How to Open a PPF account at SBI Bank

Most of us want to open a PPF account, but keep postponing it just because we don’t know the requirement of doing so? It seen that majority people open their PPF account with State Bank of India. Let us see 3 easy steps of opening a PPF account in SBI branch.  The whole process does not take more than 30-45 minutes if you prepared in advance and go with all the documents that are required and there are no road blocks in between. The biggest advantage of opening the PPF account with SBI is the online transaction facility you can use to deposit in your PPF account online and dont have to rush to the branch every now and then. Read why you should open a PPF account in SBI even if you dont need it right now.

3 Steps of Opening a PPF Account in SBI Bank

PPF account in SBI

1) Choose a SBI branch which is authorized to go government business.

Usually any ‘large’ branch with lots of customers should be able to this! Usually newer and smaller branches may not have this clearance facility. One doesn’t need to have a Saving Bank  account in that branch. Locate your nearest SBI Branch using this

2) Procure and submit PPF account opening form and Identity/address Proofs

It would only 3 minutes to fill. Choose a nominee and get a witness signature. Now you have to submit anyone of following Proofs.

  • Passport
  • Pan card
  • Driving license
  • Voter id
  • Ration card
  • Two Passport Size Photographs

Any government issued identity card or address proof should work. Keep originals for proof in hand to simplify the verification if needed. That’s it. The bank should now be able to open the account. Usually it may take about 20 minutes or so.

3) Get PPF Passbook

A pay-in slip needs to be filled and the initial subscription needs to be credited into your account. A passbook similar to a Saving Book passbook will be issued with your photo affixed and the nominee’s name stated.  PPF rules can be found on the back. This is all, your PPF account in SBI is opened now.

How to Link your Online SBI Account to SBI PPF account for Online Transaction

If you have an online SBI account, you can add the PPF account as a third party account for transferring money directly. As mentioned above the PPF account can be in any SBI branch. There are no processing charges for doing this transfer. When you do this online for the first time, go to the bank and update your PPF passbook and check if the transaction has occurred correctly. This has to be done since you cannot look at the amount in the PPF account as yet in SBI. This is a major drawback of SBI-PPF (and post office) accounts.

A standing instruction maybe issued from your online account for auto-credit to PPF. However there are two disadvantages

  • Rarely there maybe system failures and the standing instruction may not get honoured. So you need to check if it has occurred.
  • You cannot subscribe a lower amount if you need the cash for emergency use (this situation wont arise if you had an emergency fund )
  • You need to go to the bank to cancel the standing instruction .

There are only 12 credit transaction allowed per year. So take care of this before issuing a standing instruction.

How to Transfer your PPF account from One Bank to Another

  • Go to the branch where you want to transfer your PPF account and deposit an application with your PPF passbook
  • takes 10-15 minutes

How to Submit Proof for Tax

Take xerox of the PPF passbook updated with all transactions and get it attested in the branch. (not sure if the attestation is really required) [ Update 5th Feb, thanks for Mithilesh ]

Other points to Consider

Subscriptions must be made before the 5th of every month for the amount to taken into account for interest calculation for that month. If you want to open a PPF accoun in the name of a minor in addition to yours, the total PPF investment limit is Rs. 1,00,000. The total tax benefit is also the same. This is a new rule and is not yet printed in the PPF passbooks! See Here, Here and Here for more detail

Comments please. Are you going to Open a PPF accoun this year? Do you feel one should open a PPF account at Post Office?

818 CommentsAdd Comment

  1. Rakesh

    Thanks Manish for another excellent post. Though had a fair idea on PPF but now you have explained the fine granualities, never heard about the online facility. I have ppf account with state bank of bikaner and jaipur bank. Since i don’t have an acc. with SBI, I would be able to awail the online facility.
    Keep up the good work. Yes i totally agree that Pattu contributes a lot to this blog and i make sure to read his comments too…


    • Rakesh

      So you can do the online payment to SBI PPF account with other bank Account ? I thought that you cant ? Did you try that ? Let me know more .


        • Amandeep

          Great , In that case I can transfer from my ICICI Account itself , no need to open a new account in SBI . Do you think ICICI account PPF account can have some issue ? As its a new thing these days . Have to find out more on that :)


          • Nilesh Panchal

            Hi Manish,

            I am using SBI Savings and PPF Account and I am regularly crediting money from my SBI Savings account to PPF Account. This transfer is a Credit to PPF Account transfer in Online SBI and not a NEFT transfer so I think you can not transfer from ICICI Bank to SBI PPF direct. Please check it with the bank. However, this facility of online transfer has made my life easy and even for giving income tax prrof I can take the statement online and submit.

            • Anand

              Can you please tell me how to add your PPF account to SBI savings bank account? Do we need to visit the branch for this? or can this be done online itself?

              I have SBI savings account with online access and also PPF account. But I have not linked these two. I had visited the branch personally but folks there did not have much idea.


                • Krishna

                  Hi Manish &other members.
                  Iam not sure where to start i opted manish reply.
                  As vicitm of a ULIP i started exploring the internet for
                  financial matters and find this site interesting.

                  My advice to people with any one having SBI Saving account(or who wants to open newly) is ask Bank personal to open PPF account with same customer ID of saving account(vice verse) and ask them to link to online This gives facility to have one user ID for both SB and PPF
                  Hense take care while opening it self .

                  I respect individual opinions on PPF.
                  But for people who are not in favor of PPF please go through this link
                  I am fan of this person Mr Sandeep Shanbag
                  This link gives summarized information of PPF
                  Please read Second para for Why to open PFF account
                  The above article inspired me to open PPF account
                  Hope some will be inspired like me with second para.
                  For others information in this article may be old wine in new bottle.
                  But i assure you it is precise.Nothing unwanted.
                  Even SBI may be bankrupted and maximum insuance for bank account is only one lakh,But PPF is secured fully.

                  I suggest every one to read his articles on taxes and investments etc.

                  Probably i will come to you in ULIP Section.
                  Needless to say All comments are accepted .

