Top News

Many people are investing in various schemes today to secure their future. If you’re looking for a reliable investment option, this article introduces the SBI Public Provident Fund (PPF) scheme, which offers attractive interest rates, making it a favorable choice for long-term returns.

SBI PPF Scheme Overview The Public Provident Fund Scheme (PPF) is offered by multiple banks, but SBI’s PPF scheme is particularly beneficial. By opening an account with SBI, your funds are completely safe, and you earn consistent returns. Currently, SBI offers a 7.1% compound interest rate on the PPF scheme deposits, which makes it an attractive choice. Let’s go through the essential details of this scheme, which you should consider before investing.

Flexible Monthly Investment The PPF scheme operates similarly to an RD scheme, allowing you to deposit monthly. Any Indian citizen can start with a minimum investment of ₹500 per month, up to a maximum of ₹1.5 lakh per financial year.

One of the benefits of SBI's PPF scheme is that there is no fixed monthly deposit requirement. You can contribute any amount each month as long as it stays within the minimum and maximum limits.

Returns on ₹1,200 Monthly Deposits Let’s look at an example: if you invest ₹500 monthly for 15 years, you’ll receive a maturity return of ₹162,728. If you invest ₹1,200 monthly, you’ll get a maturity return of ₹390,548. For those who invest ₹5,000 monthly, the maturity return is ₹1,627,284. With an investment of ₹10,000 monthly, the maturity amount goes up to ₹3,254,567.

How to Open a PPF Account SBI provides its customers with multiple ways to open a PPF account. You can visit the nearest SBI branch or use the SBI YONO app to open an account online from the comfort of your home.