A PPF or Public Provident Fund is known to be a great scheme and tool for small investors who are seeking to create long-term wealth by regularly investing small amounts of money. PPF offers some great benefits, too. You can read it here.
PPF, a savings-cum-tax saving investment scheme, was introduced in 1968, by the National Savings Institute of India’s Ministry of Finance.
After gaining all the knowledge about PPF, one may ask “how to open a PPF account?” The answer is simple. In India, you can open a PPF account at a bank or the post office. To open a PPF account offline, follow the below given process:
Step-1: Download Form-A online from that bank’s website in which you want to open a PPF account.
Step-2: Fill the form and visit your nearest bank branch to submit the same along with other required documents.
Step-3: A deposit of Rs.100 has to be made at the time of account opening.
Step-4: The bank will process your request, and the PPF account will be opened with the respective bank.