PPF Account: Open Public Provident Fund Account in SBI

Personal Finance

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Investment Scheme

 A Public Provident Fund (PPF) account is a long-term savings scheme in India.

You can withdraw money from your PPF account after 5 years, but there is a penalty for early withdrawals. 

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Long-term investment: PPF accounts have a lock-in period of 15 years, but you can extend the account for another 5 years after maturity.

– Minimum deposit amount ₹500 – Maximum deposit amount ₹1,50,000    per financial year

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It was introduced by the National Savings Institute of the Ministry of Finance in 1968.  

The main objective of the scheme is to mobilize small savings by offering an investment.

How to open PPF account online in SBI