                  Thanks and Regards

            • Deepak Srivastava

              Could you pls explain me how to map ppf a/c with sbi saving a/c.
              I have tried but it says “You have only one a/c mapped with this username.You are there unable to do funds transfer”

            • aditya

              Please let me know if we ccan directly do a NEFT to SBI PPF account from other bank a/c. I have Axis Bank account


        i am sbi account open for details devlivery for my email id’s completed then used my open the account. please recived for deteails coming soon for my id proof.
        Thanking You
        by MARIMUTHU R

      • Hi Manish,

        I am based in Hassan and my permanent address is of Ahmedabad. Today morning I went to SBI branch and they want me to bring local address. It is almost difficult for me to get local address. If I see the form then it says subscriber’s permanent address which is my Ahmedabad address. Now I am not able to understand to whom should I ask about this for clarification.

        Your comments.


        • Ankur Jain

          I went to my bank with two requests. 1 to transfer my ppf account from other bank to current bank and 2, to link the ppf & savings account. To which the customer relationship person replied, that transferring may take time and you may loose interest and that he recommends to tansfer in feb, march or april. for 2nd request he replied that its not possible. My ppf account is already 10+ years old ( when banks were not online ). So my question is whether I will loose interest if I transfer the ppf account across sbi branches and 2nd cant the userid and ppf be linked so that i can see the balance in ppf account. Kindly clarify. Thanks


          • 1. This is possible , they are talking about the interest part which can be lost in the process of transferring , but I doubt that also ..

            2. This is something very much possible , just the bank official does not know this , you can file an RTI application and seek a proper reply on this from SBI , sbi comes under RTI

            • Ankur Jain

              Thanks Manish,

              One more doubt I do have. One account of my Family is in Post Office and just 2 years old. Can that be transferred to SBI ? Logically if I think, SBI / PO is only taking the money and depositing with govt. Govt. is giving interest depending on the amount yearly. So if I transfer the account the money is still with govt and only the collection agency ( SBI / PO ) is changed. Is this change possible ? Since PO is not online it will always be an issue to go physically to PO and deposit and take receipt. One more thing, ICICI has started online PPF account as I see recently on the site. Do they allow to see the PPF account details online ?


    • saurabh

      hii, 2day i went 2 an sbi branch near 2 my place in lko..they askd me 2 get a savings account b4 trying to get a ppf. can u guys help me put wid dis…isn’t it ok if i go on opening ppf account with some other bank pnb,obc…

  2. pattu

    Thanks Rakesh. State Bank of Bikaner falls in the state bank group. So if you open an acc. there you could pay online. Also see if Jaipur bank allows you to enter a ppf acc as a inter bank transfer acc. Then you could pay by NEFT or RTGS. But make sure you check with them and try out a small amt transfer to see if it works.

    • Pattu

      So If we have a PPF account with SBI and any SB account with a Nationalised Bank , we should be able to do the online transfer to PPF account . Why its not possible with ICICI or HDFC ? Bank restriction or PPF restriction ?


        • Sachin

          Could you transfer the ammount from X bank to PPF account?

          I have a salary acc with HDFC . I want to know if I can transfer money online to my PPF acc in SBI.
          Please help.

        • Jayaprakash Kanreddy

          Hi AmanDeep, Can you let us know whether your transfer from ICICI to PPF account succeeded? Did you update your passbook?

          I’ve also done a test transfer, most probably I’ll update my passbook tomorrow and then I’ll post my status.

          Jayaprakash Reddy

          • Jayaprakash Kanreddy

            Hello Everybody,

            I’ve successfully transferred money from ICICI savings account to PPF account in SBI. I’ve registered PPF account as savings account of SBI in ICICI payee list. That’s it, I transferred the money and that got credited to that same day. This is a normal NEFT transfer. Hence this confirms that we can transfer online from ICICI to PPF account in SBI.


              • Ripdaman

                Hi Manish

                After reading this article, i also tried to tranfer funds from my ICICI account to my PPF account in SBP. However, the funds were returned back to my ICICI account. What could be the reason?


                • jayaprakash


                  I tried with SBI, it worked. May be it depends on the bank system. As SBI gives same kind of account number for PPF accounts as savings account, so in that way it might have worked for me. Not sure about SBP. Interestingly when I asked in the same branch while opening PPF account about this transfer from ICICI they said it is not possible, but when I went ahead and transferred it was done and I even confirmed it by updating my PPF passbook in the same branch, though I didn’t cross question them about this net transfer.

                  • Ripdaman


                    I also think that SBP could be the issue for non transfer though i thought SBP and SBI would be using the same web platform.
                    But just out of curosity… i have been issued a 11 digit PPF Ac no with only numeric digits…is it the same everywhere or a zero needs to b prefixed or sufixed to the Ac no? Please let me know.

                    • Jayaprakash Kanreddy


                      Even I have 11 digit PPF account number all numerals. I didn’t prefix any zero while registering my PPF account as payee with ICICI. May be you can visit and find out the reason, saying that online transfer to SBI is working and not to SBP. If they are clever enough knows about NEFT then they may be able to give you some clue. All the best.

                    • Jayaprakash Kanreddy

                      Actually I’ve sent screenshots to Manish about registering PPF (SBI) account as payee through ICICI. May be you can ask him to send that information to you, so that you can cross check the procedure you did.

                      One more new information which I’ve come across recently, since October 6th RBI has changed some more guidelines to banks related NEFT. If the payee name is not given as per the bank account records, while transferring the amount through NEFT it doesn’t get credited to destination account. Earlier it was not that strict in this case, even if you interchange the position of surname, first name they are not accepting transfers. Check out whether you made any mistake in this regard

                  • Ankur

                    Hi! Jayprakash

                    My PPF account is 11 digit and at the time of adding PPF account in ICICI ….the site asks for 12 digit account number or else it wont register a new payee….is there any way you can help??

                    • There are some set of PPF accounts number which will not work , may be yours is one of them .. try prefixing 0 at start or end and then try for rs 100 transfer

            • Usha

              Is there a way to check the PPF account statement online? I have IDBI PPF a/c and if I transfer money thro SBI a/c then will I be able to see the PPF a/c balance online thro SBI…How can I get the confirmation whether the money got credited or or instead of going to bank and take the stmt….

