Our Today post is very helpful for those people who want to open the PPF Account Opening Form 2023. So all the details related to this account like Public Provident Fund Interest Rate Calculator, apply online age eligibility criteria. And the PPF account is like the Provident Fund, called PPF in short, has a saving scheme. Many of the users have also known this account for its tax benefits and guaranteed returns under the service. With the opening of this PPF account, the government has to try to help the citizen of our country. Kindly read this post to the end carefully.
PPF Account Opening Form 2023
In this section, we have mentioned the some basic information about the PPF Account Open. We will try to answer the question of “What is a PPF Account?”. The Idea for this account came from the National Savings Organization when they launched the Public Provident Fund in the year 1968. Under this project, they have also made the PPF service available to all the people, and the government of India has made it accessible through Post Office. And in the current time, it has also promoted the small investments and saving the among the citizens. So, if you also want to open your PPF account for saving, then do, read our post.
The service of India Post offices is accessible in every state, in every district. Now the citizens from other, village or rural areas can simply have to all the benefits from our service. And there are many banks also given similar PPF services. According to me these bank services are not available in every place. Here, we have shared all the details about the PPF account.
PPF [email protected] Key Highlights
|Scheme Name||PPF Account|
|Offered by||National Savings Organization|
|Handled by||The Central of Government|
|Advantages||It helps for saving money|
|Beneficiaries||Citizen of India|
|Official Website||Click Here|
Process to PPF Account Apply Online
Some more details about the PPF Accounts:-
There are many people are thinking that this account is related to the rewards/offers and volatility available in the market but it’s not. Because all the account holders of PPF can easily get good returns and stability. Despite that, its account has more key features, interest rates, and regulations also. And the government has also ensured that this is the safest medium for saving your amount. In India, the PPF service has also popular as a retirement saving plan with lesser risk.
As per Section 80C of the Income Tax ACT, 1961, the PPF service has also offered people to get income tax benefits on the invested amount. Now with the help of this account, candidates who have not registered themselves till now can register with this service now. Despite that, the post offices registration process has same to steps given by banks. A PPF account has only been open through designated bank branches.
What is the PPF Interest Calculator?
List of Designated Banks:
- Central Bank of India
- Dena Bank
- Union Bank of India
- Axis Bank
- Indian Overseas Bank
- Bank of Maharashtra
- Oriental Bank of Commerce
- Bank of India
- Punjab National Bank
- Few other banks.
- State Bank of India (SBI)
- SBI Subsidiaries
- HDFC Bank
- IDBI Bank
- Kotak Mahindra Bank
- ICICI Bank
NOTE:- If you want to open a PPF account through banks. Then, you should have one saving account in the same bank. Because for opening a PPF account, you need internet banking or mobile banking service. After that only, applicants can avail of service.
Procedure for Provident Fund Account Opening
Eligibility Criteria for PPF Account opening:
- All the applicants must be a permanent residents of India and can open this account.
- The applicant can open the PPF account once only.
- The NRIs who want to open a PPF account while living in India can also operate them for 15 years. However, there has to be no option of extension of a PPF account for them.
- HUFs candidates cannot open the PPF account after the date of 13th May 2005.
- For minor PPF accounts, birth proof of the child has to be given during application submission.
- All the PPF account before 13th May 2005 has to be handled till the 15-year maturity period without any extension.
Benefits for PPF Account Opening
- With the help of this PPF Account, you can deduct an Income tax as per the Income Tax Act, 1961.
- The account holder can have to get easy loans and advances because of the PPF balance.
- You can get Risk-free returns that have to be provided under this service which has not dependent on market values.
- Now by using this account, you can able to hold a long-term investment plan of 15 years.
- It provided the compounded interest rates.
- From the 7th financial year of a PPF account onwards, a partial withdrawal facility is made available.
- At last, it has an unlimited extension facility provided to the consumer.
How to Check the PPF Account Form 2023?
All Indian citizens can open the PPF account. But if the younger applicants, a legal guardian can open their account from their side. So the younger crossed the age of 18 years, then they get the authority of their account:-
Important Documents for PPF Account-
Before opening the PPF account, the first applicants have to grab the PPF account opening form from a bank or an Indian Post Office
- ID Proof such as :
- Aadhar Card
- PAN Card
- Voter Card
- Driving License
- Address proof :
- Telephone Bill
- Electricity Bill
- Ration Card
- Aadhar Card
- the current passport size photo
- Fourthly, for minors, a birth certificate is required.
- Pay-in-slip at the branch of the bank to the amount transferred in your PPF account.
- Also, the applicant can submit a signed cheque in the favor of your PPF account.
Despite that, all the documents asked during application submission have to be original or self-attested. And for the online methods through banks are easier than offline mode for a PPF account opening.
Provident Fund Interest Calculator – Check
Process to Open the PPF Account Online:-
- All the applicants have to log in to their existing bank account by the Mobile Banking or Internet banking option.
- Now you must check the services provided by the bank.
- Then, you have to select the option “Open a PPF Account”.
- So in the case when applicants want open this account for themselves, then click on the ” Self Account ” option.
- Kindly enter the asked details in the registration form for a PPF account.
- And select the Key-in the total amount you want to put down in the account as per financial year.
- After that, just click on the SUBMIT button also. And you will receive OTP on your registered mobile number. Enter the OTP number in the relevant box.
- Then your PPF account has to create by the bank with an instant method.
- Finally, you received one PPF account number against your registration. Although, the bank has sent you an email regarding the PPF account opening through mail as well.
- against your registration. Although, the bank has sent you an email regarding the PPF account opening through mail as well.
For offline medium of a PPF account opening, an applicant needs to visit the bank or an Indian Post office near them.