Step by step Guide on how to open a ppf account
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.
The PPF account has its own benefits like :
- Can be open with just 100 Rs
- Several Tax Benefits Under section 80C
- 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 keep in 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.
The following documents will be required to open a PPF account :
- Proof of Indentity ( Voter Id /Pan card / Aadhar Card )
- Proof of Residence
- Passport Size photo
- Pay in Slip(available at bank/post)
- Nomination form
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:
- Get the PPF application form from the counter.
- Fill the form and submit it with all the required documents and the passport size photographs.
- Deposit the initial amount required to be submitted in the account.
- 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….
- Sign in to HDFC Bank NetBanking.
- Under Accounts, click on the banner for Public Provident Fund.
- Confirm the details shown in the next screen and enter the amount you want to deposit.
- If you want to add a nominee and click submit.
- 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.
- If your Aadhaar is not linked, then you must first link it to be able to complete the process.
- Once you open a PPF account online, you can transfer funds directly from your savings account to your PPF account.