A PPF or public provident fund account is a sort of a savings account which lets one deposit their savings and get it back after a fixedtime period. The amount also incurs interest on the sum deposited.
The PPF scheme has been very popular among the masses because it is a very safe mode of investing your money. The other benefit of this scheme is that it can be availed by the lower as well as, the higher income group people.PPF accounts can be openedeasily.
They can be operated easily and are high yielding. The amount saved in the PPF account has no risk involved and is this is asmart plan of investment especially beneficial to those who are averse to risk. These are schemes that are owned by the government, and thus anyone can make use of the PPF scheme.
Opening A PPF Account
PPF account online is one option of opening a PPF account. The other way is to visit the post office or a nationalised bank branch. There are three ways by which one can open a PPF account. The post office method is simple. All that one needs to do is to visit the post office and ask for opening a PPF account. Post offices are present in most places and also easily assessable.
The second option is to visit a bank and open an account there. Almost all thenationalised banks give you the facility to open a PPF account.
PPF account online is the next generation method of investing in a PPF account. The method can be used to open an account as well as gives one the flexibility to operate PPF account online. This can be done on the websites of many of the nationalised banks
PPF Account in A Post Office or Bank
If you opt not to open a PPF account online, then you can visit a bank or a post office to open an account. You will need to collect the PPF account from the bank or the post office.
You will have to fill up the form whichrequires you to fill in the details like your name, your address, the initial amount that you want to deposit to open the PPF account, your signature and nomination details etc. You will also have to provide the required documents that are essential to open a PPF account.
This includes your proof of identity, your address proof, your savings account number of the bank through which you are applying for a PPF account and yourpicture. After you fill in the application form, you will have to submit it along with the desired amount of the deposit that you need to initially do in the account. Once the process is completed successfully,your new PPF account will be created.
PPF Account Online
In order to open the PPF account online, you will needan internet connection and a laptop or a desktop. You then need to visit the nationalised bank website that offers the PPF scheme. You will then have to go to the PPF section and then select the link that is there for opening the new PPF account.
In the PPF account online method also one need to pay the initial amount that is required to open the account. This amount can be paid towards the account using your credit or debit card. You can also choose to make the payment through net banking.
Once the account is opened the PPF account online method lets you even operate the account online easily. You can easily transfer your funds in and out of the accountthrough the online mode. You can use the online PPF process even to administer your account online.
The PPF or the public provident fund is one of the most prevalent and also the most appreciatedlong-term investment choices that arepresented by the Indiancentral government to all the inhabitants of the country. The PPF account is very beneficial because it offers various features like allowing the accountholder to avail the EEE facility. These means an exempt on the investment, the interest earned as well as exempt on the maturity proceeds. The PPF being a long-term investment easily fits into various portfolios of most of the investors who come with different risk preferences.
When you choose to open the PPF account online, you have the flexibility of opening and operating your account from the comfort of your home. This is convenient since you now do not need to beat the heat or stand in the queue to get your PPF account opening form in a post office or a nationalised bank. You can open a PPF account at yourhome and also keep administering it online whenever you want.
There are only specified lists of nationalised banks through which you can open a PPF account online. You will have to submit yourdocuments, and many banks may have different processes when you open the account online, however, the basic documentation and submission of the application remains the same.