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Flexibility to withdraw fund value any time
Guaranteed Tax SavingsUnder Sec 80 C & 10(10D)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
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The SBI PPF account is offered by the State Bank of India, which is India’s one of the most trusted and most popular public sector banks. With the advancement of technology, it is now possible to open SBI PPF online. National Savings Organization started this scheme in 1968 to offer flexibility to mobilize small savings.
Public Provident Fund (PPF) is a Government of India scheme, and it is a long-term investment scheme that also offers lucrative interest rate and optimal returns. The investments can be as low as ₹500 and a maximum of ₹1.5 lakh in a fiscal year. Moreover, one can avail loan facility between 3rd and 6th fiscal year. The scheme also offers partial withdrawal facility from the 7th fiscal year.
The money invested in this scheme is safe and secured. Moreover, the scheme offers Tax Exemption Benefits on the deposited amount. Some of the key features of SBI PPF Account are listed below:
Generally, a PPF account can be opened in a bank branch or a designated post office. But for an SBI account holder, opening a PPF account is quite convenient and time-saving. SBI customers can open a PPF account online at any time of the day.
SBI has also launched a digital service through which customers can open a Public Provident Fund (PPF) account instantaneously online in a paperless manner.
SBI customers can open a PPF account anytime, anywhere as per their convenience through the internet and mobile banking/Mobile App.
Mentioned below are some prerequisites to open SBI PPF account online:
The steps to open SBI PPF A/c online are listed below:
The following documents are required to open a PPF account in SBI:
Related Read: National Pension Scheme (NPS)
Q1. What is SBI PPF Account?
It refers to the SBI Public Provided Fund. There is a lock-in period of 15 years. You can open a PPF account by visiting the bank branch and also do it online. It comes with partial withdrawal and loan facility, which is subjected to terms and conditions. The PPF account in SBI can be opened online or by visiting at the branch office of SBI.
Q2. How can I withdraw my PPF amount from SBI?
You can withdraw the SBI PPF amount on maturity of the scheme or on the death of the account holder.
Q3. Is it possible to transfer money to SBI PPF account online?
Yes, you can use the internet banking facility to transfer money to your PPF account online.
Q4. What is SBI PPF Interest Rate?
Currently, SBI PPF interest rate is 8% per annum.
Q5. Can I deposit PPF amount online in SBI?
You can deposit PPF amount online in SBI through their official website.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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