Ponmagan Podhuvaippu Nidhi Scheme:– Tamil Nadu government always takes initiatives for the welfare of the people. so, they have also started a savings program with the aim to support the boys of the state. Ponmagan Podhuvaippu Nidhi Scheme (PPNS) which was announced on September 15, 2015, will prove beneficial for maximum boys of the Tamil Nadu state. Interested individuals can open an account for this scheme at the post office. The state government started this scheme by keeping in mind the need for males in the state. This scheme can be called a saving program for boys.
Ponmagan Podhuvaippu Nidhi Scheme 2023
Ponmagan Podhuvaippu Nidhi Scheme has launched again with new interest rates. The current rate of interest of the program is 9.70%. Any boy can apply for the scheme with Rs 100 and the deposit maximum 5 lakh. It will be better for an individual to deposit money every month. Boys who are under 10 years can ask their parents to open account, whereas boys over 10 can start the process of account opening by their own. Tamil Nadu is the only state that has started this type of scheme.
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Tamil Nadu PPNS Scheme Overview
| Name of the article | Ponmagan Podhuvaippu Nidhi Scheme |
| Initiated by | Government of Tamil Nadu |
| Launched on | September 15, 2015 |
| Beneficiaries | Boys of Tamil Nadu State |
| State | Tamil Nadu |
| Opening amount | 100 Rupees |
| Scheme type | Saving scheme |
| Benefits | Boys of the state will be able to do savings. |
| Website | https://www.indiapost.gov.in/ |
Ponmagan Podhuvaippu Nidhi Scheme Objective
The main aim of the state government to start this type of scheme is to support the boys of the state. This is the unique initiative taken by the Tamil Nadu government as it will benefit boys of the state.
Benefits of Ponmagan Podhuvaippu Nidhi Scheme
- With the help of the scheme, the boys of the state will be motivated.
- The boys will start saving through this Scheme.
- The amount saved in under this scheme will be used in the future.
- There is option that the guardian can apply for a loan from this account but it is necessary that they should have held the account for four full years previously doing so.
Ponmagan Podhuvaippu Nidhi Scheme Eligibility Criteria
- For this scheme, you can also open a savings account of Rs 100.
- The interest you get in this scheme will be given to you based on the annual compound.
- After the completion of 5 years, the amount will be provided to the receiver.
- There is an option, that an individual can transfer his account to any other name by his wish.
- The account can be transferred only one time to any other individual.
Interest Rates
| Interest rate | 9.70 % |
| Minimum amount | 500 rupees |
| Maximum amount | 5 lakh rupees |
Important Documents
- Duly filled application form
- Passport-size Photograph of the Child
- Income Certificate
- Residence Proof like Aadhar Card/ Ration Card/ Voter ID Card
- School/College Certificates for the current academic year
- Bank Account Details of the Child.
Procedure to Apply for Ponmagan Podhuvaippu Nidhi Scheme
- you have to go to your post office branch, Firstly.
- After reaching office, ask for the Scheme application form from the officials.
- Fill the form by entering asked details.
- Next, attach all the required documents with the application form.
- Finally, you have to submit the application with the required documents to the post office’s concerned officials.
- After the completion of the verification process, the application will be authorized.
- you can apply for the Post Office’s Scheme, By following this process.