PPF Account: You can open your PPF account in State Bank sitting at home, you just have to do this work
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PPF Account Opening: If you work in a private company or do your own business then you can open a PPF account. State Bank of India, the country’s largest government bank, provides Public Provident Fund Account (PPF) account to its customers.PPF Account) is being given a great opportunity to open. The bank has said that any customer can easily open a PPF account through online banking. To open an account, some easy steps have to be followed. After this your PPF account will be opened. Let us tell you that investment in PPF is made for a minimum of 15 years. This block can be extended up to five. You can withdraw money from your PPF account. Moreover, you can keep the investment growing and get more profits. However, to open your PPF account in SBI, you must already have a savings bank account in the bank. Along with this, it is also necessary to update the KYC of the savings bank account.
How to open PPF account in State Bank
To open a PPF account in State Bank of India, first log in to online banking. After this, select the option of Deposit and Investment. After this, the option of Public Provident Fund i.e. PPF account will appear in front of you. After this you PPF Account Opening will go on. After this, you will see the term and condition related to the PPF account in a left box on the screen. Read this and understand all the information. Next, select the option to agree. Then select the option to open PPF. After this your PPF account will be opened easily. You can deposit a minimum of Rs 500 to Rs 1,50,000 in a year in PPF account.
What is PPF account?
PPF account is a type of special savings account that is a special way for Indian citizens to use to save and grow their financial investments. It is a government backed and monitored investment scheme which can be opened in various banks and Indian post offices. PPF is a popular investment option selected as part of personal financial planning, especially for individuals and household residents who need financial security and advancement. To open a PPF account, a person must be an Indian citizen. It can also be a permanent resident or non-resident Indian. The tenure of PPF account is 15 years, after which the account holder completes retirement. In this, the annual rates of investment are fixed by the government and its annual return rate is also fixed by the government. PPF is a key protection under the Investment Act 1968 and it protects investors as a result of currency, risk and market manipulations. It has generous tax benefits on investments. You do not have to pay any tax on the investment amount and returns.
How to open PPF account at another location
Apart from State Bank of India, PPF account can also be opened in any other bank or post office. You can open a PPF account by visiting your nearest bank or Indian post office. The branch or office of your selected bank or post office should have the facility to open a PPF account. By visiting the bank or post office branch, you will be provided with the necessary form to open a PPF account. Fill this form properly, and attach all the required documents. While opening a PPF account, a minimum investment amount has to be deposited, which may be determined by the government from time to time. Currently the minimum amount is Rs 500. If your PPF account is approved, you will be issued a PPF passbook containing details of your investments. You have to invest every year in your PPF account so that the interest on your investment can increase. After the entire tenure, which is 15 years, you can borrow or withdraw the money from your PPF account. Moreover, you can keep the investment growing and get more profits.
What documents are required to open PPF account?
These documents are required to open a PPF account.
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application form
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Passport or Aadhar Card
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a passport size photograph
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Address Proof (to confirm address)
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citizenship proof
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PAN card
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