How to Open a PPF Account Online?

Neethi V. Kannanth | Last updated: 20 April 2022

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Quick Summary

Opening a Public Provident Fund (PPF) account online is now possible through select banks, offering a convenient way to start this popular long-term investment. To be eligible, you must be an Indian resident with a savings account and activated net banking, and your Aadhaar and mobile numbers must be linked. The process involves logging into your bank's net banking portal, selecting the option to open a new PPF account, entering nominee and bank details, verifying your PAN, and making an initial deposit.

The Public Provident Fund (PPF) account is a very popular, long-term investment and savings product. Individuals investing in the account can avail tax benefits as well. A PPF account can be opened at post offices as well as at banks. In order to make the process of opening an account easy, individu

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FAQ :

No, you can only open a PPF account online at banks. It is not possible to open one online at post offices. Some banks offer a fully online process, while others may require a partial online application followed by a visit to the branch.

To open a PPF account online, you must have a savings account with the bank, have net banking activated, and ensure your Aadhaar number is linked to your savings account. Your mobile number must also be linked to your Aadhaar.

The minimum deposit for a PPF account is Rs. 500 per year, and the maximum deposit allowed is Rs. 1.5 lakh per year. Deposits can be made in a lump sum or up to 12 instalments.

The Public Provident Fund (PPF) scheme has a duration of 15 years.

Yes, contributions made towards a PPF account are eligible for tax benefits up to Rs. 1.5 lakh under Section 80C of the Income Tax Act.

Only Indian residents are eligible to open a PPF account. Hindu Undivided Families (HUFs) cannot open an account, and an individual can only have one PPF account. An account can be opened on behalf of a minor.