Public Provident Fund (PPF), the popular long-term savings scheme, which matures in 15 years is currently giving 7.1% interest annually. A PPF account can be opened in a Post Office. Even some banks like the State Bank of India (SBI) also provide the option of opening a PPF account. The account can be opened either by visiting the branch or online.
How to open SBI PPF account online explained in 10 steps
1) Log in to your SBI online account
2) Now, click on the ‘Request and enquiries’ tab.
3) Click and select the ‘new PPF Accounts’ option from the drop-down menu.
4) You will be redirected to the ‘New PPF Account’ page. Existing customer details including PAN (Permanent Account Number) are displayed on this page.
5)If you want to open an account in the name of a minor, then you need to check on that tab.
6) If the account is not to be opened in the name of a minor, then you need to fill in the branch code in which you want to open your PPF account. Provide bank branch details.
7)Your personal details – address and nomination- need to be verified. Once verified, click on ‘Proceed’.
8) After submitting, a dialogue box says, ‘Your form has been successfully submitted’. It will also have the reference number.
9) Now you need to download the form with the reference number given.
10) Print the account opening form from the tab ‘Print PPF Online Application’ and visit the branch with KYC documents and a photograph within 30 days.
Requirements for opening SBI PPF account online
-The ‘Aadhaar’ number should be linked to your SBI savings account.
-Your mobile number linked to your Aadhaar should be in active status, to receive OTP.
Source By: livemint
