The PPF account holder needs to deposit the minimum amount of Rs 500 every year in the PPF account to keep the account active. If he misses depositing Rs. 500/- in any financial year, his PPF account will become inactive.
Following facilities cannot be availed by the PPF account holder, if his PPF account is inactive:
In order reactivate the inactive PPF account, the PPF account holder has to pay a penalty of Rs. 50/- per year for all those years during which the account was inactive along with the arrears of minimum subscription of Rs. 500/- for each such year.
After the revival of account, the interest will be calculated on the balance held in the account at time of revival.
2017 April 29 is a bank holiday in Karnataka due to Basava Jayanthi.
2017 May 01 is a bank holiday in Andaman And Nicobar Island due to Maharashtra Din/May Day.
2017 May 09 is a bank holiday in Andaman And Nicobar Island due to Birthday Of Rabindranath Tagore.
2017 May 10 is a bank holiday in Chhattisgarh due to Buddha Pournima/Sakewa.