The PPF or Public Provident Fund is one of the most popular long-term investment options offered by the Central Government for Indian residents. PPF account can be opened in almost any PSU bank, though not all branches provide the facility so please check beforehand. Currently two private banks are authorized to open PPF account and ofcourse PPF account can be opened in any post office.
List of PSU banks offering PPF account
Apart from PSU banks two private banks also provide the facility to open a PPF account with them.
List of private banks offering PPF account
|Bank Name||PPF Form download URL|
Please note that currently HDFC is not providing the facility to open a PPF account.
PPF account can be opened in a Post office which is double handed and above.
Indian post office PPF account opening formhttp://www.indiapost.gov.in/pdfforms/ppfactopening.pdf
Documents required for opening a PPF account
- Account opening form (Form A).
- ID Proof (Like PAN card, Driving license, Voter ID, Passport).
- Address Proof (LikeTelephone bill, Electricity bill, Ration card).
The PPF Scheme facilitates nominations of one or more persons to receive the amount standing to the subscriber's credit in case of death. However no nomination(s) is possible in case of minor account.
Points to note -
- PPF maturity duration is 15 years.
- Pre-mature closure of a PPF account is permissible only in case of death.
- Nomination facility is available under PPF.
- PPF account can be opened with a deposit of Rs. 100 though in a financial year minimum Rs. 500 has to be deposited.
That's all for this topic Where can I open a Public Provident Fund (PPF) account?. If you have any doubt or any suggestions to make please drop a comment. Thanks!
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