Mumbai: Public Provident Fund (PPF) is one of the most long-term and risk-free ways of investment. The PPF account matures on completion of 15 years from the end of the year in which the account was opened. PPF is currently giving 7.1%.
The minimum deposit Rs 500 and maximum deposit Rs 1,50,000 in a financial year. Loan facility is available from 3rd financial year upto 6th financial year. Withdrawal is permissible every year from 7th financial year.
The State Bank of India (SBI) offers the option to open PPF account.
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Steps to open SBI PPF account online:
Step 1: Open your SBI online account
Step 2: Select ‘Request and enquiries’ tab
Step 3: Now, select and click on the ‘new PPF accounts’ button
Step 4: You will soon be redirected to the ‘new PPF account’ page where you can see your PAN (Permanent Account Number) being displayed.
Step 5: Fill details of the branch code/provide details of your bank branch where you want to open Public Provident Fund account.
Step 6: You will need to verify personal information like address and nomination. After verification is complete, you need to click on proceed.
Step 7: A dialogue box will be displayed with the message ‘Your form has been successfully submitted’.
Step 8: You will have to download the form where the reference number has been mentioned.
Step 9: Print the form by selecting the ‘Print PPF Online Application’.
Step 10: Visit the bank branch along with the form and photographs within 30 days.
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