PPF-Public Provident Fund: Things You Need to Know!
In order to utilise modest savings in the form of investments with a return, the Public Provident Fund (PPF) was established in India in 1968. PPF is also an investment instrument that allows one to accumulate retirement funds while reducing yearly taxes. A PPF account can be opened by anyone searching for a secure investment alternative to reduce taxes and receive assured profits.
- Use your login information to access your online or mobile banking.
- Select the option under "Open a PPF Account".
- Choose "self account" if you are establishing the account for yourself. Select the "Child Account" option instead if you are registering a new account as a guardian for a minor.
- You must complete the application form. Enter all the necessary information and submit.
- You may set up a standing instruction for the bank to regularly deduct the invested money from your account.
- Verify the application by entering the OTP sent to your registered email address or cell phone number.
- Post verification, you will get a confirmation email after your PPF account has been successfully created.
Benefits Of PPF Scheme
How Much To Invest In PPF?
PPF permits investments starting at Rs 500 and going up to Rs 1.5 lakh every fiscal year. A maximum of 12 instalments or a lump payment may be used to make investments.
Frequently Asked Questions on Public Provident Fund
¹ Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.