small investors Public Provident Fund (PPF) is a popular savings scheme among. This savings scheme helps small investors to build a bigger corpus in the long run. This savings scheme offers tax exemption and guaranteed returns to investors. Therefore it is an ideal option for safe investment among investors. We are telling you how you can open a PPF account. What is the eligibility for this and which papers will be required? Let us know.
What is the eligibility to open an account?
Any Indian resident can open a PPF account. Parents or legal guardians can also open a PPF account on behalf of a minor child. NRIs are not eligible to open new PPF accounts. Any person can open a PPF account online or by visiting a bank or post office.
Which documents will be required?
- Identity Proof: Aadhar Card, PAN Card or Passport.
- Address Proof: Aadhar Card, Voter ID Card or Electricity Bill.
- Photo: Recently taken passport size photograph.
- Form A: PPF account opening form.
online account opening process
- Log in to the net banking portal of your bank.
- Go to PPF section and click on 'Open New Account'.
- Fill the details, upload documents and deposit at least Rs 500.
- Authenticate the transaction through OTP or Net Banking. After this your account will be opened.
offline
- You can easily open a PPF account by submitting Form A and identity document at the bank or post office.
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