      • pattu

        From the thread below it looks like we can transfer by NEFT/RTGS to PPF. Which is great. I haven’t tird this myself.

        • Pattu

          Great , In that case we now know that we can transfer from any X bank to our PPF account which is open at any Nationalised Bank :) . Great :)


  3. Amit Kumar

    I like your post especially now that you have started putting up graphics in them . Makes them look good and probably easier to understand. PPF has always been in my “to do” list :) but last time I went to SBI they were not very enthusiastic to open a PPF account. They tried to push me for FD. So i am still without a PPF account. Reading your post I think I am gonna try once more. Would let you know my experience this time :)
    .-= Amit Kumar´s last blog ..Who is my competitor? =-.

    • Amit

      Thanks Amit , I will try to put more of graphics now onwards , infact I am doing that already from last many posts :) . Did you ask them questions like What is the reason they are not opening up your PPF account and Do you need to file an RTI for this to get answers ? I am sure they will do it faster then .


      • Amit

        Well guess whats the first question SBI asked me when I said that I want a PPF account in there branch –
        Why SBI?
        & I was damn !@#$%^ – SBI should explain me why I should come to them rather than they asking me Why I actually came to them. So i don’t think their “Sarkari” attitude has changed.
        But as for PPF Account is concerned you can also open in ICICI Bank but I don’t know why they don’t market it. Probably its because their own FD rates are lower than assure 8% rates of PPF.
        .-= Amit´s last blog ..Why Sachin Tendulkar does not endorse any Mutual Fund Product? =-.

      • Arindam

        Hi.. PPF funds dont remain with the bank but needs to be transferred to ta common pool of the bank .. so the funds at PPF sbi Branch is not considered really for the Branch, business figures. PPF is a low cost business model for the bank which thay have to do because the Government insist the bank in it… for the the public benifit . While FD opened in the bank will be counted in the branch’s business data. This is the reason why they push for FD instead of PPF. these days even the PSU banks have their branch targets… gone are good old days of ‘ sarkari bank naukri’….

  4. pattu

    “last time I went to SBI they were not very enthusiastic to open a PPF account. They tried to push me for FD”

    This represent serious conflict of interest and is downright wrong. I think your bank wanted to push FDs for their own sake and their statistics.

    • Pattu

      Can we not directly ask them the reason they are not very much ready for PPF account opening and What do they gain personally by opening a FD , any commission kind of thing here ? What is the conflict of interest in this case ?


      • pattu

        Bank gains nothing if someone opens an PPF. Maybe a small fee from RBI. Whereas with FD SBI I guess gains better liquidity for lending etc.
        The conflict is, every bank has some target every quarter to achieve in terms of SB, RD and FD accounts. So by pushing for FD the bank is looking at its own interest not the customers. Hence the conflict.

        • Pattu

          Ok . I never thought that way . I was looking at banks from convenience point of view to customers and not a business :) . What you suggested makes sense . Good one .


  5. Ramanji

    Hi manish, ,

    (This has to be done since you cannot look at the amount in the PPF account as yet in SBI)
    if we have online SBI account,then PPF account is linked to main account automatically ,
    so we can check balance , transfer to PPF also done easily,there is no need to go to bank for checking balance,
    i am having SBI account and PPF account from last 8 months..

    • Ramanji

      Nice to know that. Pattu , Can you do this for yourself and confirm .

      Ramanji , What was the reason you went for SBI and not Post offices ? Is it just convenience ?


    • Saurabh

      Here is how you can transfer it .

      The State Bank of India/its subsidiary will issue an “Account Payee Cheque” or a Demand Draft for an outstation transfer. The “Account Payee Cheque” will be in favour of the transferee Head Post Office along with a certified copy of the ledger and all other related records in original like –

      o application for opening the account
      o application form
      o signature cards and
      o nomination forms.

      The cheque/draft will be drawn by designation and will indicate that it relates to PPF Account No……….. On receipt of the PPF account on transfer with the cheque or draft from the bank, the account will be opened at the transferee Head Post Office like any other new account is opened. The transaction will not be included in the credit transfer journal but will be entered in the list of transactions like other new accounts opened by cash.

      • MK Gupta

        Hi Manish, The Query I have is the same but what you have mentioned is reverse what we need to know. Let me explain:
        I have existing PPF account with a Post office & need to transfer to SBI. Let me know the process.

  6. Anup

    Again a good post… :)

    I think a very important point is that, you start PPF account now. Though you don’t want to put much in PPF now… just maintain it at cost of Rs500/year. When 10 years down the line, you think you need some short-term & secured returns, put max in PPF. You will get amount after 5 years with the interest rate prevailing at that time.

    Keep up the good work Manish and Pattu.


  7. Mayur

    The SBI branch in which I have an account in Pune showed much disinterest when I tried to open a PPF account in the name of my spouse & minor child. Also, they repeatedly gave me incorrect information that “As per new RBI rules, PPF account cannot be opened in the name of minors”. This is sheer lies. They do not have any incentive to operate PPF account, I think. I went to the local post office and was able to open both the accounts in a matter of minutes, no questions asked. I didn’t even take help from any PPF agents in the post office. There are quite a few PPF agents in post offices if you don’t feel like standing in the line for a few minutes. I don’t mind making an annual trip to the post office than put up with the callous attitude at SBI every time.

    • mayur

      thats very bad to know . How can SBI do this . I dont understand why they are not very keen on opening PPF account for customers ? Do they loose on anything or is it just paper work ?

      How much time did it take for post office , was it just minutes :) ?


        • Hemant

          Yeah . that makes sense . Pattu told me the same thing and that looks logical . In that case , we better have PPF at post office if its going to be bad service issue from Bank :) .

          Ohh my , in that case how will other private banks treat it , Considering they want to manufacture ULIP’s with amazing speed , they will never advertise about PPF .

          What do you feel on that ?


  8. PK

    When you open a PPF account in Post-office you generally get 1% commision from the agent on the amount you deposit in PPF. I am not sure if you get any commision by opening an a/c in SBI.

      • srinivas

        Post office pays 1% commission to the agent through whom you opened PPF account. He gets 1% only when you deposit money via him. so It’s a mutual benefit.
        you can negotiate a deal with your agent to pay back 0.5%.
        I do such negotiation. but I am not going to deposit more than 500Rs for another 6 years. after I complete 10 years of PPF. I will deposit money for risk free and medium returns.


    //update your PPF passbook and check if the transaction has occurred correctly. This has to be done since you cannot look at the amount in the PPF account as yet in SBI//

    Manish, i have savings a/c with netbanking facility and PPF a/c in same branch of SBIafter reading your blog only, last month i opened an PPF a/c in SBI. Thanks to you.

  10. Marshal

    Manish good post, and you will be glad to know that i do have ppf and saving a/c in sbi and i transfer online from saving to ppf…..
    this time i have tried standing instructions.. let see if it works out…
    i didn’t know that 5th wala funda.. but good to know this..

    • Marshal

      Nice to know that . the interest is calculated on 5th always , so people try to put most by 5th so that they get interest on most of it . If you have 50k in your account on 4th and then you deposit 50k on 6th , you loose out on 50k interest :)


  11. Anand Sharma

    I wanted to open a PPF account in SBI but the branch near my place which also has ample parking space nearby does not offer this facility and the next nearest branch which offers PPF accounts is in a very congested locality where it would be extremely difficult to find a decent parking spot. Also the employees of that branch were not too keen on offering the PPF facility to me. Hence I walked in to the nearest post office and opened one. People may laugh at the criteria I used to select where to open my PPF account, but I did what I felt was good :-)

    • Anand

      I think its fine that you open PPF at post office . SBI is not the only one . we are having this post as most of the people like SBI bank for banking and will have atleast one account in SBI .

      Overall , the last thing is what we are comfortable about . So are you facing any issues with your PPF with post office ?


  12. Even opening in a post office doesn’t take much time. Do choose post office only when you have your permanent address there as PPF is your long term commitment. And PPF will be available in all the head post offices in your area and everyone will be more than willing to open the account. Also, it is better to invest the amount in PPF at the start of the financial year itself instead of waiting till the end of the financial year.

    You can also go via an agent, if you prefer to and he will get 1% commission. He will certainly make your life easier.

    And believe me, always there will be some rush in the post office while paying your premium and it doesn’t come with the comfort of sitting in your chair :)
    .-= Manickkam´s last blog ..Recharge with =-.

  13. Praful

    Ya To Open a PPF a/c in SBI Branch is very simple task. In last month i opened my PPF a/c so it took my 1 hr hardly including form filling and all stuff. I have a little doubt here we can not check amount deposit in that a/c is it so?
    and yes u can transfer the money from net banking from any bank.

    • Praful

      As per the article , we have to do it manually for the first time for checking the amount and better if we can verify it :)

      Are you not able to do so ? How were you managing it till now ?


  14. Ganesh Kamath

    I have an online account with SBI and it never cmae to my mind about the online transfer.
    thanks for the information. what about the receipt for claiming tax rebates.
    do we have to take a print out.?
    excellent article

  15. Again nice article. When I opened my ppf 3 years back in post office, I talk to the officer for moments. He told me that the money you deposit in PPF is belongs to RBI only. At the end of day, all banks or post offices where you deposited money must transfer it to RBI. So, there’s no need to go for ‘trusted’ or secure entities. You can open in any bank or post office which are authorized and most convenient to you.

    Regarding online transfer, this is something I think I am not able to use with PPF account opened in post office. Any thought, if its possible or its only possible if I transfer my account to SBI as I already have saving account with SBI.

    another note, transferring your PPF account is very easy.. just submit an application and your PPF passbook to branch (bank or post office) where you want to transfer and they will communicate to original one to transfer. I have done this from one post office to another and it took hardly a month to get things done.

  16. Pradip

    @ganesh kamath, for claiming tax-exemption you have to submit a xerox copy of your PPF passbook containing updated entry of the payments made in the current financial year.

  17. Hi,
    I was planning to open up a PPF account since last many months but was getting delayed without any specific reason… I opened my PPF account 3 days back only and it took only 15-20 mins max.
    Manish you mentioned “The biggest advantage of opening the PPF account with SBI is the online transaction facility you can use to deposit in your PPF account online…” I happened to ask the same question to the bank employee. She confirmaed that I can transfer the funds online from any Account (in my case ICICI).
    .-= Amandeep SIngh´s last blog ..What is a ‘Reverse Mortgage’ Scheme? =-.

    • Amandeep

      Ya , I was not aware that we can do that from any bank , this is “Kushkhabri” :) . I wanna to try PPF account with ICICI bank :) . Lets see


  18. mithlesh

    Thanx manish for the excellent and easy -to-understand article.

    I’ve a savings account as well as PPF account in SBI. This is very easy as the accounts are linked and we can transfer money to PPF within seconds.
    For IT proof, I take xerox of the PPF passbook updated with all transactions and get it attested in the branch.(not sure if the attestation is really required)

  19. Vinod

    I’m surprised to hear so many complaints about the way SBI staff seem to treating PPF investors. My wife is planning to shift her account from the PO to an SBI branch. Let me see how they handle it. Will update you on it.


    • Vinod

      So as per the discussions , we have come to conclusion that PPF is a govt thing finally and hence it goes to RBI , Banks do not have any incentive or may be very small incentive to have PPF accounts, rather they are more interested in FD’s which atleast help them get cheap money which they can then lend to get more on interest .

      What are the other alternatives you can think of ? Are you thinking of PPF at post office for sure ?


  20. yogesh

    Hi Praja,

    Yes NRI can open PPF account.No problem.

    Hi Manish..I have open PPF account and putting 70,000rs yearly..

    PPF Calculator is on same concept as annuity calculator but with additional information.

  21. kavita kamat

    Hi Manish,

    very useful information regarding PPF account. my husband wanted to open an PPF account; but as he has only 10 years service left we didn’t open an a/c. Can we open the account now.

    please reply.


    • Kavita

      Sure , there is no restriction like that to open a PPF account . Just that you have to consider that the PPF will mature only after 15 yrs fully (partially unlocked after 5 yrs)

      Where are planning to open ? Bank or Post office ?


      • kavita kamat

        Thks Manish, for such a wonderful site and valuable information, as i am a housewife i wouldn’t know such valuable infmn from anybody and nobody would like to explain it in detail thinking what we would really understand, as we are housewifes. Again Thank U Very Much.

        i would like to open PPF A/c in a post office.
        Is it that we have to hold the account till 15 years till the same matures. Pl can u tell me what is the maximum amt u can put in a month in ppf. ….. kavita

        • Kavita

          Regarding “Nobody would like to explain it in detail thinking what we would really understand, as we are housewifes” .

          This is worrying and sad too .. From decades and centruries , Men are taking up the primary task of managing money and leaving women to just do household chores , that totally crap mentality . If women have power to mange house , she can manage money also and they are good at it . And if no one teaches , there is no issues , you can take charge and find out yourself over net and magazines and I am sure you will do very well .

          The fact the you are ready to learn and have taken action already to understand financial stuff in itself is worth appreciation and great. most of the women do not know basics of investments and how things are managed and this becomes a curse at the time of premature death of men or divorce for a lot of women , when they have to suddenly take charge of everything on them. Financial education or for that matter any thing is not gender specific .

          So go forward and read all the stuff on this blog and also share it with other women , I am coming up with a seperate article on coming days on “Personal Finance for Women” , “How housewives should manage their money” and “Why Women need to know Money Matters” in future , so watch out for it .

          Ask questions when ever you dont understand anything however small or idiotic it may sound . there is nothing like silly or small questions .

          Regarding your questions on PPF .

          1. “Is it that we have to hold the account till 15 years till the same matures”

          PPF is a long term product and one can save some part of their investments into PPF . The policy matures after 15 yrs fully , but after 5 yrs you can start partial withdrawals subject to some restrictions and rules (find them) .

          2. “n u tell me what is the maximum amt u can put in a month in ppf”

          Min : 500 , max : 70,000

          You can also open a account on your Child who is minor and contribute towards that , but it will come in this limit only . Also the amount upto 70k will come under section 80C .

          Ask if any doubts are there .


          • srinivas

            One more thing. Only 12 deposits can be made in a financial year.
            If you intend to deposit 70,000 per year then 70,000 divide by 12 is 5833/- (monthly premium).
            Open your PPF account with agent and negotiate a deal to get 0.5% on his commission. if you deposit 70,000 then agent gets Rs 350 and u get Rs. 350.

            In your case (husband with 10 years of service), I would not recommend PPF because of following reasons (we can discuss more on this here as we here your near term goals and financial health)
            1. PPF is locked for 15 years.
            2. Govt can revise interest rate every year. By looking at the history, I think interest rate may come down to 7.5 and 7% in 10 years term.
            3. As per new direct tax code, maturity amount will be taxable

          • kavita kamat

            hi manish,

            when r u coming up with the article “Personal Finance for Women” . We all housewifes are waitg for the same.

            Thank U


            • Kavita

              The first article which would come is “Why Women should Learn Finance” , after that there would be more posts more focused on women , but its not the next thing , there are couple of things planned like “How Highest NAV plans work” :) . Overall all the article on jagoinvestor can be read by both men and women , for now enjoy those , Wait for couple of weeks :)


    • Debashish

      Its pretty old date :) . I am not sure if ICICI is currently offereing PPF or not ? Did you check with them ? even if they do , it seems like a bad service from their side .


  22. I was planning to open one this week, and bulls eye again. Here’s your post. There is some coordination between us. Last few days back I wanted to open Term Insurance and I received your post on Religare. And this week I was planning for PPF and I got this one. Thanks again.

  23. Today I went to SBI Banaswadi branch, Bangalore to open a PPF account. They said opening a Bank account with that SBI Branch is mandatory, otherwise I can’t open a PPF account with them. I wonder if I open a PPF account through Post Office then what type of Post Office account is required. I found its wiered, Manish do we really need to Open a bank account with SBI before opening PPF account with SBI ? Also my Native is Jamshedpur, so if I open a PPF account in Jamshedpur then can I deposit the amount in my PPF from any branch or I need to go to that branch only ?

    • mithlesh

      Hi Brij Mohan,

      I had opened PPF account in SBI two years back and there is no need for a saving account for opening PPF account.Both are different things.
      Best thing would be to open a sbi savings account along with PPF so you can do online transfer easily . In case you dont wish to do so you can open only PPF but you have to go to that particular branch to deposit into PPF.
      If you open PPF in Jamshedpur, you have to go to that branch in Jamshedpur to deposit money into PPF.
      I hope this answers your question.

      • Yes I understand, its convinient to open both the account together, but in my case its not optional for me, they are saying its mandatory. And not accepting my PPF request without the AC Opening in the SBI.

        Anyway I think if I will open an account with SBI and link it with my PPF, then even if I am at any place but I can manage it online.

          • srinivas

            It is just their business tactic. So that they get one saving account created and after it is done, you will most probably transact. more benefit for them.
            It is not mandatory to open Savings account with PPF. Talk to other SBI branch.

    • Brij

      They are lying . There is no such rule .Ask them that you want to talk to manager and if manager dont agree, ask them to show you the rules where its mentioned by govt .

      You cant deposit the PPF amount outside your branch , the best thing would be to link it electronically and pay online .


      • Ranjith

        Hi Manish,

        Last week I walked into SBI account near HAL in Bangalore and enquired about opening a PPF account. The lady told me its mandatory to have a savings account in SBI to open PPF. She also tried to talk me out of PPF and tried to sell me SBI life insurance which guarantees a “higher than NAV” return. I said I was not interested and walked out.

