ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Personal Finance News

How to become rich: This tax season open a PPF account, this is what ICICI Bank offers you

PPF scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax .

  • Twitter
  • Facebook
  • GPlus
How to become rich: This tax season open a PPF account, this is what ICICI Bank offers you
Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year. Photo: Pixabay
By ZeeBiz WebTeam
Updated: Thu, Feb 14, 2019
10:21 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Income Tax Return (ITR) filing: This much TDS you pay on income from Post office savings, PPF, Sukanya Samridhi, Kisan Vikas Patra saving account; but there's a catch Income Tax Return (ITR) filing: This much TDS you pay on income from Post office savings, PPF, Sukanya Samridhi, Kisan Vikas Patra saving account; but there's a catch
 7th Pay Commission: Should govt employees invest in Public Provident Fund (PPF)? Know how much you earn on Rs 500, Rs 1000, Rs 5000 deposits 7th Pay Commission: Should govt employees invest in Public Provident Fund (PPF)? Know how much you earn on Rs 500, Rs 1000, Rs 5000 deposits
Forget Public Provident Fund (PPF), some Fixed Deposit (FD) plans offer higher interests! Should you invest? Forget Public Provident Fund (PPF), some Fixed Deposit (FD) plans offer higher interests! Should you invest?
Small savings scheme interest rate to rise! PPF, NSC, Sukanya Samriddhi, other schemes will earn more from today Small savings scheme interest rate to rise! PPF, NSC, Sukanya Samriddhi, other schemes will earn more from today
PPF interest rate and some tips: One of the best options for a taxpayer PPF interest rate and some tips: One of the best options for a taxpayer

How to become rich: There are always ways to make money to fulfill dreams like buying a house or your favorite vehicle. These desires can be fulfilled by investing in equities. There is no doubt, that stock markets are money making machines. However, stock markets may have their glory, but they also have their own dangers as they come without any guarantee of generating profits for you. If you are not among the risk takers and want a safe and secure future investment, there are plenty of other options. The Indian economy is vast, and there are a bundle investment tools that can help you generate better earnings. One of which is planning for retirement. If you are planning to go for a retirement scheme, then Public Provident Fund (PPF) is the answer to all your prayers.

Private lender ICICI Bank through its twitter account encourages customers to open an PPF account in order to save big on taxes. 

The bank says, "#ThisTaxSeason, invest your hard earned money by opening a PPF account with #ICICIBank and strengthen yourself financially."

#ThisTaxSeason, invest your hard earned money by opening a PPF account with #ICICIBank and strengthen yourself financially. Know more and open your account now: https://t.co/MjblsXCVn5 pic.twitter.com/XZ64gf00ki

— ICICI Bank (@ICICIBank) February 13, 2019

PPF scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax. Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account.

Here's what ICICI Bank offers you:

PPF account can be opened by resident Indian Individuals and individuals on behalf of minors.

If you hold a joint account or wish to open a PPF account for a minor, you need to fill the requisite form and submit it along with the KYC documents to the nearest ICICI Bank branch.

Features:

  • Attractive interest rate of 8.0% that is fully exempted from Income Tax under section 80 C
  • Good long term investments of 15 years
  • Deposit Amount as low as Rs.500  and maximum Rs.1,50,000 in one financial year
  • Deposits can be done maximum in 12 transactions
  • Loan can be availed between 3rd to 6th financial year
  • Partial withdrawal facility can be availed from 7th financial year onwards
  • Account can be extended in a block period of 5 years after maturity
  • Deposits to Public Provident Fund (PPF) Accounts can be made in the form of cash, cheque , online funds transfer from ICICI Bank Savings Account and Fund transfer from other bank accounts through NEFT.

Benefits:

  • Transfer funds online option from linked Savings Bank Account
  • Standing  Instruction facility to ensure regular investment
  • Viewing your PPF Account statement online

Almost all taxpayers are aware that under Section 80C, one can save tax on only up to Rs 1.5 lakh. The similar exemption is offered for having a PPF account. Such amount can be claimed in a taxpayers Income Tax Return (ITR) filing.

Hence, why wait for tomorrow, make an effort and invest today in PPF account for your retirement. Retire a crorepati!

TAGS:
Public Provident Fund (PPF)PPF accountICICI Bank
RELATED NEWS
Income Tax Return (ITR) filing: This much TDS you pay on income from Post office savings, PPF, Sukanya Samridhi, Kisan Vikas Patra saving account; but there's a catch Income Tax Return (ITR) filing: This much TDS you pay on income from Post office savings, PPF, Sukanya Samridhi, Kisan Vikas Patra saving account; but there's a catch
 7th Pay Commission: Should govt employees invest in Public Provident Fund (PPF)? Know how much you earn on Rs 500, Rs 1000, Rs 5000 deposits 7th Pay Commission: Should govt employees invest in Public Provident Fund (PPF)? Know how much you earn on Rs 500, Rs 1000, Rs 5000 deposits
Forget Public Provident Fund (PPF), some Fixed Deposit (FD) plans offer higher interests! Should you invest? Forget Public Provident Fund (PPF), some Fixed Deposit (FD) plans offer higher interests! Should you invest?
Small savings scheme interest rate to rise! PPF, NSC, Sukanya Samriddhi, other schemes will earn more from today Small savings scheme interest rate to rise! PPF, NSC, Sukanya Samriddhi, other schemes will earn more from today
PPF interest rate and some tips: One of the best options for a taxpayer PPF interest rate and some tips: One of the best options for a taxpayer

LATEST NEWS

RRB NTPC Recruitment Notification 2019: Check salary, qualification, application fee, age limit, reservation details for 1.3 lakh posts

How to get a PAN card in India

SBI Sukanya Samriddhi Yojana Account: Opening process, benefits, withdrawal rules explained

HDFC National Pension System calculator: How much you can get with Rs 2000, Rs 5000, Rs 10,000, Rs 12,500 per month investment

ESIC latest decisions: Contribution rates for employees, employers reduced; income limit for medical benefits raised

Uri: The Surgical Strike box office collection silences this record of Sunny Deol's Gadar - Ek Prem Katha, Baahubali 2

Public Provident Fund Investment: How to turn Rs 416/day into Rs 43 lakh, save income tax

7th Pay Commission: Government forms committee to look into pay hike demand of these 2.5 lakh employees

Twitter co-founder Evan Williams steps down from board

Income Tax Payment 2019: Got an expensive gift? Here's why you should keep a documentary proof

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved