You can Open PPF account online with ICICI Bank Instantly

PPF is one of best debt investment product. As of now, all banks and Post office not developed to open PPF account through online. This made you to stay away from investing in PPF account. Nowadays all of us want online facility to transact and view our investments. So ICICI bank bade your life now easier to open PPF account through online. Let us see procedure to open PPF account online through ICICI Bank.

Applying for PPF Account through Website

Online Transaction, investment and monitor is facility which you all need. Considering this requirement, ICICI Bank came up with online facility to open PPF account online immediately. Read How to combine multiple EPF accounts with UAN? 

Public Provident Fund Account Benefits

  • Interest rates that are fully exempted from Income Tax under Section 80 C
  • Good Long term investment of 15 years
  • Deposit amount as low as Rs.500 per annum

Apart from regular benefits of PPF account, you also have accessing benefit of your PPF account online through ICICI bank net banking.

Here How to open PPF account online with ICICI Bank?

ICICI Bank is first bank which offers you complete online facility to open PPF account online. Let us see steps in opening account. You can open PPF account anytime, anywhere using ICICI banks digital channels of internet and mobile banking APP. ICICI Bank is first bank in India to offer instant Public Provident Fund account facility.

Conditions to Open PPF account online

There are certain conditions to open PPF account online immediately with ICICI Bank and they are as below. Also check How to correct name, gender, date of birth in EPF Online? 

  • You must have Savings Bank account customer of ICICI Bank
  • You must have an access to ICICI bank’s Net banking, mobile banking and APP facilities
  • You need to link Aadhaar to your saving account or need to provide it at time of opening PPF account online
  • Your mobile number which is linked to your Aadhaar must be an active status, to receive OTP which is used to e-sign or authorize opening of PPF account right away.

Procedure to open PPF account online instantly with ICICI Bank

Let us explain procedure to open PPF account online with ICICI Bank instantly.

  • You have to go ICICI net banking portal. Then log in using your net banking username and password
  • Under “My Accounts” you need to select option “PPF Account”.
  • Now you will get page, where you have to click on link “Open Now”
  • When you click Open Now, then you have to enter deposit amount initially, select branch and fill nomination facility. Even If you want to create standing instruction like a monthly investment then you can choose here. Finally, click on proceed tab.
  • You will see your account personal details like, name, address, mobile number and email id and nominee details.
  • Next Aadhaar authentication, you have to enter OTP. Once you enter OTP, your PPF account will open. Also, PPF account number is displayed instantly to you. On internet banking, you can see transaction statement and annual statement of PPF account.
  • As per above, you can open PPF account online using ICICI Bank mobile App.

ICICI Bank introduces fully digital and paperless procedure for opening PPF account. This is process of open PPF account online through ICICI Bank right away. You can follow same steps to open PPF account from your mobile banking as well.

Important Points to note

  • As per Law, an individual can have only one PPF account
  • Initial deposit amount is Rs. 100 minimum
  • You cannot open PPF account for minors through online mode. You need to visit any of ICICI bank branches
  • NRIs cannot open PPF account
  • For any changes like nomination or updating you can go nearest ICICI bank branch and give the request for changes
  • Joint-account holders cannot open PPF account online
  • You need to visit branch to get passbook for PPF account.