State Bank of India (SBI) has a wide reach and is present even in the most remote areas. Many people choose to open up and invest in the public. Provident Fund with State Bank Of India,

State Bank Of India PPF The account can be opened in any branch of the bank across the country.

Here is a look at how one can open a PPF account with SBI online.

Prerequisites for opening PPF account in SBI

• A savings bank account with SBI
• Aadhaar number should be linked with savings account.
• Internet or mobile banking must be enabled.
• The PPF account should be linked to an active mobile number.
• An OTP will be issued on the mobile number provided during account registration.

Here is the step-by-step process to open SBI PPF account using NetBanking

Step 1: Login to the SBI portal at www.onlinesbi.com using your credentials.

Step 2: Click on the ‘Request & Inquiry’ tab from the top right corner

Step 3: Select ‘New PPF Accounts’ from the drop-down menu.

Step 4: The “New PPF Account” page displays. name, address, CIF number, and wok The customer will be displayed.

Step 5: Tick the box if you are opening the account on behalf of a minor.

Step 6: Enter the bank branch code and branch name of your home branch. In addition, you can provide up to five nominee details based on your choice.

Step 7: Click on the ‘Submit’ button.

Step 8: Once you have double-checked all the information, click on ‘Proceed’.

Step 9: Your form has been successfully submitted, a dialog box will be displayed. It will also have a reference number on it.

Step 10: Download the form with the specified reference number.

Step 11: Print the account opening form from the button ‘Print PPF Online Application’.

Submit the form with you at the branch key Documents and a photo within 30 days.

Once the application is submitted, a reference number for Form A will be generated. The allotted reference number will be valid for 30 days from the date of submission and will then be deleted. So, within 30 days, you have to print the account opening form from the tab ‘Print PPF Online Application’ and visit the branch with KYC documents and a photograph.

things to note

• PPF account has a lock-in period of 15 years. However, the account user can choose to extend the tenure of 5 years
• An individual can open an account in any branch in his own name or on behalf of a minor or on behalf of a person of unsound mind.
• Loans and withdrawals are allowed depending on the age and balance of the account as on the given dates.
• At the request of the customer, the account can be transferred to other branches, banks or post offices, and vice versa. The service is provided without charge.

Read also:
How to Open PPF Account Online in HDFC Bank?

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Public Provident Fund: 15 Lesser Known But Important Rules