Tamil Nadu government has launched the Ponmagan Podhuvaippu Nidhi Scheme for all male citizens of the state. Under this scheme, parents or guardians can open a savings account in the post office in the name of their son. The minimum deposit amount in the scheme is relatively low so that all sections of people can avail its benefits. The interest rate under the PPNS scheme is higher than that of a normal savings account of any bank in India. If you want to open your savings account under the Ponmagan Podhuvaippu Nidhi Scheme. So today we will tell you how to open a savings account, what will be the interest rate, its eligibility, benefits, and documents. To know about etc., stay on the article till the end.
Ponmagan Podhuvaippu Nidhi Scheme 2024
Tamil Nadu government has launched the Ponmagan Podhuvaippu Nidhi Scheme for male citizens. Through this scheme, boys of Tamil Nadu state can open a savings account in the post office. The minimum deposit amount under this scheme is Rs 500 and the maximum deposit amount is Rs 5 lakh. In which the interest rate is 9.70%. All citizens of Tamil Nadu state who are above 10 years of age can open their account or those who are below 10 years of age can ask their parents to open an account for them. So that people of all sections can take advantage of it.
Money can be deposited regularly once the account is opened, and the amount grows with interest over time. This scheme provides a strong financial foundation to meet future education, marriage, or other financial needs. Along with this, it helps in making children financially self-reliant.
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Ponmagan Podhuvaippu Nidhi Scheme Details in Highlights
| Name | Ponmagan Podhuvaippu Nidhi Scheme |
| Launched by | Chief Minister M K Stalin |
| Beneficiaries | Citizens of the state |
| Objective | Provide saving account |
| State | Tamil Nadu |
| Year | 2024 |
| Application Process | Online / Offline |
| Official website | — |
Ponmagan Podhuvaippu Nidhi Scheme Objective
The main objective of Ponmagan Podhuvaippu Nidhi is to encourage children from poor and underprivileged families, especially boys, towards savings and make their future financially secure. Under this scheme, savings accounts are opened in the name of boys, and they are encouraged to develop the habit of regular savings. This scheme is a means to provide financial assistance for their education and future needs.
Contribution Amount
- Minimum Amount to Open the Account: INR 100
- Minimum Annual Deposits: INR 500
- Maximum Annual Amount: INR 5 lakh
Interest Rate & Maturity Period
- The interest rate under Ponmagan Podhuvaippu Nidhi Scheme (PPNS) 2024 is 9.70% per annum. And its maturity period is 15 years.
Benefits & Features of the Ponmagan Podhuvaippu Nidhi Scheme 2024
- This scheme allows parents to systematically save for their son’s future.
- The amount deposited in this scheme is guaranteed and safe by the government.
- It offers competitive interest rates, resulting in good growth in the deposit amount.
- Parents can make regular deposits at their convenience.
- The age of the boy should be within the prescribed limit at the time of opening the account in the scheme.
- With the help of the scheme, applicants can deposit a deposit of only Rs 500.
- The interest rate under the scheme is 9.70% per annum.
Eligibility Criteria
- To apply, the applicant must be a permanent resident of Tamil Nadu state.
- Citizens belonging to the Economically Weaker Section (EWS) will be considered eligible for this scheme.
- The child should not receive any other financial assistance for education from the government.
- This money will be given to the petitioner only after five years have passed.
- The beneficiary’s bank account should be linked to an Aadhaar card.
Requred Documents to Apply
- Aadhar Card
- Identity Proof
- Address Proof
- Education Certificates
- Bank Account Details
- Income ProofMobile Number
Steps to Apply Online for Ponmagan Podhuvaippu Nidhi Scheme 2024
1st Step:- First, you must go to your nearest post office branch.
2nd Step:- After going to the post office, you will have to get the application form of the PPNS Scheme from the officer.
3rd Step:- After that, all the information asked in the application form will have to be entered carefully.
4th Step:- Now all the documents have to be attached to the application form.
5th Step:- After entering all the information, you will have to go back and submit this application form to the post office.
FAQs
Ponmagan Podhuvaippu Nidhi Scheme has been launched by?
Ponmagan Podhuvaippu Nidhi Schemes has been started by Chief Minister MK Stalin.
In which state has the PPNS scheme been started?
PPNS scheme has been launched in the state of Tamil Nadu.
What is the maximum amount that can be deposited under the PPNS 2024?
Under PPNS 2024, an applicant can deposit a maximum of Rs 5 lakh.