Any Indian citizen can open a PPF account, and parents can open one for their minor child.
Option 1: If you have a bank account, you can open a PPF account by applying through online banking. Alternatively, you can visit your home branch to open a new PPF account.
Option 2: You can visit the nearest post office to open a PPF account. In the post office, you have to fill out an offline form and make a minimum contribution of Rs. 500 to a maximum of Rs. 70,000, subject to a maximum of Rs. 150,000 per year.
The following documents are required to open a PPF account, whether in a bank or post office. If opening the account through online banking, ensure your PAN card is registered with the bank:
- PAN card
- Aadhar card
- Voter ID (any one as ID proof)
- Address proof
- Mobile number
- Email ID
- Passport size photo
- Nomination form
Benefit of PPF
Tax Benefit
Income tax deduction under section 80c- maximum amount allowed is Rs.150000 in a years
Guaranteed Secured Return
Secured Return guaranteed returns over the long term
Long Term Growth Planning
PPF is a good tools for making a long term growth making wealthy over the long period and secured future of child and family
Option to invest Regularly
PPF has given a option to invest either monthly, quarterly even six monthly as well as per your financially planning and fund availability.
