Prerequisites to Open a PPF Account Online with SBI
– You should hold a savings bank account with SBI. – You should have Net Banking/Mobile Banking acce – Your Aadhaar number should be linked to your account – Your mobile number which is linked to your Aadhaar should be active to receive one time password (OTP). This is necessary to e-sign/e-authorise the opening of a PPF account instantly.
Step 1. Visit SBI portal and login with your credentials.
Step 2: Click on ‘Deposits & Investment’ and click the ‘Public Provident Fund (PPF)’ option.
Step 3: Click the ‘PPF Account Opening (Without Visiting Branch)’ option.
Step 4: Read the general instruction, accept the terms and click the ‘Proceed’ button
Step 5: Select the account and click the ‘Proceed’ button.
Step 6: Your account details will be pre-filled. Enter the deposit amount, nominee details, select the declarations and click the ‘Submit; button.
Step 7: Pay the initial deposit amount through any online mode. Step 8: The PPF account will be created and the PPF account number will be displayed. PPF account statements are available on internet banking. Step 9: Visit the branch with the PPF receipt, KYC documents, and a photograph within 30 days to complete the account opening process.
Documents Required to Open PPF Account In SBI
– PPF account opening form – Passport size photo – Address proof – Nomination form – PAN card
Important Points to Note When Opening a PPF Account
– As per the Indian law, an individual is allowed to open only one PPF account. – Minimum deposit is Rs.500 as initial deposit amount. – NRIs can not open a PPF account. – You can visit the nearest SBI Bank branch and give the request for nomination updating/change whenever required. – Customers need to visit the branch to get the passbook for the PPF account opened online.
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