For the social welfare of Indian citizens Government of India makes various kind of steam for best effort to facilitate welfare and financial assistance to the poor section of the society and because of that, they started various kind of schemes like Sukanya Samriddhi account which helps the poor and weaker section of society and provide financial assistance to more than 10 lac girls by opening their account under this scheme. This scheme catches everyone’s attention throughout the country with the storm. When Sukanya Samriddhi’s account scream was launched in Tamil Nadu state it catches everyone’s attention and receives an extraordinary response from the people of the state. When the scheme was successful in Tamilnadu people demanding various creams like the Sukanya Samriddhi scheme.
And because of that government launch the Ponmagan Podhuvaippu Nidhi Scheme for the Welfare of the Tamilnadu BPL and the weaker section of society E to provide them financial assistance and social welfare. This scheme is more likely than the Sukanya Samriddhi account scheme so so the demand for this Yojana gets more and more attention.
Post Office Savings Scheme for Boy Child
Ponmagan Podhuvaippu Nidhi Scheme is similar to the Sukanya Samriddhi scheme but it is actually public provident fund steam which is now is PPNS scheme. As we compared to Sukanya Samriddhi scheme Ponmagan Podhuvaippu Nidhi Scheme is facilitate for male children of Tamilnadu State. If the age of your male child is is below 10 years then you will able to open this account fit help you for or financial support for the assistance of his graduation. If your male child age is more than 10 years then you will able to open deposit account. But for this scheme, the government does not put any age limit so any children of any age group can apply for this scheme and open the account under the scheme. The main focus of the scheme is to help the male children for their education and other welfare purposes so that they can get fair share of education throughout the state.
Ponmagan Podhuvaippu Nidhi Scheme Features and Benefits
- If your male baby’s age is less than 10 years then his Garden will open his account on behalf of him but if your baby’s age is more than 10 years then he can open an account on their own.
- If your child is minor then rupees 500 in a financial year and a maximum of 150000 deposit can be made or in 12 installments.
- Eligible can open their account in his name and another account of a minor on behalf of the guardian.
- This account will open by cash or cheque in the case or the cheque. The date of the cheque will be e as similar to the date of opening of the account.
- Nomination facility is also available in this account when the time of opening. He will able to transfer his account from one post office to another.
- The current interest rate is 7.8 % per annum police dog maturity period according to the scheme is 15 years but can be a stand within one year of maturity for a further five years or so.
- You will able to withdraw the amount every year from the seventh financial year of opening of the account.
- You will also be able to avail of a loan facility from the third financial year of opening of the account.
Is Ponmagan Podhuvaippu Nidhi Scheme the PPF?
Yes, this is a PPF account but to make the thing is here government changed its name to Ponmagan Podhuvaippu Nidhi Scheme. According to the scheme, the tax deduction will be the same as the normal PPF account under section 80c of income tax law. According to this scheme, the interest rate is 8.7 % for the year. But the interest rate should be varied from year to year according to this scheme. So so the current interest rate of this scheme is 9.70 % per annum. According to this scheme, the parents who are the depositor should be able to apply for a loan on the period of 3rd year of opening of the account. You can easily apply for this came through any nearby post office. This is a kind of PPF account but provides welfare benefits for male children to encourage them to study and educate them for benefit of their future. Which game is only applicable to the citizens of Tamilnadu.
Minimum and maximum amount
According to Ponmagan Podhuvaippu Nidhi Scheme, you will be able to pay the minimum amount of rupees hundred full stop the maximum account according to the scheme with the provided by the government is 1 lakh 50000. You can easily choose what to deposit and how much to deposit and whatever suits you for your children’s pocket for Savings. Disk IMS health the parents 2 you save more money for their children’s for future purposes. Similar to the PPF account the method to time for the scheme is 15 years. In short, we can say that you will able to deposit money and earn interest rate till 15 years. But you can also avail of the loan facilities against this scheme. But if you want to extend this scheme then you will able to do so for more than five years. In case you want to withdraw all money you need to follow the proper set of rules shattered by the government according to the scheme. According to the scheme you are restricted to withdrawal the full amount of money. For that certain laws will create to be observed. Different states have different sets of rules according to the scheme.