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POSTED BY ON July 31, 2012 11:50 am COMMENTS (4)
Dear Manish,
I have opened a PPF account in SBI and paid in cash Rs 1000/ for initial deposit towards opening the account on 30 July 2012.
After opening an account I have given a cheque of Rs 99,000 of Bank of india for further investment.
The accounting officer denied to take the cheque and informed that only 1 entry per month and have to invest in next month.
Pls suggest me, if i can invest on 5th or 6th August or I have to wait till 30 th August 2012 for next payment.
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Dear All,
Thanks for ur suggestions.
The SBI staff is ignorant of the rules . please carry the rule book with you and show him/her
There is no such rule as only one investment per month. The only rule is maximum 12 deposits in a financial year.
I had opened an account on 25-Jan and on 29-Jan, I made my second deposit.
You can deposit anytime in the month of August. Before 5th August would be a better choice as you will get interest for that month also.