Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Scheme typeGovernment of India Public Provident Fund Scheme 2019 account serviced by SBIView source
states that the 2019 scheme replaced the 1968 scheme; this is a government small-savings account rather than an term deposit.
- Source
- Public Provident Fund ()
- Page / section
- Introduction
- Accessed
- 12 Aug 2026
- Confidence
- high
EligibilityAn individual may open in their own name or on behalf of a minor or person of unsound mindView source
page does not describe joint ownership; current scheme rules control account-count and residency restrictions.
- Source
- Public Provident Fund ()
- Page / section
- Eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Annual contributionMinimum ₹500 and maximum ₹1,50,000 per year, paid as a lump sum or instalmentsView source
warns that an amount above ₹1.5 lakh earns no interest and receives no Income Tax Act rebate.
- Source
- Public Provident Fund ()
- Page / section
- Features and Terms and Conditions — Investment Limits
- Accessed
- 12 Aug 2026
- Confidence
- high
Original term and extension15 years, extendable on application for one or more five-year blocksView source
Extensions require the subscriber's application and run in five-year blocks.
- Source
- Public Provident Fund ()
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Current government-set PPF rate7.10% p.a. for 1 July through 30 September 2026Effective 1 Jul 2026View source
The Ministry of Finance memorandum dated 30 June 2026 keeps all small-savings rates unchanged for ; page identifies the continuing rate as 7.10%. The rate is reviewed quarterly.
- Source
- Government of India Small Savings Interest Rates — 2026-27
- Page / section
- Page 1 — rates remain unchanged from 2026-27; paired with published 7.10% rate
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest calculation and creditCalculated on the minimum balance between the fifth day and month-end; paid on 31 March each yearView source
Deposits made after the fifth may not enter that month's minimum-balance calculation.
- Source
- Public Provident Fund ()
- Page / section
- Terms and Conditions
- Accessed
- 12 Aug 2026
- Confidence
- high
Loans and withdrawalsPermitted subject to account age, specified dates, balances and current PPF Scheme rulesView source
The page does not publish a complete year-by-year loan and withdrawal schedule, so none is inferred here.
- Source
- Public Provident Fund ()
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Premature closure groundsForm 5 application for life-threatening disease, higher education or change in residency status, with the supporting evidence prescribed by the schemeView source
lists the permitted grounds and supporting medical, admission or residency evidence; all other scheme conditions still apply.
- Source
- Public Provident Fund ()
- Page / section
- Terms and Conditions — premature closure
- Accessed
- 12 Aug 2026
- Confidence
- high
NominationOne or more nominees with defined shares; offline at the home branch or online through SBI internet bankingView source
The online path published by is Request & Enquiries followed by Online Nomination.
- Source
- Public Provident Fund ()
- Page / section
- Nomination and Features
- Accessed
- 12 Aug 2026
- Confidence
- high
TransferabilityTransferable on request among SBI branches, other eligible banks and post offices, and vice versa, without a service chargeView source
The page states that the transfer service is free of charge.
- Source
- Public Provident Fund ()
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Latest 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 2026View source
All text, date boundaries and the unchanged-rate qualification from the complete one-page memorandum are retained.
- Source
- Government of India Small Savings Interest Rates — 2026-27
- Page / section
- Page 1 — Office Memorandum dated 30 June 2026
- Accessed
- 13 Aug 2026
- Confidence
- high
Senior-citizen rateNot applicable: the reviewed scheme terms publish a scheme- or programme-specific rate and do not provide a separate senior-citizen rate for this product.View source
The full product terms and applicable rate routes were reviewed; no separate senior-citizen rate is published for these schemes/programmes.
- Source
- government and programme deposit scheme terms
- Page / section
- Scheme interest-rate and eligibility terms
- Accessed
- 29 Aug 2026
- Confidence
- high
Interest payout / redemptionThe government reviews the rate quarterly; the displayed 7.10% applies through 30 September 2026.View source
The manually reviewed product record states: “The government reviews the rate quarterly; the displayed 7.10% applies through 30 September 2026.”.
- Source
- Public Provident Fund Account — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Minimum depositAnnual contributions from ₹500View source
The manually reviewed product record states: “Annual contributions from ₹500”.
- Source
- Public Provident Fund Account — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Benefits 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
- is a Government of India small-savings scheme serviced by , not an 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; 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
- and account-opening documents required under the current scheme and selected 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
Related official documents
Government of India Small Savings Interest Rates — Q2 FY 2026-27government-interest-rate-office-memorandum · current · accessed 12 Aug 2026
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