        Today I have come back to my hometown of Thrissur in Kerala for vacations, and went to SBI Thrissur branch with the same query. The branch manager here told me its not mandatory to have SBI account and straightaway gave me the form to open PPF. Not only that, she encouraged my move of going for the tried and tested PPF system instead of falling for investment agents tricks. The account was opened in under 5 minutes flat.

        One think I noticed was that the PPF application form does not ask for applicant’s date of birth or even guardian’s/fathers’s/husband’s name. This is something I have filled in every form till date (even some feedback forms). I was also not required to take a witness’s signature. Is this normal ?

        • Ranjit

          Can you see if the form was like this :

          PPF is an investment and nothing else.. so there is no point of having a witness signature .. Regarding age , I am not sure , but if you are giving some documents then your DOB will be there. . also all what is needed is that when you opened your PPF account .


  24. varun agrawal


    1). what is advisable , one shud open the ppf account on its native place or the place where he is working ? coz as i come to know dat transfer of ppf from one branch to other( bank/post office)
    is not much easy, means lot of exercise u have to do…?
    ( what u say )

    2). if suppose he opened the ppf on his native place sbi branch, then can he get his passbook updated in any branch of SBI in india, and can he deposit the money in ppf…from any branch..?..
    same can we do in postoffice also..?

    is it possible.?


    • Varun

      1) The best thing would be to open it at the place of your working , as the underlying thing is that it should be close to you and probably you are going to work at same place , however if you set up online transfer of funds ,then there is no issue like this . you can then open it anywhere .

      2) No you cant . Best to pay online .


      • srinivas

        1. Place of working would be better. In my case, I have a PPF account in my native place, as I am not planning to invest more, I will tell my dad to deposit Rs.500 and it does not need my signature, he will go and deposit.

        2. In case of post office, you cannot update your passbook in any branch. you have to visit the PO where you opened your account.

    • varun,

      transfer of your ppf a/c from one place to another is easy and not hectic, I’ve done this. All you need to do is to go to the branch where you want to transfer and deposit an application with your passbook. that’s all. its a 10 minute work. After 10-15 days you can go and check status of transfer and then collect the updated passbook. I transferred my a/c from Kolkata to my native city (Bhiwani, Haryana) and it took around 20 days.
      .-= Jagbir´s last blog ..QuickTip use exim for normal mail but stop for secure smtp server =-.

      • Jagbir

        Thanks for the information . I have added this info in the article . But I am not sure if what you said is true for

        Any Bank to Any Bank
        Branch of X bank -> another branch of X bank
        Post office to -> any bank and vice versa ?


        • Manish,

          I tried from one branch of post office to other branch of post office. that was easy. The officer in post office said that its quite possible and hassle free also to transfer your a/c from post office to bank or vice versa. though, no real experience for that yet. :)

          one thing, I searched the ICICI bank site but didnt find any link for PPF. Is the bank still offering it?
          .-= Jagbir´s last blog ..QuickTip use exim for normal mail but stop for secure smtp server =-.

          • Jagbir

            Great . So final conclusion is that transferring PPF account from one place to another is possible and hassle free in general .

            Regarding PPF from ICICI , i am getting a feel that its discontinued now . not sure but .


            • srinivas

              I have read PPF account transfer from kolkota to bangalore took almost 6 months. but this must be a rare case. it must be done within one month.

  25. vishal agrawal

    Dear Manish,

    wonderful post….Yes u can transfer money online to ur SBI PPF account from any other branch…I am personallly transferring money from my ICICI bank account to SBI PPF account online and also you can verify ur PPF account balance online….for that just get ur PPF account attached to ur saving account and have internet banking active for ue savings account.
    But I have one doubt….

    Whether online Statement of My PPF account can be attached as a proof with my ITR?

    Plz let me know,


    • Saurav

      Dear VSA,

      Are you sure you are able to transfer funds online from your ICICI bank savings account to your SBI PPF account.
      Necause, i have a ICICI savings bank a/c and a ICICI PPF a/c and they still dont allow online transfer of funds.
      Please reply how you have managed to do accomplish this.


  26. vishal agrawal


    Earlier, u asked who pay for the 1 % commision to PPF agents? Govt. of india pay forthe commision and below is the link to elaborate…

    • Vishal

      Wow , great to know that there are commisions to agents :) for govt . Do you think there is any scope of misselling , now I get why ICICI has PPF account , it might be getting that commission of 1% :)


  27. yogesh

    Hi all,

    There is no complusion of opening a saving account in bank for PPF account.If any one
    compel ask him to give in written or go directly to bank manager.

    Even u can complaint on RBI site..i guess for such compelsion..Manish Correct me if i am wrong?

    Aside to Manish/Hemanth,

    Yes I am NRI and having NRI account in SBI and my PPF is linked with NRI account.
    No body told that u can’t open a PPF account.I paid my 70K through NRI saving account only.
    PPF acoount is opened by me on 8th dec,2009 and i been outside of india from last 4 years.

    Where is it mention NRI can’t open PPF account ?

  28. vishal agrawal


    I dont think there is any scope of misselling as not a single company or individual will invest 70K per annum to get 700 Rs. commision and that to with lock in period of at least 5 years. Also, if at all organisations wants to get benefit of extra corpus lying in there balance sheet then they ahave to get individuals name registered for the each 70K invested which i think is cumbersome and also not at all feasible…
    Plz correct if i am wrong in my perceptions….


  29. Manish

    Hi Manish,
    It seems you are running short of ideas.I find this article totaly useless. Your previous article on why to have ppf account now,even if you dont need was good ,but this one i completely miss the point of it.
    It simply gives a message that can be put in one line and most already know of it.
    “To open a PPF account visit an SBI branch with an ID and address proof.”

    The article even goes on to mention that only one document is needed,I doubt if you can open an PPF acct with just a pan card.Its just an ID proof and NOT address proof.
    Please give some meaningful articles which has some analysis and is really useful.


    • Manish

      You are missing the big picture here. Believe me , you are seeing it from a very different angle . You are just thinking about “What information I am getting out of these 100 lines of text and 1 image (which is nothing but spam again as the information is already there in the text) . I accept that there is nothing much into opening the PPF account at SBI or even Post Office and ” you find this article totally useless” , even I do . But Why do we feel like that , Did you find the reason ? How do you came to know about in your case ?

