How To Open PPF (Public Provident Fund) Account Online

PPF is an acronym of Public Provident Fund and it is a saving cum tax saving scheme. PPF scheme was introduced to mobilize small savings by the National Savings Institute of the Ministry of Finance in the year of 1968. The main aim of this scheme is to encourage people for investment avenue with reasonable returns combined with income tax benefits. The whole income including the interest earned in the PPF account are tax free under Section 80C of the IT Act.

People can deposit funds in PPF account for 15 years terms. After 15 years term PPF account holder can increase the term for another 5 years. The interest rate is set and announced by the Government of India. The funds deposited in the PPF account in one financial year is Rs. 500/- (five hundred) to Rs. 1,50,000/- (one lac fifty thousands). Current rate of interest is 7.6%. Read also : How to schedule android phone to turn on/off automatically

One of the important feature of the PPF account is that account holder can transfer PPF account from one bank to another bank or post office. Transferring of PPF account from one branch to another is completely free.

Individuals in their own name as well as on behalf of a minor can open the PPF account at any branch. PPF account can be opened at any nationalized bank, post office or other authorized bank. Now a days many banks offer facility to open PPF account online through net banking. This is not a tough process and no need to fill the complete form online. Read also : How to create ghost button

Steps to Open PPF account online through SBI netbanking

Step 1. If you have SBI net banking account then login to your account with the help of you user id and password. Here, I am going to show you how to open PPF account through SBI net banking.

Step 2. After login to SBI net banking account, click Request & Enquiries and click New PPF Account.

Step 3. After that scroll down and enter the Branch Code and then click Get Branch Name. If you do not know the branch code then click Branch Locator and the available instructions.

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After that enter the Nominee name, DoB of Nominee incase of minor/Age and percentage of share. If you want to share your PPF fund with lots of nominee according to the share of percentage then you need to add more than one nominee and their percentage of share in the respective cells.

Step 4. After entering the nominee(s), click Submit button. Now you will get message that "Your Application have been successfully submitted with the reference number : XXXXXXXXXX"

Step 5. Now click Print PPF Online Application and then click PPF Reference Number and save the application to your computer future use. Read also : How to disable/remove Windows 8 lock screen

Now print the PPF application form and affix recent passport size photograph and fill the application form and visit the branch with KYC (Know Your Customer) documents (PAN Card, ID Proof and Address Proof) within 30 days. If you do not visit the branch within 30 days, the application form will be deleted.

Steps to Open PPF Account OnlineThrough ICICI NetBanking

Step 1. If you have ICICI net banking account then login to your ICICI bank account with the help of you user id and password. After login, scroll down the MY SHORTCUTS options and click PPF Account and then click APPLY FOR PPF ACCOUNT. Otherwise, click MY ACCOUNTS and then click PPF ACCOUNTS and then click APPLY FOR PPF ACCOUNT. Read also : How to stop WhatsApp auto downloading image, audio, video

Step 2. In this step, you just need to enter your Permanent Address, Initial Deposit Amount, Mobile Number and EMail ID. After entering the required data, click DOWNLOAD APPLICATION FORM.

To register nominee to your PPF account, click DOWNLOAD NOMINEE FORM and fill the details of nominee. Read also : How to set default operating system in dual boot Windows 8 computer

After doing the above steps, now you just need to print both the PPF Application Form and Nominee Form. After printing, affix the recent passport photo and sign the form and visit the nearest ICICI bank branch with your KYC documents (PAN Card, ID Proof and Address Proof) within 30 days.
How To Open PPF (Public Provident Fund) Account Online How To Open PPF (Public Provident Fund) Account Online Reviewed by Mani on February 05, 2018 Rating: 5

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