Be the first to share your thoughts!
Provident Fund schemes are among the most trusted, government-backed investment instruments in India for retirement planning and long-term wealth creation. The three major provident…
The Public Provident Fund (PPF) is one of the safest and most rewarding long-term savings options in India. Backed by the Government of India,…
The Public Provident Fund (PPF) is one of the most trusted long-term investment schemes in India. It offers guaranteed returns, tax benefits under Section 80C, and complete safety since it is backed by the Government of India. If you want to start investing, here’s a simple step-by-step guide on how to open a PPF account through a bank or post office.
Before you start, keep the following documents ready:
Most major banks like SBI, HDFC, ICICI, Axis, and others allow you to open a PPF account.
The Post Office also allows you to open and manage a PPF account.
| Feature | Bank Online | Bank Offline | Post Office |
|---|---|---|---|
| Process | Quick, paperless | Requires branch visit | Requires branch visit |
| Time Taken | Instant account number | 1-2 working days | 1-2 working days |
| Access | Net banking, mobile app | Passbook | Passbook / India Post Internet Banking |
| Best For | Tech-savvy users | People preferring manual process | Rural areas or non-digital users |
Any Indian citizen. Parents/guardians can open one for minors. NRIs and HUFs cannot open new accounts.
Yes, if your bank offers online PPF account opening. Aadhaar and PAN are required.
₹500. You can invest up to ₹1.5 lakh per year.
No, only one account per individual is allowed. You can also open one for your minor child.
Both are equally safe. Banks offer better online access, while post offices are useful in rural areas.
Opening a PPF account is simple, whether through a bank or post office.
Once opened, remember to deposit before the 5th of the month for maximum interest benefits.