Post office investment scheme has come with many investment options, in which post office PFF is the one. This scheme is easy to enroll and best suits for the ruler people of India. If you are seeking for the risk-free investment, then Post office PFF is the best option for you.
Everyone who wants to fix decent returns and looking for the risk-free investment product than without thinking much open a PFF Account Online in Post Office. An enrolling process of post office PFF is hassle-free, PFF withdrawal is also simple and there is no chance of losing money because it is backed by the government.
Features of Post Office PFF
- It is a long term investment for 15 years and currently offering a rate of interest 8% respectively.
- For opening an account there will be a no age issue.
- Individuals can open an account with a minimum amount of Rs.500 and maximum amount Rs. 1.5 Lakhs annually.
- Only one individual can open one PFF account.
- Investors can avail the request of loan against the PFF account.
- In case of an emergency like illness, an investor can take out deposited money after 5 years of completion. Additionally, they have to pay some penalty.
- Since this scheme is long term oriented, hence it helps investors financially at the time of retirement and financial planning.
- This scheme gives you a better return that you will not get from other risk-free investment.
- Any individual who is workable or not and resident of India is allowed to open an account.
- An NRI is not allowed to open the PFF account.
- PFF withdrawal process is very simple. You can withdraw money after 5 years completion.
- Either the mother or father can open post office PFF account, not both.
Document Required to Open Post Office PFF Account
- ID Proof; Voter ID, Driving license, Aadhar Card, etc.
- Address Proof; Voter’s ID, Passport, Aadhar Card and Driving License, etc.
How to open PFF account in Post Office?
The process to open PFF account in the post office are mentioned below;
- Go to the nearest post office branch and get an account opening application PFF form.
- Once you have filled the form reach to the post office and open an account with minimum Rs. 500 and the maximum amount Rs. 1.5 lakh.
- Once you submitted all the formalities and account opening amount, you will receive a passbook from the Post office and account related credentials.
Investing in the PFF post office account is very fruitful. Since it is risk-free and affordable, any individual of India can open a PFF account. For more information, you can read more FinanceWikki investment based blogs.