Open PPF account online

Public Provident Fund account or the PPF account is a scheme that was introduced the Government of India in the year 1986.

This scheme states that any citizen of India is free to contribute to the scheme through which the person can claim an income tax rebate. One important point here is that only individuals are allowed to invest in PPF. If the individual is a minor, the person on whom he/she is dependent can make the contribution. The total duration of scheme is 15 years, however, the term can be extended to further one or five years. The termination of a PPF account is possible at any time but more contributions to the scheme can be made after the 15 years term is over.

Opening PPF account online

If you wish to open a PPF account in a post office you can do so by visiting your nearest post office.

A PPF account can also be opened in any SBI Bank or its subsidiaries too. The application form for opening a PPF account with SBI is available at the official website of the bank which is http://www.statebankofindia.com/ . As soon as you open an account there is a facility of operating the account online. You just need to give an application in your nearest SBI branch or its subsidiary bank branch to link the PPF account to your bank account. For this purpose your bank account must have online banking facility activated.

On getting the PPF and bank account linked together, you can then check the status of you PPF account too. You get online transactional rights for your PPF account. Through this facility you can make PPF contributions online too. In accordance to the terms and conditions of the PPF account whenever the PPF money withdrawal time comes you can get all the money in your bank account with which you have linked your PPF account.

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