Public Provident Fund (PPF) Scheme Quiz

Who is eligible to open an account under the Public Provident Fund (PPF) Scheme?

• Non-resident Indians (NRIs)

• Hindu Undivided Families (HUFs)

• Individuals above 18 years

• Joint account holders

What is the minimum deposit required to open a PPF account in a financial year?

• Rs 2000

• Rs 1500

• Rs 500

• Rs 1000

How long is the duration of a PPF account before it can be extended for another block period of 5 years?

• 10 years

• 15 years

• 20 years

• 25 years

At what rate is the interest credited to the PPF account at the end of each financial year?

• 5%

• 6%

• 7%

• 8%

What is the penalty for a discontinued PPF account to be revived during its maturity period?

• Rs 100

• Rs 150

• Rs 50

• Rs 200

What is the maximum percentage of the balance at credit that can be withdrawn during a block period of 5 years?

• 50%

• 70%

• 40%

• 60%

Under what circumstances can an account holder be allowed premature closure of their PPF account?

• Buying a new house

• Traveling abroad for vacation

• Higher education of the account holder

• Starting a new business

What is the tax benefit associated with contributions to a PPF account?

• Exempted from Wealth Tax

• Exempted from Sales Tax

• Exempted from Income Tax

• Exempted from Property Tax

What is the penalty for not submitting PAN within six months of opening a PPF account?

• 50% reduction in interest rate

• Loss of all deposited funds

• No penalty

• Account closure

What is the fee for issuing a duplicate pass book for a PPF account?

• Rs 100

• Rs 25

• Rs 75

• Rs 50