PPF account has been proved to be one of the best debt investment option. Opening PPF account in bank is one of the easiest way to start your first investment for long term. Do you know the list of banks to open PPF account? In this article I will share the process of opening PPF account in bank and also the list of banks where one can visit and open account. I have already shared the PPF account opening process in SBI. The process is almost similar to the previous article only. Few of the popular banks are SBI bank, ICICI Bank, Axis bank. I have seen many people are asking for PPF account opening in HDFC bank, which is not possible.
List of Banks Offering PPF Account.
Here is the list of banks where you can open PPF account, besides your EPF account with your employer.
1. SBI – State Bank of India
2.SBI Subsidiaries (Patiala, Bikaner & Jaipur, Travancore, Hyderabad, Mysore)
3. ICICI (PPF Account ICICI Bank)
4. BOB – Bank of Baroda
5. Central Bank of India
6. BOI – Bank of India
7. Union Bank of India
9. Vijaya Bank
10. Allahadbad Bank
11. Oriental Bank of Commerce
12. Bank of Maharasntra
13. Canara Bank
14. Central Bank of India
15. Corporation Bank
16. Dena Bank
17. Indian Bank
18. IOB – Indian Overseas Bank
19. PNB – Punjab National Bank
20. United Bank of India
21. IDBI Bank
22. Axis Bank
Is it possible to open PPF account online?
Actually PPF account opening process in bank is not possible 100% online. You can download the application form online, but the form submission is not possible online. So, you have to visit the authorized branch of the bank and then submit the PPF account opening form in the branch by visiting personally.
Download the PPF account opening form & KYC form
Make sure you ask for the KYC form as well, as filling KYC form is mandatory now a days. You can easily visit respective banks website and then download all necessary forms. Otherwise contact bank customer care people and request them to send the forms to your email address if possible.
Documents Required for a PPF Account
Documents for the PPF account are similar to the any other account in banks.
- A recent passport size photograph.
- Identity Proof copy with original to verify
- Address Proof copy with original to verify
- Account number of the saving account in respective bank
How to open account for Minor
In case of minor, the process is almost similar. But you have to carry the child to the bank while opening the account. After opening the account, the money can be transferred to PPF account online also. Just create a simple standing instruction or ECS to transfer money to your PPF account automatically as per your investment capacity. Remember that the maximum deposit possible in a year is Rs 1.5 lakh only.