2013,T&C Apply


You can now donate to Shri Saibaba Sansthan Trust, Shirdi through IMPS-Mobile Banking.

Form 15G/15H has to be submitted afresh at the beginning of each financial year to avail exemption/concession in TDS. Quoting of PAN is mandatory for availing such exemptions/concessions.

All our Banks cheques are payable at par henceforth. We request all our customers to surrender their old cheque books at their account branch and obtain CTS 2010 Standard Cheque books immediately.

We request all our customers who have issued postdated cheques for repayment of loan installments for loans availed by them to replace the old PDCs with new CTS 2010 Standard cheques.

Online Grievance Redressal System with Tracking

Online Applications for MSME and Retail Loans

Online Donations to charitable institutions through net banking

Online resetting of Internet Banking Login Password

Interbank transfer of Funds through Mobile Banking using IFSC code

As per RBI mandate, cash retraction facility is discontinued from our ATMs. Do not forget to collect cash before leaving ATM room.

Any customer of SB/Current Account group could walk in to any branch of the Bank to deposit money in his/her account maintained at any branch and there will be no charges on this for any amount.

Fictitious Offers of Cheap funds from abroad - Awareness Campaign - List of Nodal Agency (Cyber Crime Cell / Economic Offence Wing)

Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad

PPF and SCSS schemes

Do Not fall Prey to Fictitious Offers of Funds Transfer

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