Is PPF safe in PNB bank?

Public Provident Fund (PPF) is a long-term savings plan which is backed by the Government of India. A PPF account gives you complete security with attractive interest rates and tax-free returns.

Can I open PPF in PNB?

To open a PPF account online in PNB, you need to have access to the PNB Net banking portal. Once you get the log-in credentials from the bank, visit pnbindia.com and enter the secure User ID and password to login. Step 2: Go to ‘My short-cut’ option, click on the PPF account tab and then click on ‘Open a PPF Account’.

What is PPF PNB bank?

Punjab National Bank’s Public Provident Fund (PPF) is a great investment scheme which provides a substantial return and offers tax benefits. You can invest a minimum of Rs. 500 to a maximum of Rs. 1,50,000 in a financial year. This Scheme is operational in all branches of PNB with a lock-in period of 15 years.

Is Punjab National Bank shutting down?

PNB to shut down 200 to 300 loss-making branches in next 12 months. As a part of its consolidation plan, the country’s largest public sector lender Punjab National Bank (PNB) has planned to close down, merge or relocate about 200-300 of its loss-making branches over the next 12 months.

Is it safe to deposit money in PNB bank?

“For a retail depositor there is no need to panic. Even if the NPA level had been higher than what it is, the safety of bank deposits is sort of supported by the sovereign. Default (on deposits) is ruled out,” Gupta said.

What is interest rate of PPF in PNB?

7.1\%
The applicable rate of interest on a PPF Account is 7.1\% and the interest is accrued on the minimum balance in the account within the fifth and last day of March every year. The amount is credited to the PNB PPF account by the 31st of March annually.

Can I deposit PPF online in PNB?

It can be done online via Net-banking. You need to have a PPF account number and the IFSC of the bank branch with which the PPF account is held. NEFT can be done from both savings and current accounts.