How to open PPF Account Online

FAQs on How to open PPF Account Online

• What is the investment term of PPF?

  The Public Provident Fund is a long-term investment scheme. Hence the tenure of the savings scheme is 15 years. PPF account holders can choose to extend the term in blocks of 5 years each post maturity.

• What is the maximum deposit limit in a PPF account?

  The maximum amount that a PPF account holder can deposit in a financial year is Rs.1.5 lakh. The deposits can be made in 12 transactions per year and not more than that.

• When can one avail the PPF loan facility?

  PPF Loans can be availed by account holders from the 3rd to the 6th financial year.

• What is the minimum deposit limit in a PPF account?

  A PPF account holder can deposit as low as Rs.500 in a year.

• When is one permitted to make partial withdrawals from a PPF account?

  The partial withdrawal facility can be availed from the 7th financial year.

• When can an SBI customer open a PPF account?

  With the launch of digital banking services, customers can open SBI PPF account from anywhere at any time. The process of opening a PPF account can be done completely online without any physical paperwork.

• How to open a PPF account online with SBI?

  If you are a customer of SBI, use the SBI mobile banking app or the desktop version to instantly open a PPF account.

• What are the prerequisites for opening a PPF account online with SBI?

  The individual should have an SBI savings account. The netbanking or mobile banking facility has to be enabled for the said account. The account holder's Aadhaar number and mobile number should be linked to the bank account.

• What is the process to open a PPF account online with SBI?
  1. Visit the SBI website (www.onlinesbi.com) and log in to the account with the appropriate credentials. On the left-hand side of the webpage, click on the 'New PPF Account' option.
  2. The account holder's PAN and other personal details such as name and address will be displayed on the screen. Select the bank account number from which contributions to the PPF account are to be made.
  3. Provide details of the bank branch such as branch code and name. Verify the details provided and then click on 'Proceed'.
  4. PPF account will be created instantly and the account number will be displayed on the screen.
• Where can the PPF account statement be found?

  The statement of the PPF account transactions can be found on internet banking.

• What are the important rules to keep in mind when opening a PPF account?
  1. Only one PPF account can be held by an individual.
  2. In the case of minors, PPF account can be opened only through offline channels.
  3. PPF scheme is not allowed for NRIs.
  4. To nominate or make changes, visit the nearest bank branch.
  5. SBI joint account holders can't open a PPF account online.
  6. To get PPF account passbook, visit the bank branch.
  7. If PAN is incorrect, further deposits in PPF will not be allowed. Visit the bank branch to correct or update the PAN details.
  8. Not all banks offer online account opening facility, some offer complete online account opening facility while others offer partial facility.
• What is partial online account opening facility?

  Application form can be filled online but must be submitted offline at the bank. Visit the bank branch with KYC documents and a recent passport-size photograph along with the printed PPF account opening form within 30 days for verification.