Documents required to open PPF account with HDFC Bank
To open a PPF account, you will need the following documents:
- One Identity Proof (Voter ID/PAN Card/Aadhaar Card)
- Proof of residence
- passport size photo
- Pay-in-Slip (Available at Bank Branch/Post Office)
- enrollment form
Prerequisites for opening HDFC Bank PPF account online
• You should have HDFC Bank savings account and your account should be enabled for NetBanking/MobileBanking banking.
• Your account must be linked to yourAadhaar‘ Number.
• Your Aadhaar linked mobile number must be activated to receive an OTP, which is required for instant e-sign/e-authorization for PPF account opening.
How to Open PPF Account Online in HDFC Bank?
If you have an HDFC account, you can open a PPF account online at any time in a paperless manner. Here is a step by step guide:
Step 1: Log in to your HDFC Bank NetBanking account.
Step 2: Click on ‘public provident FundBanners under the Offers tab.
Step 3: Confirm the information on the following screen, then enter the amount you want to deposit.
Step 4: Choose whether you want to add nominee or not and then click on submit.
If your Aadhaar is already linked with your account, your form will be submitted, and you will receive an email saying that your account will be activated within one working day.
If your Aadhaar is not linked yet, you must do so before continuing. Once you open a PPF account online, you can directly transfer funds from your savings account to your PPF account.
How to invest in PPF online?
- If both your savings and PPF accounts are in the same bank, you can deposit online using fund transfer or any third party transfer.
- To make an online deposit, first log in to your netbanking account and add your PPF account as a beneficiary. Once you have added it as a beneficiary through NetBanking or MobileBanking you can send funds to your PPF account instantly.
- You can automate the process by giving a standing instruction to your bank, which will automatically credit your PPF investment.
things to note
- The minimum deposit amount to create a Post Office PPF account is Rs. 500 with a maximum amount of Rs. 70,000 for the initial investment.
- Maximum deposit amount in a year is Rs. 1.5 lakh to avail tax benefits.
- PPF depositors are also eligible for services like loan advance, account extension and other benefits.
- According to the latest government circular, PPF will continue to earn 7.1 per cent for the quarter ended December 31, 2021.
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