All You Need To Know About SBI PPF Account

By B2B Desk | Jan 21, 2021

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SBI PPF Account: The Public Provident Fund (FPP) is an investment strategy provided through private and public sector banks organized by the Government of India. This framework was initiated in 1968 by the National Savings Institute under the Ministry of Finance. As we all know that the biggest trading giant is the State Bank of India, many people are prioritizing opening an SBI PPF account as customers can find more bank branches across the country. Financial analysts also mention that SBI PPF account is one of the preferred PPF alternatives in India. For all of us, a public provident fund plan has become a popular way to create a retirement pool. Risk-free filing personality and tax-free income are the top reasons millions of people choose this strategy. The SBI public provident fund account is often among the most popular alternatives among various public and private sector banks that offer PPF account services.

Eligibility is required to open an SBI PPF account

It's a good idea to open a PPF account, but accept some of the eligibility criteria listed below:

Documents required to open an SBI PPF account

You should have the following documents on hand while applying for an SBI PPF account.

The main points of the SBI PPF calculation

Some of the main features and benefits of PPF are as follows:

Procedure to open an SBI PPF account

Generally speaking, at a specific post office or bank branch, a PPF account can be easily opened. However, if you are a SBI Bank customer, opening a PPF account is a very simple job that can be done without any hassle in just seconds. As an SBI account holder, you can open a PPF account online anytime, anywhere without compromising your convenience 24 hours a day, 7 days a week, 365 days a year. The Subsidiary Body for Implementation (SBI) has revealed the introduction of a digital portal that allows the customer to create a real account online and free Out of Trouble (PPF) immediately. Using SBI digital platform i.e Online Banking and Mobile Banking, which is known as India's first digital facility to open a PPF account provided by SBI, the process of opening your PPF account is still a few clicks away. away. Follow the steps listed below to open an SBI PPF account from your home or workplace.

How to withdraw money from your SBI PPF account?

Some of the notable components of the SBI PPF account balance withdrawal procedure are listed below:

Key points to consider when expanding your SBI PPF account

After completing 15 years from the account opening date, SBI allows you to extend your PPF account to a later period until expiration. Some important points to remember regarding the SBI PPF account extension are covered below:

Procedure to check the balance of SBI PPF Account

Using multiple online and offline methods, SBI allows you to check your PPF account balance, as well as all the account details. To check your SBI PPF balance, please follow the key details below to learn more about it.

Procedure to transfer  your SBI PPF account

You are allowed to transfer your PPF account from one SBI branch to another and from / from banks and other post offices throughout India. Follow the key details mentioned below to start the same.

First, you must contact the branch of your existing SBI PPF account and submit a request to transfer your PPF account.

A loan against your SBI PPF account

You can apply for a loan against the PPF account as the holder of the SBI PPF account, according to several basic terms and conditions, listed below:

Available methods for depositing to SBI PPF account

Deposits can be made online, such as mobile banking or online banking services, as well as offline, by check or money order to the SBI PPF account. Follow the key details listed below to learn more about the available modes.

Also Read: 8 parameters to analyse mutual funds for beginners

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