Welcome To Odisha Postal Circle

                          PUBLIC PROVIDEND FUND
Period During which opened Minimum Amount of Deposit in a Year  (Rs)  Maximum Amount of Deposit In a Year   (Rs) Rate Of Interest
From To
01.04.1986 14.01.2000     100 60,000         12.0%
15.01.2000 28.02.2001     100 60,000         11.0%
01.03.2001 28.02.2002     100 60,000           9.5%
01.03.2002 14.11.2002     100 60.000           9.0%
15.11.2002 28.02.2003     500 70,000           9.0%
01.03.2003 onwards     500 70,000           8.0%
FEATURES:-
  • Only one account can be opened in the name of a person.
  • 12 deposites can be made in a financial year.
  • Minimum deposites in a year is 500 rupees and maximum is Rs 70,000/-.
  • Loan is admissible from the third financial year.Loan amount is limited to 25% of the balance at the end of 2years of preceding.
  • Fresh loan is not allowed when previous loan or interest thereof is outstanding. 
  • Interest is charged at the rate of 1% if prepaid within 36 months and at 6% on the outstanding loan after 36 months.
  • Withdrawal is permissible  from seventh financial year from the year of opening,limited to one in a financial year.
  • Amount of withdrawal is limited to 50% of balance at the end of fourth preceding year less amount of outstanding loan or 50%  of balance at the end of immidiate preceding year of withdrawal less amount of outstanding loan,if any whichever is less.
  • A subscriber can close the account in the 16th financial year.The account can also be continued with or without subscription,for further blocks of 5 years.
  • Deposits are qualified for Income Tax Rebate under section 88 of Income Tax Act.
  • Deposits completely exempted from wealth tax.Interest is completely tax free under section 10 of Income Tax Rebate.
  • Default fee Rs 50 will be charged if no deposit is made during a financial year.