The Ponmagan Podhuvaippu Nidhi Scheme (PPNS) 2024 was introduced by the state government of Tamil Nadu. The Ponmagan Podhuvaippu Nidhi Scheme (PPNS) 2024 was introduced by the Tamil Nadu State Government to offer financial support to all of the state’s male population. Young men from Tamil Nadu State are eligible to create a savings account at the post office under this scheme. In this article you get every necessary information regarding this scheme including its benefits, eligibility criteria, required documents, overview, interest rate and how to apply online.
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Ponmagan Podhuvaippu Nidhi Scheme 2024
The Tamil Nadu government has introduced a savings scheme for boys. This scheme was launched by the Tamil Nadu government on 15 September 2015. With time, this program’s interest rate has increased and it has been relaunched. The current interest rate is 9.70%. Under this scheme, you may open a boy account for as little as Rs. 100 with a maximum deposit of Rs. 5 lakh. You have to make a deposit every month.
Boys over 10 can open their accounts on their own, while boys under 10 can have their parents do it for them. If you would like your son to benefit from this program, you have to apply. The program is presently only being implemented in Tamil Nadu. A child under 10 years old and his parents may create a savings account at the post office under this scheme.
Overview Of Ponmagan Podhuvaippu Nidhi Scheme 2024
| Name of the Scheme | Ponmagan Podhuvaippu Nidhi Scheme 2024 |
| Launched By | State Government of India |
| Beneficiaries | Citizens |
| Objective | Providing Saving Account |
| Official Website | https://www.indiapost.gov.in/vas/Pages/IndiaPostHome.aspx |
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Objective Of Ponmagan Podhuvaippu Nidhi Scheme
The goal of the Tamil Nadu program is to help boys from low income families with their educational costs. A minimum deposit of Rs. 100 is needed and deposits up to Rs. 1.5 lakh are permitted yearly.
Benefits Of Ponmagan Podhuvaippu Nidhi Scheme
The benefits of the scheme is given below:
- The program’s chosen candidates can create a savings bank account at the post office.
- The scheme aims to incentivize the people of Tamil Nadu to save money.
- Applicants can use the plan to just submit a Rs.500 deposit.
- The application has an annual interest rate of 9.70%.
- In comparison to other savings accounts offered by Indian banks, this one has a comparatively higher interest rate.
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Eligibility Criteria
The eligibility criteria of the scheme is given below:
- The applicant has to be a state of Tamil Nadu permanent resident.
- The applicant must be a Tamil Nadu state citizen of the male gender.
- The applicant must be a member of the EWS, or economically disadvantaged section.
- The government shouldn’t be providing the youngster with any additional funding for their schooling.
- The petitioner won’t get this money till five years have gone.
- You may only transfer your account to another person once.
Required Documents
The required documents of the scheme is given below:
- Identity Proof
- Education Certificate
- Address Proof
- Bank Account Details
- Education Certificate
- Income Certificate
- Mobile Number
Interest Rate
The Ponmagan Podhuvaippu Nidhi Scheme (PPNS) 2024 has an annual interest rate of 9.70%.
Contribution Amount
- Minimum Amount to Open the Account: Rs. 100
- Minimum Annual Deposits: Rs. 500
- Maximum Annual Amount: Rs. 5 lakh
Application Process
- The closest post office branch in the state is the first place that all Tamil Nadu State candidates who wish to apply for the plan should go.
- The applicant must obtain the application form from the relevant official after they have arrived at the closest post office branch.
- Fill out the application form.
- You have to attach all the necessary documents.
- The applicant must promptly check the application after completing it and return it to the relevant authority.
- The applicant will become a scheme beneficiary upon completion of the verification process.
FAQ’s
The Ponmagan Podhuvaippu Nidhi Scheme 2024 was introduced in which state?
The Ponmagan Podhuvaippu Scheme 2024 was introduced by the state government of Tamil Nadu.
What is the scheme maximum amount that may be submitted?
The maximum amount that an applicant may submit under the PPNS 2024 is Rs. 5 lakh.
What is the Ponmagan Podhuvaippu Nidhi Scheme (PPNS) 2024 interest rate?
The PPNS has an annual interest rate of 9.70%.