How to open an online PPF account with SBI

How to open an online PPF account with SBI

The Public Provident Fund (PPF) account remains a time-tested investment option that has not let down investors for over several decades now. 

The tax benefit on amount invested, a tax-free return on maturity and the backing of the government on the account balance, makes it a rock-solid investment. 

You can open PPF account in an authorised post office or bank branch. You can also open a PPF account online; however, only a few banks offer this facility. 

Only if you have the access to SBI Internet banking, you will be able to get the account opened online. 

. The account will be opened and linked to a specific bank branch where one has the savings account. 

3. The opening of the PPF account is not entirely online. You can initiate the process online by generating a self-filled form and then, along with the know-your-customer (KYC) documents you will have to visit the bank branch to complete the process. 

Before signing and submitting the application form at the bank branch, make sure these conditi .. 

1. An individual can open only one account in his name either in a post office or a bank and he has to declare this in the application form for opening the account. 

2. The maximum amount that can be deposited in self and minor account taken together is Rs 1.5 lakh per annum. 

3. Persons having a PPF account in the bank cannot open another account in the post office and vice-versa. 

These are the steps to open the PPF ..