Tips to Open PPF Account in State Bank of India: PPF is a popular investment option.
State Bank Of India (SBI): The Public Provident Fund (PPF) is a popular long-term retirement savings option, favored by many working individuals due to its compounding benefits and tax advantages. Backed by the Government of India, PPF offers attractive interest rates and secure returns. Additionally, the returns are fully tax-free under Section 80C of the Income Tax Act.
To ensure a seamless experience, SBI has created comprehensive official videos that walk you through the entire process of opening a Public Provident Fund (PPF) account. Follow these detailed guides to effortlessly complete your account opening process.
How to Open a Public Provident Fund (PPF) Account via OnlineSBI (Website)
How to open Public Provident Fund (PPF) Account via Yono App?
- Download YONO App or Log in to your SBI online banking portal at onlinesbi.com
- Navigate to ‘My investments’ and apply for New PPF account by clicking ‘Open PPF account’.
- Name and address details (non-editable) are prepopulated and are non-editable.
- Select Home Branch/Other Branch to open PPF Account. By default CIF home branch will be shown, however, customer will have option to select other branch using GPS or entering location/branch code.
- Fill in nominee details (Maximum 4 nominees allowed).
- Option to put standing instruction. (recommended)
- Review and confirm all the data entered and accept terms and conditions by entering OTP sent on registered mobile number in Bank records.
- PPF account is generated and funding can be done immediately.
