PPF account is going to be opened in SBI, then these important things should be known

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Customers get the benefit of income tax rebate on the amount invested in PPF, on the interest income and then on the maturity amount. You can open your PPF account with SBI in a very easy way.



If you are planning to invest for long term then Public Provident Fund (PPF) is a better option. There is also a benefit of tax rebate with better interest rate. It is also safe as well. Customers get the benefit of income tax rebate on the amount invested in PPF and then the maturity amount. Apart from the post office, many banks are also offering PPF facility. State Bank of India (SBI) also provides the facility to open PPF account. You can open your PPF account with SBI in a very easy way.



These documents will be required
To open a PPF account with State Bank of India (SBI), you will need a copy of the documents related to Form A, PAN card photo copy, passport size photo, ID proof and residence certificate, nomination form. If you have a savings account with SBI, then you can also open PPF account online.

Also Read: ITR date extended: Deadline to file income tax return on September 30

Who can open PPF account
PPF account can be opened by any adult Indian citizen. At the same time, his guardian can open PPF account on behalf of the minor child. Most importantly, only one PPF account can be opened by one person. Its interest rates are set once every three months by the central government. Currently, the interest rate on public provident fund is 7.1 percent.



You can do this. Investments can be
deposited in a PPF account from a minimum of Rs 500 to a maximum of Rs 1.5 lakh in a financial year. You can invest in lump sum or up to 12 installments. The maturity period of the scheme is 15 years. But you can take it forward. You can transfer PPF account to any other post office, bank or branch if you want. No fee has to be paid for this.

The post PPF account is going to be opened in SBI, then these important things should be known appeared first on informalnewz.



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