      Chances are that you either went yourself personally to open an account or you came to know about it by reading it or may be some one told you the procedure . This post is not for us , who already know the procedure or have ppf accounts already done .

      There are millions , really millions of people in India whom if you ask “how a PPF account is opened”, have no clue.Ask them to “guess” and 99% wont be able to tell you . It sounds funny , but thats true . “How to open a PPF account” , try to type this in google search bar and see what it auto completes to ) , it completes to same thing like “how to open a PPF account ” , ” How to open a PPF account in post office” , “How to open a PPF account at SBI online” and similar things . this is what most of the people are searching (atleast people who have access to internet)

      They still think that its a complicated procedure and takes a lot of time to do that . This post is for those who have no clue at all of how simple the procedure is , this post is for House wives like kavita kamat (comment 80) , who consider these small and obvious information as “very good and easy information” who have got the feeling that no one tells them these stuff because they might not “understand” it , Even they know there will be “some form to be filled in” and “some document” to submit . But with that much information how many people are going and taking the action of opening it .

      This post is for those also who have the feeling that the procedure is simple , but are waiting for some one to confirm and finally tell them how simple it is. The post is there to give them a final kick to go and start the procedure because its easy .

      Yes , you are correct that the whole post can be summerized in a small 1 line sentence , but then the post is not just for information , its for interaction also. We at Jagoinvestor as a group do not just want to “Dump Information” in a post . We want to bring together readers and then do some discussions , exchange views .

      A post not just gives information , but also creates different ideas and creates more knowledge out of confusion .

      Only after this Post , following things has happened .

      – One guy came to know that He is not suppose to open a PPF account as he is NRI and now he is planning to cancel it else he will miss out on interest later .
      – We came to know that one can open PPF account in any bank and transfer the amount online from any account in another bank .
      – We also came to know what needs to go for tax proof (many people knew it , but many didnt)
      – We also came to know that the procedure to transfer PPF account from one place to another place is also not cumbersome and time consuming .
      – We came to know that banks have bias ness for FD’s and they lie to customers that you have to open a FD with SBI if you want to open a PPF . One reader is waiting from 2 yrs because of this matter and now he has decided to talk to bank about this and ask some bold questions .
      – We came to know that agents get commisions on some products sold like KVP , PPF etc .

      Manish, not to pull leg , but there are 3 readers who feel the article is “Excellent” and 4 readers who think this is a “good” post and 2 readers feel its a “Wonderful” post . Rest all readers also liked the post , may be they didnt use those good words but . The reason they liked it was they didnt knew the procedure and finally it they are sure about it with lot of comments , discussions and Images .

      Most of the things we need to fill a form with an ID and address proof , which you mentioned needs to be done here too ., We all know about it , the post is there to confirm about this fact that even with opening PPF account, the procedure is as simple and its not complicated .

      I want to make you understand that each one of us has a level of understanding and knowledge about something topic. People like Me , you , Pattu etc are way ahead of many readers on this blog and some topics might be very idiotic and useless for us, but the same topic might be “extremelly useful and informative” for thousands of readers , who know nothing , they are starting from scratch and just telling them “To open a PPF account visit an SBI branch with an ID and address proof.” will never work .

      The fact that your comment is 106th comment on this article (including mine) and 54th (excluding mine) within 48hrs of article coming in gives a good idea of how useful the article was for other readers .

      As you said, I am really short of Ideas these days :) and need suggestions on What new topics I can work on to make it a better place to hang on for every kind of reader .

      I would love to hear your views on my comment and would like to have discussion on different topics .

      Dont take any thing personally please . It’s never .


      • Hemant

        I have listed down close to 80-100 different topics I have to write on :) . Just that I am not able to follow up that and actuallly do it . When ever some thing comes to my mind i put a note of it . So in reality i am not short of ideas 😉 . Just that I am lazy 😉

        @other manish , anyways you can suggest the topics , it would be a nice addition .
        @Other readers , I will put some form for getting the suggestion


  30. pattu

    @ the other Manish,

    When “Jago Manish” asked me for this info, I also taught maybe this wont be a full post. But look at the response! He is right lots (in Indian that mean LOTS!) of people need info. I learnt many things from them and some did find it useful.
    But I guess I am glad you don’t need this article. But then again you need address and ID proof. So in addition to Pan Card you need ration card etc.. Passport could serve as both if one has it.

  31. yogesh

    Hi Other manish,

    Even I was aware of how to open PPF account but in discussion mail chain
    came to know many new things.

    More over I came to know that for which investment NRI are not applicable.I
    was never having any such clue and I guess people working in bank even doesn;t have
    this information as they open my PPF account. :-)

    In this article link provided for PPF calculation is also good one.

    Never mind.Such criticism can further raise this blog standard.


    • Yogesh

      Lets not give it a name of “criticism”. It might look harsh at first glance , but he puts his point and what he thinks about it . We had a great discussion on this topic because of thim only . I think Manish brings up a very important point of discussion here which is difference in understanding and perceiving information in personal finance , there is huge gap between “knowledgable” investors and “starters” across every where, which needs to be filled and every person needs to understand that there is gap even if its too small .


  32. Yogesh

    Hi Manish,

    In below answer whats the difference between Minor&Major child?? ..I didn’t understand.
    Its means for minor child can’t get tax excemption but can get tax excemption for major child.

    Q-10: Is it possible to avail Rs 1 lakh deduction under section 80C though we’re allowed to deposit maximum of Rs 70,000 under PPF rules?
    Ans: Actually under the IT Act, there is no limit and even under PPF rules Rs 70,000 limit is meant for self a/c and minor a/c. It doesn’t include the contribution to the a/c of spouse and major children.

    In other words, as per PPF rules, the total deposit in your own account and in the account of your minor child can’t exceed Rs 70,000 in a FY. But PPF rules doesn’t bar you from making additional deposit beyond the limit of Rs 70,000 in the account of your spouse or your major children and accordingly you can claim Rs 1 lakh tax deduction u/s 80C of IT Act.

