A Public Provident Fund (PPF) account is a long-term investment scheme backed by the Government of India. It offers tax benefits under Section 80C of the Income Tax Act and ensures a secure and stable return. Yes Bank, one of India’s leading private sector banks, provides the facility to open a PPF account, allowing customers to grow their savings with attractive interest rates and tax advantages.
Opening a PPF account in Yes Bank is a simple process. You can choose to open the account either online or by visiting the nearest Yes Bank branch. Here are the steps to open a PPF account:
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To open a Yes Bank PPF Account, you need to provide the following documents:
To open a PPF account in Yes Bank, you must meet the following eligibility criteria:
The PPF scheme has a lock-in period of 15 years. However, partial withdrawals are allowed after 5 years.
You can make deposits either in a lump sum or in installments, with a maximum of 12 deposits per year.
You can avail a loan against the PPF balance between the 3rd and 6th financial year.
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Opening a Yes Bank PPF Account is an excellent option for individuals looking for a secure and tax-efficient long-term savings plan. The scheme ensures steady growth with a fixed interest rate, coupled with tax benefits under Section 80C. The flexibility in deposit options, loan facility, and withdrawal provisions makes it one of the most preferred investment avenues for Indian citizens. If you are looking for a risk-free investment option with guaranteed returns, the Yes Bank PPF account is a suitable choice.
Yes, Yes Bank provides an online facility to open a PPF account through net banking and mobile banking services.
The minimum deposit required to open a PPF account in Yes Bank is INR 500 per year.
The expected PPF interest rate for 2025 is around 7.1%, compounded annually. However, this is subject to change based on government notifications.
Yes, partial withdrawals are allowed after 5 years, and full withdrawals can be made after 15 years.
Yes, loans can be availed from the 3rd to the 6th financial year against the PPF balance.
Yes, the investment, interest earned, and maturity amount are completely tax-free under Section 80C of the Income Tax Act.
Yes, you can extend your PPF account in blocks of 5 years, with or without further contributions.
If the minimum deposit of INR 500 is not made in a financial year, the account will be considered inactive. A penalty needs to be paid to reactivate the account.
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