How to open a PPF account? Which documents are necessary, know all the details

How To Open a PPF Account: Any Indian resident can open a PPF account. Apart from this, parents or legal guardians can also open an account for their minor child. However, NRIs (Non-Resident Indians) cannot open new PPF accounts.

Open PPF Account Online: Any Indian resident can open a PPF account.

Public Provident Fund is a safe investment option, which is supported by the government. This scheme is a great way to make savings in the long term, in which you also get tax benefits and returns are also guaranteed. If you also want to open a PPF account, then here we are going to give you information related to its process, necessary documents, and terms and conditions.

Who can open a PPF account?

Any Indian resident can open a PPF account. Apart from this, parents or legal guardians can also open an account for their minor child. However, NRIs (Non-Resident Indians) cannot open new PPF accounts.

To open a PPF account, you need some important documents:

Identity proof: Either an Aadhaar card, PAN card, or passport

Address proof: Aadhaar card, Voter ID, or any utility bill (like electricity or water bill)

Photograph: A recent passport-size photo

Form A: PPF account opening form

The process to open PPF account

There are two ways to open a PPF account – online and offline. You can do this in any way at your convenience.

1. Online method:

• Login to the Net banking portal of your bank.
• Go to the PPF section and click on 'Open new account' option.
• Fill in the required information, upload documents, and make a deposit of at least Rs 500.
• Authenticate the transaction with OTP or Net banking.

1. Offline method:

• Go to the bank or post office and submit Form A and the necessary ID documents.
• After the account is opened you can make a deposit.
• PPF Account for Children If you want to open a PPF account for a minor, the parent or guardian is responsible for it.
• The account rules and deposit limits remain the same, but the guardian manages the account.

Pay attention to these things

• The tenure of a PPF account is 15 years, which can be extended in blocks of 5 years.
• A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited every year.

So if you are looking for a safe and tax-saving investment for the long term, then PPF can be the right option for you. Now whether you open it online or by visiting the bank/post office, the process is very easy.