Steps to open an SBI PPF account online

May 25, 2023 Finance Talk Valli Sarvani No comments

The Public Provident Fund (PPF) is a Government of India-backed long-term savings scheme aimed at promoting retirement savings and providing tax benefits.

It has a tenure of 15 years and an annual interest rate of 7.1 per cent. The PPF account offers a secure investment option for individuals seeking stable returns while minimizing risk.

The PPF scheme is regulated by the Ministry of Finance. It is available through authorized banks like the State Bank of India (SBI) and post offices across the country.

Opening an SBI PPF account online offers a convenient way to kickstart your savings journey.

Follow these steps to opening an SBI PPF account online:

Access SBI’s online account portal using your correct login credentials. Click on the request and enquiries section located in the top right corner. Select the New PPF Accounts link from the drop-down menu.
A new window will open, displaying the New PPF Account page with fields to fill in your name, address, PAN card details, and CIF number.
For those opening an account on behalf of a minor, tick the provided box. If not opening an account for a minor, enter the branch code where you intend to open your PPF account.
Proceed by entering the branch code and branch name. Then provide details for at least five nominees based on your preference.
Click on the Submit button. As soon as you submit, a dialogue box will appear confirming the successful submission of your form.
Make note of the reference number provided and download the application form.
Print out the account opening form by clicking the Print PPF Online Application button.
Submit the completed PPF form, along with your KYC documents and a recent photograph, to the nearest SBI branch within 30 days.

To open an SBI PPF account online, ensure that your Aadhaar card is linked to your SBI savings account. Also, make sure that your registered mobile number is linked to your Aadhaar card and is active to receive the OTP for verification.

Image by Aniket Sadekar from Pixahive (Free for commercial use / CC0 Public Domain)