Knowing the benefits of opening SBI PPF Account, if you are also thinking of opening a Public Provident Fund, then SBI Bank gives the highest interest, SBI gives a lot of interest to your customers on PPF Account.
State Bank of India is one of the oldest banks in India, on which the people of the country trust a lot. Many facilities are launched by SBI from time to time for all the people of the country so that the people of the country can be benefited.
Recently, the facility of PPF account has been started by the State Bank of India for the people of the country. If you want to secure your future completely, then SBI PPF Account is the best option for you. Because by opening this account, you also get many benefits, which we will know in further detail.
SBI PPF Account is for future, very profitable
- SBI PPF Account is a very good option for any person of the country who wants to secure his future completely. The full form of PPF is Public Provident Fund. When you open a PPF account, you get an interest rate of 7.1% in it. Not only this, you also get the benefit of Compound Power by investing in PPF Account.
- In PPF account, you do not have to pay any kind of tax on Maturity Amount, Earned Returns and Composite Interest. When you invest 1.50 lakh in SBI PPF Account, you are also given tax exemption.
- Next, we also explain to you the process of opening SBI PPF Account so that you can secure your future by opening this account.
You can start PPF account with only Rs.500
- The minimum amount required to open a PPF account is only Rs 500, while the maximum investment limit has been kept at Rs 1.50 lakh per year. But remember that your SBI Saving Account should be linked to your Aadhar Card Number. Because to open PPF account, OTP comes only on the number linked to the Aadhar card.
SBI PPF Account matures in 15 years
- SBI PPF Account matures in 15 years. While you also get the facility that when your PPF account is about to mature, you can also extend it for a further 5 years. For this, the account has to be increased 1 year before the completion of maturity.
- When you open a PPF account, you cannot withdraw money from it until the account is 5 years old. If you withdraw money before 15 years, 1% is also deducted from your fund.
Who can open SBI PPF Account
Any person can open this account. Not only this, on behalf of the minor child, any person from his family can also open this account.
Important Documents For SBI PPF Account
You can easily open SBI PPF Account online. For this you must have some important documents such as –
- Enrollment form
- Aadhar Card
- PAN card
- Residence certificate
- Passport size photo
How To Open SBI PPF Account
- To open SBI PPF account, you have to first open SBI net banking application.
- In this, you have to login with the help of your User Name and Password.
- After logging in, you will see the option of Request & Inquiry in the top corner on the home page itself, you have to click on it.
- Now you will see the option of New PPF Account right here , you have to click on it.
- Now a form will open on your screen, in which you have to fill your name, PAN card number and address.
- After this, you have to enter the code of the branch of the bank from where you want to open the account.
- Now you have to click on submit option after entering the nominee details.
- After this an OTP will come on your registered mobile number. After entering it, the print out of Online Application Form of PPF Account will be out.
- Now you have to go to the bank with this application form along with photocopies of all your necessary documents.
- Thus you can easily apply.
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