How to revive your Public Provident Fund account (PPF), How To Reactivate Inoperative/ Dormant Bank Account How To Activate A Dormant Bank Account With Equity, How to revive (reactivate) your deactivated PPF Account
Public Provident Fund means PPF: it is a 15-year deposit account, which can be opened in any bank or post office. In PPF account you have maintain minimum deposit amount is Rs 500 and maximum One Lack Rupee per year. If any financial year minimum amount is not deposited, it becomes inactive or dormant your PPF. Though the amount lying in the investor's account will continue to accrue interest during this period, the investor will not be able to avail of a loan against the PPF and won't be eligible for a premature withdrawal. If someone wants to resume further investments in the dormant account, it must be reactivated. Here we will tell how you can reactive your PPF Account.
First thing is to revive the account; the investor must give a written request to the bank or post office where the account is held. Along with the reactivation request, the investor must deposit Rs 500 for non-payment in each financial year. For example you are have not maintain 500Rs last four years than you have pay 2000plus penalty of Rs 50 for each year of default is also payable along with the arrears Reactivating revive the account need investor a personal visit for verification by the bank.