This article offers a brief summary of the key aspects of the Canara Bank‘s Public Provident Fund schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
Canara Bank – Public Provident Fund Features:
- The initial minimum deposit for opening an account is Rs. 500. The account allows deposits ranging from Rs. 500 to Rs. 1,50,000 in a Financial Year.
- Deposits can be made either as a lump sum or in multiple instalments in multiples of Rs. 50.
- The account’s duration extends for 15 years from the end of the Financial Year in which it was opened (i.e., from April 1st to March 31st).
- Extension of the account is permitted for one or more block periods of 5 years, provided the request is made within 1 year from the account’s maturity.
- At the time of opening the account or before its maturity, a depositor can nominate one or more individuals, not exceeding four, as nominees.
- The account allows for the transfer of funds according to the scheme guidelines. Withdrawal and loan facilities are also available based on the scheme guidelines.
How to invest?
Click here to invest in the Canara Bank’s Public Provident Fund schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.