How to open PPF account in India

PPF Account or Public Provident Fund Account is a great way to invest money specially for those people who wants to invest small part of their salary for a longer period of time. In this post we will tell you how to open a PPF account and what are the benefits of opening a PPF account.

The PPF Account has its own benefits like :

1. PPF Account can be opened with just 100 Rs
2. It has several Tax Benefits Under section 80C
3. You can take loan on the basis of your PPF account and many more…..

Now the question arises ….

How to open a PPF account?

Who is eligible to open a PPF Account ?

Where to go to open a PPF account ?

So you have to keep in your mind a PPF account can be opened for any salaried or self employed person. You can visit a bank or post office to open a PPF account. If you already have a bank account then you can easily open a PPF account online with easy to follow instruction.

What do you need to do to open a PPF account ?

You will need the following documents to open a PPF Account :

1. Proof of Indentity ( Voter Id /Pan card / Aadhar Card )
2. Proof of Residence
3. Passport Size photo
4. Pay in Slip(available at bank/post)
5. Nomination form

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Who is eligible to open a PPF account ?

A PPF account can be opened for any self salaried person or self employed person or even for a minor child. All that is to keep in mind that the total saving amount should not exceed maximum amount allowed in a year i.e 1.5 Lakh per year.

How to open a PPF account offline ?

If you have a bank account then you can easily create a PPF account online but if you are from one of them who likes to visit the bank offline instead of online then also you can open a PPF account easily just following simple steps:

1. Get the PPF application form from the counter.
2. Fill the form and submit it with all the required documents and the passport size photographs.
3. Deposit the initial amount required to be submitted in the account.
4. Once all the document are submitted with the initial deposit you will be given a passbook for your PPF account. It wiil contain all the necessary information of your account.

However you can also open the PPF account offline by visiting a Post office. All the steps are same as like Bank.

How to open a PPF account Online ?

PPF account online opening process. These stages are for Hdfc bank, but they are also quite similar for other banks….

1. Sign in to HDFC Bank NetBanking.
2. Under Accounts, click on the banner for Public Provident Fund.
3. Confirm the details shown in the next screen and enter the amount you want to deposit.
4. If you want to add a nominee click submit.
5. And If your Aadhaar is already linked to your account, your form will be submitted, and you will receive a message that your account will be opened in one working day.
6. If your Aadhaar is not linked, then you must first link it to be able to complete the process.
7. Once you open a PPF account online, you can transfer funds directly from your savings account to your PPF account.