There is also a facility to open a PPF account online to make this scheme even more convenient to save for the future.
Public Provident Fund or PPF (Public Provident Fund – PPF) is a government-backed long-term savings scheme. It provides retirement savings and offers a number of tax benefits. This savings plan has a tenure of 15 years and an interest rate of 7.1%. This PPF account is a safe investment by providing consistent returns.
SBI PPF Account can be opened online to make this scheme even more convenient to save for the future. Now let’s see the step-by-step instructions on how to open SBI PPF account online through a simple process:
Step 1: Login to your SBI online account with correct details at www.onlinesbi.com.
Step 2: Click on the section “Request and enquiries” found in the top right corner.
Step 3: Now select the “New PPF Accounts” link from the drop down menu that appears.
Step 4: Your name, address, PAN card and CIF number will be displayed on the “New PPF Account” page.
Step 5: Tick the given box if you are opening this account for a minor below 18 years of age.
Step 6: If the account has not been opened for minor, enter the France where you want to open your PPF account.
Step 7: Enter the branch number and branch name of your preferred bank branch. Additionally you have to provide details of at least five nominees as per your preference.
Step 8: Click on “Submit” button. Now a dialog box will appear where you can confirm that your form has been successfully submitted.
Step 9: Note down the reference number given on it. Also download the form.
Step 10 : You can print the account opening form by clicking on the “Print PPF Online Application” button.
Step 11: Finally, submit your completed PPF form along with your KYC documents and your recent photograph at your SBI branch within 30 days.
Requirements for opening PPF account online
You must link your Aadhaar card with your SBI savings account.
As the OTP will be sent to the mobile number linked to your Aadhaar card it must be active.
By following these steps and fulfilling the above mentioned requirements you can open SBI PPF account online very easily. This makes your future financially secure.
