PPF account online: A step-wise guide to open PPF account in SBI, PNB, HDFC Bank

PPF account online: A step-wise guide to open PPF account in SBI, PNB, HDFC Bank

New Delhi: Public Provident Fund is among the most popular investment product. It also helps the PPF account holders to save taxes on the investments up to a specified limit every fiscal. Nowadays, you need not go to the post office or bank to open a PPF account. This can be done online as well.

Top banks such as State Bank of India (SBI), Punjab National Bank (PNB) and HDFC Bank among others offer their customers to open an account through net banking portal. It may be noted that SBI and PNB PPF account opening process is not completely online, one has to visit the bank branch to submit the required documents. However, the process of opening PPF account in HDFC Bank is completely online. Given below is a step-by-step process to open PPF account in the respective banks

State Bank of India-

1. Go to you online SBI account and log in with your user ID and password
2. Now under ‘Request and Enquiry’ option, click on ‘New PPF account’. Here you can see details of your savings account.
3. If you don’t want to open PPF account in the name of a minor, then uncheck the box and enter the five digit code of your home branch where you to open the PPF account.
4. If you don’t know the branch code, you can click on Branch Locator to get it.
5. Now select the respective bank branch name from the drop-down list.
6. Enter the nomination details. Once details are verified, click ‘Proceed’.
7. After the completion of the process, PPF account number will be displayed on net banking portal.

Punjab National Bank-

1. Visit pnbindia.com and log in with your user ID and password.
2. Now go to the ‘My short-cut’ option and click on the PPF account tab and then on ‘Open a PPF Account’.
3. On the page opened, select self account or minor account from the drop-down menu. Fill in all the PPF account opening details. Now select the name of the authorised bank branch from the drop-down list. Click ‘Submit’ tab.
4. ‘Request for confirmation’ tab will appear on the page. Enter your transaction password and click on ‘submit’.
5. A reference number will be generated. You have to submit the details filled online in a physical form as well at the bank within seven days, otherwise, the information submitted online will lapse.
6. Now download the PDF form which you have filled online, take a print-out and enter the reference number. Submit this form along with KYC documents to the authorised bank branch which you have selected for opening the PPF account.

HDFC Bank-

1. Go to hdfcbank.com and enter user ID and password to login.
2. Under ‘account section’ click on the ‘public provident fund’.
3. On the page opened, enter your bank details, nominee details, etc. Confirm the details shown on the page and enter the amount you want to deposit.
4. In order to open PPF account instantly, you must have an active mobile number to receive OTP. This OTP will be used to e-sign or e-authorise.
5. After verifying the details, PPF account will be created. You can transfer funds from your savings account to PPF account.