PPF Account in SBI Bank Many people like to invest in PPF funds. This is a safe and high return investment option. By investing in this, the investor can have an income source even after retirement. Now investors can also open PPF accounts through their savings account. Let us know how SBI customers can open PPF accounts.
Employees working in private sector invest 12 percent of their salary in PF account. Public Provident Fund (PPF) is a popular option for investing in the scheme. Compound interest is available on the amount invested in this. You can invest in PF fund for 25 years. If we talk about the limit of the amount invested, then you can invest more than Rs 1 crore in it.
- Interest is given by the government at the rate of 7.1 percent. To invest in PPF fund, you must have a PF account. You can open a PF account by going to any bank or post office.
SBI customers can also open PPF account online sitting at home. For this, it is mandatory to have KYC of their savings account. PPF account can be opened only after KYC of the bank account. Come, let us know what is the process of opening PPF account from savings account?
what is the process
- First of all you have to go to the online website or app and log in to your SBI account.
- After this you have to select the option of ‘Request and enquiries’.
- Now you can select New PPF Accounts from the dropdown menu below.
- After this a new page will open. Here you have to enter PAN Card information.
- After this, enter the branch code of your bank, where you have to open your PPF account.
- Now enter your personal details and click on proceed.
- After this you have to submit by ticking a dialogue box.
- Now you will see the reference number and form on the new page. You have to download the form.
- After this, you download the form from ‘Print PPF Online Application’ and go to the bank within 30 days and complete the KYC process.
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