Step 1 – Choose the SBI Branch
To apply for opening a PPF Account, you first need to check the nearest SBI Branch, which offers PPF Account. If you don’t have online SBI Account you have to visit the SBI Branch to open Saving account first.
Step 2 – SBI PPF Account
To open SBI PPF Account, you need to visit SBI Branch (No online option). You need to submit complete PPF Account Opening Form (and other account opening mandatory documents as below) and PPF Account Amount Deposit Sip with minumum Rs.500/-.
Following documents also required to be submitted with PPF Account Opening Form
1. Copy of address proof like recent Electric bill, Telephone bill etc
2. Copy of Photo identity proof like *PAN card, Voter card, Driving license, Passport etc
3. Recent passport photos (2 copies) in addition to the above
(a) You also have to arrange one introducer, who already have a SB A/C (regular & more than 1 year old) with SBI or any other renowned person
(b) Cash Rs. 500/ Rs1000.
*for transactions above Rs 50000/- PAN is must
Step 3 – SBI PPF Account No.
Once your PPF Account is opened by SBI, you will receive your PPF Account No. and PPF Account Passbook. This passbook would contain all the details regarding your PPF transactions.
Step 4 – Make Online Payment into your SBI PPF Account
Now login to SBI Online Internet banking account and make payment to your PPF account online.