Saturday, 7 March 2015

Where can I open a Public Provident Fund (PPF) account?

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

Bank Name PPF Form download URL
Allahabad Bank https://www.allahabadbank.in/pdf/PPF%20Account%20Opening%20FORM%20A.pdf
Andhra Bank http://andhrabank.in/Download/Forms/PPF_ACOPEN.pdf
Bank of Baroda http://www.bankofbaroda.co.in/forms.asp
Bank of India http://www.bankofindia.co.in/UserFiles/File/PPF_Form_A_ Account_Opening_Form.pdf
Bank of Maharashtra http://www.bankofmaharashtra.in/downloads.asp
Canara Bank http://www.canarabank.com/Upload/English/Content/FORM-A_%20%28PPF%20OPENING%29%281%29.pdf
Central Bank of India https://www.centralbankofindia.co.in/Site/downloadforms _des.aspx?downloadforms_id=1
Corporation Bank http://www.corpbank.com/node/58945
Dena Bank http://www.denabank.com/viewsection.jsp?lang=0&id=0,9,513
IDBI Bank http://www.idbi.com/pdf/corporate-apply-now/Govt-Business/GB_PPF_FORM_A.pdf
Indian Overseas Bank http://www.iob.in/Public_Provident_Scheme.aspx
Punjab National Bank https://www.pnbindia.in/new/Upload/En/ PPF_Application_Form.pdf
State Bank of India https://retail.onlinesbi.com/sbi/downloads/PPF/FORM-A_%20%28PPF%20OPENING%29.pdf
State Bank of Bikaner & Jaipur https://www.sbbjbank.com/We-offer/Government-Business1.htm
State Bank of Mysore http://www.statebankofmysore.co.in/deposits/242.html
State Bank of Travancore http://www.statebankoftravancore.com/portal/forms1
Syndicate Bank http://www.syndicatebank.in/scripts/ otherproductsandservices.aspx
UCO Bank https://www.ucobank.com/other-services/ppf-schemes.aspx
Union Bank of India http://www.unionbankofindia.co.in/ personal_govt_ppfund.aspx
United Bank of India http://oldwebsite.unitedbankofindia.com/english/PPF.aspx
Vijaya Bank http://www.vijayabank.com/Merchant-Banking/Public-Provident-Fund

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
ICICI Bank http://www.icicibank.com/Personal-Banking/investments/ppf/ppf-forms.page
Axis Bank http://www.axisbank.com/download/Form-A-AOF.pdf

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 form

http://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).
Please check with the bank/post office for the required documents while opening an account.

Nomination for PPF account

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!


Related Topics

  1. Eligibility for opening a PPF account
  2. Deposit rules for PPF
  3. Duration and maturity options of PPF account

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4 comments:

  1. VERY FRUSTRATION NO BANKS ARE OPENING PPF ACCOUNT LIKE UCO & ANDHRA BANK. WHAT CAN I DO FOR PPF ACCOUNT OPENING? MY CONTACT NO. IS +91-9935302585 MY NAME IS S.M.ABDULLAH

    ReplyDelete
    Replies
    1. Both of the banks mentioned by you should open PPF account. What is the reason they are giving for not opening PPF account.

      Delete
  2. Thanks for sharing the list of banks for opening PPF account. I think one can open Sukanya Samriddhi Account also on those banks by following very easy steps.

    ReplyDelete
  3. You can find all Indian Government & private Banks all branches Updated IFSC Code list along with Branch Address details, Swift Code, Micr Code, Bank Toll Free No, Customer Care No etc on below Mentioned Link.
    http://www.codebankifsc.com/

    ReplyDelete