For the existing customers of SBI, the bank offers the facility of opening PPF (Public Provident Fund) Account online through Internet Banking. This article will provide you with the details for the same.
If you have a Saving Account in SBI, you can open your PPF Account through Internet Banking. Once your PPF account is opened, you can deposit money directly from your savings account to PPF account through the process of net banking.
For getting more benefits open PPF account in the same branch where your saving account exist then your PPF account will be automatically linked to your saving account. If you have opened the PPF account in a different branch then you can submit a request to bank link your PPF account with your saving account.
Process of opening PPF Account online in SBI
2After logging in, click on the Request / Enquiries tab.
After the Request / Enquiries tab is opened, click on New PPF Account.
ON the screen your name, address, CIF number and PAN details will be visible.
- You need to type your 5-digit branch code in the branch code option and click on Get Branch Name. You can now see your branch name.
- You can also fill nomination. (Not necessary). Add nominee name and percentage in amount.
- Then check your details and click on Submit button.
- The process of PPF Account application is successful
- Now click onPrint PPF Online Application. When you can click on this option you can see the application reference number, click on that and download your PPF account Application.
- Take print of this Application and fill the necessary details which are required and attach your passport size photo.
- After that visit your selected branch and submit your Application with ID proof (Aadhaar card, PAN card, Driving license, Voter Card) and Address proof (Aadhaar card, Driving license, light bill).
- Once your PPF account is opened, it will be linked to your saving account and you can access it online through net banking. You can deposit money in PPF account via online mode from saving the account. You don’t need to visit a branch for the same.
- So this is the process by which existing SBI customers can open PPF (Public Provident Fund) online in SBI through net banking. For the new customer, they need to fill-up separate PPF account opening form and then submit it to branch.