Public provident fund (PPF) account is one of the best tax saving methods that allows you complete tax exemption under sec 80-C. Besides this, by having this account, you can have large funds for your retirement. Many among us have believe that PPF account can only be opened in the post offices, where operating this can be very cumbersome due to slow process and lesser chances of automation of procedure in the rural areas.
To facilitate this, the government has offered the convenience of operating this account in the select branches of State Bank of India, which has presence in most parts of India. The other advantage is this can be operated like a normal savings bank account.
How to download PPF Form of SBI and fill it up?
- First you need to download the PPF Form in order to fill up – download ppf application form here.
- Public provident Fund (PPF) account is available in select branches of SBI. Please check in your area, which branch of SBI has the provision of PPF account.
- The above link will give you the application form for PPF that you can easily download.
- First of all, write below
On top of the form its you have to mention the name of the branch with complete address as shown in below screen:
- Then just below it, write after “I, Your name” and mention the “Sum” that you are going to deposit in the PPF account.
- If you are going to open the PPF account in the name of the minor, give the details of his/her name.
- If the PPF account is going to be of a minor, then give below it the name and details of the minor.
- You have also to give the details of other PPF account, held by you either in your name or in someone else’s name.
- At last, give the name of the agency through which you are opening the PPF account.
- In the end, sign the form and also put the specimen signature below it.
- Affix your passport sized photo, at the right side of the form inside the box, given for it.
- You can approach the branch manager of the particular that you have selected for opening the account with address proof and identity proof.
- He will facilitate opening the account in the branch.
That’s all you have to do. Now you can visit to the nearest SBI account and submit the application form. Just make sure that your nearest SBI branch accepting the PPF form as all branches don’t accept it.