Saving tax is considered much better. Public Provident Fund Limited is considered to be one of the risk-free investment avenues that starts yielding average returns above inflation.
If you talk about EEE (Exempt-Exempt-Exempt) category with PPF account, then some tax exemption is also being given. If it is seen in a simple way, then it is understood that the returns, maturity amount and total interest received during investment have been made tax free.
What is the current interest rate in PPF account
At this time, the interest rate of 7.1 percent starts getting in the PPF account. PPF accounts can be opened at post offices or authorized commercial banks. Talking about the country’s largest government bank, State Bank of India (SBI) customers are being given the facility to open PPF accounts online. With this, you also start opening Sukanya Samriddhi Yojana online.
These are the documents required to open PPF account
Enrollment form, passport size photograph, Permanent Account Number (PAN) card copy, ID proof and residence proof as per bank’s KYC norms are required to open a PPF account.
How to open an account in SBI
- First you have to log in to onlinesbi.com.
- Go to the ‘Request and Enquirers Tab’ tab and click on ‘New PPF Account’ option.
- Click on the ‘Apply for PPF account’ section.
- Enter the branch code from where the account is to be opened, now fill the details of the nominee and submit it.
- An application number appears with the message of successful submission
- You can print the account opening form from the tab ‘Print PPF Account Online Application’.
- Know Your Customer (KYC) documents and photographs within 30 days by visiting the bank branch to view the information.
