How To Open PPF Account In Bank & Post Office?Withdrawal & Rules

PPF i.e. Public Provident Fund is a saving instrument for income taxpayer.

What is Public Provident Fund?


Provident fund is a saving instrument in India. The PPF was introducing in 1968 by Saving Institute of the Ministry of Finance.

The PPF offers a reasonable return to the investor to their small volume saving. One major benefit acquires from PPF i.e. The investment made in the savings is deductible from the income tax.

Any individual is a resident of India can open the PPF Account and save their money.

Feature/Rule of PPF 

Compound interest:

PPF account holder gets a compound interest on their saving. Interest rate. The interest rate determines by the government periodically. Now, The government is giving 8.1% interest rate on per annum.

Maturity period:

It is allowing maturity 15 years. After 15 years you can carry your money. The government allows 5 years Maturity after one maturity period complete.

Essential deposits:

You need to deposit Rs. 100 to open PPF account. You must deposit from Rs. 500 to Rs. 1,50,000 Annually. You need to deposit Rs. 500 annually to activate your account.

Modes of deposit:

You can deposit your money in 12 installments in a different way like D.D., EFT, Cheque, Post.


You can withdraw your money at the beginning of 7th year. Withdrawal is possible with a subject to conditions.

Tax benefit:

The deposited amount and interest both are tax-free in PPF account.Withdrawals are also tax-free.

Fund Transfer:

You can transfer your money between banks and post offices but, you can’t Transfer your money via banks and accounts.


You can take it loan on behalf of PPF between 3rd to 6th month.


You can renew once for 5 years after maturity.

You can’t open joint account in PPF account  

WE can see above in feature all information about PPF account.

Documents required for PPF account

Documents required for PPF account

1) Identity Proof:

  1. A) PAN card
  2. B) Driving licence
  3. C) Voter ID card
  4. D) Passport

2) Address Proof

  1. A) Telephone bill
  2. B) Electricity Bill
  3. C) Ration card

3) Two current passport size photos 

List of Banks offers PPF account

Canara Bank

State Bank of India

United Commercial Bank

Punjab National Bank

Bank of Baroda


Bank of India

Union Bank

Central Bank

Indian Overseas Bank

Allahabad Bank

Corporation Bank

Syndicate Bank

Andhra Bank

Dena Bank

United Bank

Vijaya Bank

Bank of Maharashtra

State Bank of Travancore

State Bank of Bikaner & Jaipur

State Bank of Mysore


Axis Bank


How to apply for PPF account in Bank?

Step-1 First, you need to go to a bank to open a PPF account.

Note the list if banks which offer PPF account service to the customer as per above.

Step:2 Get the PPF application from. Fill up that form and attach your passport size photo, your PAN number, proof documents.

Step:3 Submit an application form to the bank & amount to deposit.

Likewise, you can open a PPF account at a “Post office.”


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