Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Scheme typeGovernment of India Public Provident Fund Scheme 2019 account serviced by SBI
Source 1EligibilityAn individual may open in their own name or on behalf of a minor or person of unsound mind
Source 2Annual contributionMinimum ₹500 and maximum ₹1,50,000 per year, paid as a lump sum or instalments
Source 3Original term and extension15 years, extendable on application for one or more five-year blocks
Source 4Current government-set PPF rate7.10% p.a. for 1 July through 30 September 2026Effective 1 Jul 2026
Source 5Interest calculation and creditCalculated on the minimum balance between the fifth day and month-end; paid on 31 March each year
Source 6Loans and withdrawalsPermitted subject to account age, specified dates, balances and current PPF Scheme rules
Source 7Premature closure groundsForm 5 application for life-threatening disease, higher education or change in residency status, with the supporting evidence prescribed by the scheme
Source 8NominationOne or more nominees with defined shares; offline at the home branch or online through SBI internet banking
Source 9TransferabilityTransferable on request among SBI branches, other eligible banks and post offices, and vice versa, without a service charge
Source 10Latest government rate notificationFor 1 July-30 September 2026, interest rates on Small Savings Schemes remain unchanged from the rates notified for 1 April-30 June 2026. The one-page Q2 memorandum does not repeat the scheme-wise rate table, so it is evidence of continuity and not an independent source for numeric scheme rates.Effective 1 Jul 2026
Source 11Benefits and features
- Government-set quarterly interest rate
- Fifteen-year term with repeat five-year extensions
- Annual contributions from ₹500
- Scheme-permitted loan and withdrawal access
- Transfer among eligible banks and post offices
- Online or branch nomination
Eligibility
- PPF is a Government of India small-savings scheme serviced by SBI, not an SBI fixed deposit.
- The government reviews the rate quarterly; the displayed 7.10% applies through 30 September 2026.
- Current scheme rules govern residency, account count, loan, withdrawal, closure and tax treatment; SBI directs customers to the National Savings Institute for the latest instructions.
- Excess annual contribution above ₹1.5 lakh neither earns interest nor receives the stated tax rebate.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- KYC and PPF account-opening documents required under the current scheme and selected SBI channel
- Guardian and beneficiary documents where opening for a minor or person of unsound mind
- Form 5 and supporting medical, admission/
fee or residency-status evidence for an eligible premature-closure request - Applicable nomination form for an offline nomination request