PPF Account Opening Form 2022 at epfindia.gov.in Public Provident Fund Interest Rate Calculator, apply online age eligibility criteria. Public Provident Fund, called PPF in short, has a saving scheme. It is also known for its tax benefits and guaranteed returns under the service. As a result, the government has to help the citizen of our country for opening their PPF account. In city areas, it is easy to open a PPF account, but in rural areas, there are fewer options for people.
PPF Account Opening Form 2022
National Savings Organization has started the Public Provident Fund in the year 1968. Also, to make PPF service available to all the people, the government of India has made it accessible through Post Office. It also promotes small investment and saving among the citizens. So, if you also want to open your PPF account for saving, then do, read our post.
Indian Post Office’s are available in every state, in every district. So, people either from village or rural areas can easily have all the benefits from our service. Various banks also provide the same PPF services, but these bank services are not available in every place. Here, we have shared all the details about the PPF account.
PPF Account Apply Online
In addition, this service has not related to the offers and volatility available in the market. After that, an applicant can get sure returns and stability. However, it has some key features, interest rates, and some regulations also. But still, it is the safest medium for saving your amount. In India, the PPF service has also popular as a retirement saving plan with lesser risk.
Under section 80C of the Income Tax Act, 1961, the PPF service will also allow people to get income tax benefits on the amount invested. Applicants who have not registered themselves till now can register with this service now. The Post Office registration process has similarities to the steps given by banks. A PPF account has only been open through designated bank branches.
PPF Interest Calculator
List of Designated Banks:
- State Bank of India (SBI)
- SBI Subsidiaries
- HDFC Bank
- IDB Bank
- Kotak Mahindra Bank
- ICICI Bank
- 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.
|Name of the Service||PPF Account|
|launched by||National Savings Organization|
|Under||The Central of Government|
|benefits||It helps to save money|
|Beneficiaries||Citizen of India|
|Official Website||Mentioned Here|
Moreover, if you want to open a PPF account through banks. Then, you must 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.
Provident Fund Account Opening
PPF Account opening eligibility –
- Firstly, a permanent resident of India can open this account.
- Secondly, a person can open a PPF account once only.
- NRIs who opened PPF account while residing in India can also operate them until 15 years. Although, 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.
- Thirdly, for minor PPF account, 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.
PPF Account Opening benefits –
- It provides an Income tax deduction according to the Income Tax Act, 1961.
- Applicants can have loans and advances because of the PPF balance.
- Risk-free returns have to be provided under this service which has not depended on market values.
- Also, it has a long-term investment plan of 15 years.
- Most important, it gives compounded interest rates.
- Investment can start with at least 500 Rs
- 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.
PPF Account Form 2022
Any Indian resident can open a PPF account. But in the case of the minor applicants, a legal guardian can open their account from their side of it. When the minor crossed the age of 18 years, then they get the authority of their account.
PPF Account documents required
- Firstly, a PPF account opening form from a bank or an Indian Post Office.
- Then ID Proof such as :
- Aadhar Card
- vote card
- driving license
- Secondly, address proof:
- phone bill
- electricity bill
- Ration Card
- Aadhar Card
- Thirdly, the current passport size photo
- Fourthly, for minor, birth certificate is required.
- At last, Pay-in-slip at the branch of the bank to the amount transferred in your PPF account.
- Also, the applicant can submit a signed check in the favor of your PPF account.
However, 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
Steps to open a PPF account online:
- At first, log in to your respective bank account through mobile banking or internet banking option.
- Then, you can check the services provided by the bank.
- After that, select the option “Open a PPF Account”
- If you want to open this account for yourself, then click on the “Self Account” option.
- And if you want to open this account for a minor as a guardian then, select the “Minor Account” option given here.
- Then, enter the relevant details in the registration form for a PPF account.
- After that, select the Key-in the total amount you want to put down in the account as per financial year.
- In the end, click on the submit button also. Then you will receive OTP on your registered mobile number. Enter the OTP number in the relevant box.
- At last, your PPF account has to be created by the bank with an instant method.
- Also, 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.
PPF Application Form pdf
For offline medium of a PPF account opening, an applicant needs to visit the bank or an Indian Post office near them.