Ponmagan Podhuvaippu Nidhi Scheme (PPNS)

What is Ponmagan Podhuvaippu Nidhi Scheme (PPNS)?

The term Ponmagan” means “Golden Child”. The Government of Tamil Nadu launched the Post Office Ponmagan Podhuvaippu Nidhi Scheme to assist students facing economic constraints financially. 

The child education plan has successfully provided financial assistance to thousands of students to pursue their education without worrying about the financial burden.

Note: You can use the SIP calculator to calculate returns on your investments.

Features of Ponmagan Podhuvaippu Nidhi Scheme (PPNS)

Let us learn the key features of Ponmagan Podhuvaippu Nidhi Scheme in Post Office from the table mentioned below:

Eligibility Criteria

The eligibility criteria to apply for the Ponmagan Scheme in Post Office are:

Documents Required

To apply for the Ponmagan Podhuvaippu Nidhi Scheme, you must submit the following documents:

• Duly filled application form

• Passport-size Photograph of the Child 

• Income Certificate

• School/ College Certificates (for the current academic year)

• Bank Account Details of the Child

• Residence Proof (Ration Card/ Voter ID Card/ Aadhaar Card)

How to Apply for Ponmagan Podhuvaippu Nidhi Scheme (PPNS)?

Here are the steps to apply for the Ponmagan Scheme at Post Office:

Step 1: Visit the nearest post office branch and collect the application form for the Ponmagan Podhuvaippu Nidhi Scheme

Step 2: Fill in the form carefully and attach all the required documents, such as:

• Identity Proof

• Address Proof

• Education Certificates

• Bank Account Details

• Income Proof. Etc.

Step 3: Submit the filled application form along with the required documents to the post office officials

Step 4: Once the verification process is done, the application gets approved

This makes the child a beneficiary under the Ponmagan Podhuvaippu Nidhi Scheme in Post Office.

Benefits of Ponmagan Podhuvaippu Nidhi Scheme

The key benefits of Ponmagan Scheme of Post Office are:

1. Easy Accessibility 

   The scheme is available at designated post offices in Tamil Nadu and Puducherry, making it easily accessible to people.

2. Low Investment Amount 

   The minimum investment amount for the scheme is Rs. 100, making it affordable for low-income people.

3. Attractive Interest Rate 

   The scheme offers a fixed interest rate, which is usually higher than the interest rates offered by other small savings schemes. The current interest rate offered under the scheme is 9.7% p.a. compounded yearly.

4. Tax Benefits 

   Investors can claim tax benefits under Section 80C of the Income Tax Act for investments made in this scheme.

5. Safe Investment Option 

   The Government of India backs the scheme, making it a safe investment option for financially weaker sections.

6. Guaranteed Returns

   The fixed interest rate provides an assured corpus with high interest earned over time. This will help to fund the educational expenses of the child in future.

Wrapping It Up

Ponmagan Podhuvaippu Scheme is essential to promote inclusive education and ensure that every student is included due to financial constraints. This savings scheme offered by the Government of Tamil Nadu encourages parents/ guardians of economically weaker sections to save for their boys’ education.

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