You can invest a minimum of ₹500 and a maximum of ₹1.5 lakh in a financial year in a PPF account. Investments in a PPF account are for 15 years, which can be extended by blocks of five years. The current PPF interest rate is 7.1% (4th quarter of FY 2023-24).
Public Provident Fund (PPF) is an attractive investment scheme among small investors. At present, interest is being given on this at the rate of 7.1% per annum. You can open PPF account from post office to bank. We are telling you how you can open PPF account online in SBI, HDFC Bank and ICICI Bank.
How to open SBI PPF account online
1) First of all, login to your SBI account online through Internet Banking.
2) Now, click on the ‘Requests and Enquiries’ tab.
3) Click and select the option of ‘New PPF Account’ from the drop-down menu.
4) ‘New PPF Account’ page will open. Existing customer details including PAN (Permanent Account Number) will appear on this page.
5) Your personal details – address and enrollment – need to be verified. Once verified, click on ‘Proceed’.
6) After submitting, a dialog box will appear saying, ‘Your form has been successfully submitted.’ It will also have a reference number.
7) Now you have to download the form with the given reference number.
8) Print the account opening form from the ‘Print PPF Online Application’ tab and visit the bank branch with KYC documents and a photograph within 30 days. After this your PPF account will be opened.
How to open PPF account online in HDFC Bank
1) Sign in to HDFC Bank NetBanking.
2) Under the Offers tab, click on the ‘Public Provident Fund’ banner.
3) Existing customer details including PAN are displayed on this page. Confirm details.
4) 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.
5) If your Aadhaar is not linked, you will need to link it first to complete the process. After this the account will be opened.
How to open PPF account online in ICICI Bank
1) Login to your ICICI Bank account through NetBanking.
2) Go to Bank Accounts >> PPF Account.
3) Fill in the details, set up standing instructions and e-sign.
Once you open a PPF account online, you can directly transfer funds from your savings account to your PPF account in HDFC or ICICI Bank.
You can start investing with minimum Rs 500
You can invest a minimum of ₹500 and a maximum of ₹1.5 lakh in a financial year in a PPF account. Investments in a PPF account are for 15 years, which can be extended by blocks of five years. The current PPF interest rate is 7.1% (4th quarter of FY 2023-24).
