New Delhi: The Public Provident Fund (PPF) scheme was launched by the National Savings Organisation in 1968 to encourage small savings and investments. This retirement savings scheme, introduced by the Government of India, is designed to ensure a secure post-retirement life for individuals.
Any resident of India is eligible to open a PPF account. Only one account can be opened per individual throughout the country, either through the post office or any bank. The interest rate applicable to a PPF account is determined and notified by the Ministry of Finance every quarter.
Here Are The Key Points Regarding A Public Provident Fund (PPF) Account:
How To Open A PPF Account?
A PPF account can be opened either at a Post Office or with any nationalised bank such as the State Bank of India or Punjab National Bank. Additionally, certain private banks, among others, are authorised to provide this facility nowadays.
Steps To Opening A PPF Account Online:
Step 1: Log in to your bank account using your ID and password on the banking website or mobile banking platform.
Step 2: Select the option to 'Open a PPF Account.'
Step 3: Choose the 'Self Account' option if you're opening the account for yourself. For a minor account, select the 'Minor Account' option.
Step 4: Fill in the required information in the application form.
Step 4: Specify the total amount you wish to deposit in the account per financial year.
Step 5: After completing the previous steps, submit the application. An OTP will be sent to your registered mobile number, which you'll need to enter in the relevant field.
Step 6: Your PPF account will then be created, and the account number will be displayed on the screen. Additionally, a confirmation email will be sent to your registered email address.
2024-02-12T07:16:43Z dg43tfdfdgfd