      • srinivas

        One PPF account can have maximum of 70,000 deposit f0r a financial year. If you have 2 account in your name and in your child (minor name) you can deposit 1,40,000/- but you cannot claim tax deduction for not more than 70,000/-.

        • pattu

          TWO PPF acc (yours+minors) “you can deposit 1,40,000/”
          I disagree. Can you produce written proof of the same?
          Look at the links in the article in section “Other points to Consider”
          I have other links from the web which state total limit if Rs. 70, 000/-
          PPF rules in PO and SBI passbooks dont contain this information.

          • srinivas

            I am also not sure, But this is how I understood the below statement.

            “(3) An individual can open a Public Provident Fund Account in his own name. He can also open an additional account on behalf of each minor of whom he is the guardian. He can subscribe any amount in multiples of Rs. 5 of not less than Rs. 100 and not more than Rs. 60,000 in a year in each of his account. A year for the purpose of the scheme means a financial year (April 1 to March 31)”. (emphasis supplied)

            The word “in a year in each of his account” made me to think like that.
            No clarity again on PPF rules in Indian postal website.

              • srinivas

                Hi Pattu,
                I found the below statements from these website(s).
                “(24) The ceiling on deposits as provided for by Central Government from time to time, which is Rs.70,000/- in a financial year at present, is both for individual self account and account(s) opened on behalf of minor(s) of whom he is the guardian, taken together.”

                The deposit in a minor account is clubbed with the deposit of the account of the Guardian for the limit of Rs.70,000/-.

                You understanding is correct, Thanks for pointing out.

              • pattu

                If you read the link I mentioned earlier, it refers to your links as not being updated. The addtion to the rules has not be put in. In fact there are many cases in which people have put more then Rs. 70000 in both acc and there has been some issues.

                  • Jagbir , Pattu , Sriniwas

                    Says Harsh Roongta, CEO, “It depends on the bank branch and is not a practice across banks. Some banks that do refuse say that opening an account in the name of the minor is unnecessary because an individual can only invest up to Rs70,000, including that of his minor’s.”

                    So shall we conclude that “A person can not invest more than 70,000 per annum in total including his children contribution” .


                    • pattu

                      Jagbir, Srinivas and Manish, nice sources. thank you. Just last month I opened PPF in my mother name with me as nominee so that I can invest full Rs. 70,000 for my new-born.

                      Not many banks can offer clarity on this issue. Its time they printed this on the passbooks. Good to see SBT has some info on this.

  33. yogesh

    Hi Srinivas,

    If interest rate goes down in PPF in future then that time can put 500rs but as per
    my views in current situtation can still deposit the money.

    How u did Zonal & Branch Manager email id ?
    Is there any site where they have mentioned this information for all SBI Branches?


  34. yogesh

    Hi Srinivas,

    If interest rate goes down in PPF in future then that time can put 500rs but as per
    my views in current situtation can still deposit the money.

    How u find Zonal & Branch Manager email id ?
    Is there any site where they have mentioned this information for all SBI Branches?


  35. yogesh

    Hi all,

    As Imentioned earlier,I had send a mail to to ICICI & SBI bank in order to
    check latest rules on PPF account for NRI and response is same
    as mentioned/replied by Hemant,Srinivas & Manish.

    Below is the response.
    Dear Customer,

    We thank you for writing to us.

    Currently NRI Customers cannot open PPF account.

    For any further queries you can contact us through phone. Our toll free numbers are:

    USA: 1 866 ICICI 4 U
    UK: 0 8081 314151
    Singapore: 800 ICICI 4 U
    Canada:1866 ICICI 4 U
    India: 1800 22 4848

    —–Original Message—–
    Subject: Query on PPF account

    Hi ICICI Bank,

    Need to know whether NRI can open the PPF account or not?

    what is the latest rules & regulations ??

    Plz respond back.Thanks


  36. On a similar note, I get a reply from ICICI bank on how I can transfer my PPF a/c which is with Post Office to ICICI bank.

    here’s the text:

    Dear Mr. Singh,

    You can transfer your PPF account from one authorized bank or Post office to another. In such a case, the PPF account will be considered as a continuing account. To enable to transfer your existing PPF accounts to ICICI Bank, the following process has to be followed.

    a) You need to approach the bank or the Post office where your current PPF account is held and makes an application for transfer of PPF account to ICICI Bank. The application form will be as per the format specified by them.
    b) Once the application is processed, the existing bank/post office will hand over original documents such as a certified copy of the account, the account opening application, nomination form, specimen signature etc to the you along with a cheque/DD for the outstanding balance in the PPF account. The cheque will indicate that it relates to PPF account number.
    c) Once the you receives all the necessary documents, the same may be submitted at the authorized branch of ICICI Bank along with an account opening form.
    d) If all the documents are found to be in order, the account will be opened as per the normal account opening process.

    Following are the list of Authorized ICICI BANK Branches where PPF facility is available.

    Bangalore – M G Road (2)
    Panchkula (43)
    Dehradun (164)
    Vadodara (3)
    Bhopal (55)
    Ranchi (175)
    Mumbai – Nariman Point (4)
    Pondicherry – Mission Street
    Madurai Main (6003)
    Kolkata – R N Mukherjee (Retail) (6)
    Mohali (58)
    Patna (6259)
    New Delhi – Connaught Place (7)
    Nagpur – Civil Lines (59)
    Thiruvananthapuram (Trivandrum) (6262)
    Hyderabad – Khairatabad (8)
    Vishakapatnam (60)
    Kozhikode (Caliicut) (6265)
    Chennai – Nungambakkam (9)
    Bhubaneswar (61)
    Kolkata – Gariahat (6278)
    Ernakulam (Cocihin) (10)
    Palghar (62)
    Lucknow (6281)
    Jaipur (12)
    Boiisar (63)
    Noida – Sector 27 (6284)
    Chandigarh – Sector 9C (13)
    Ahmedabad – Drive-In-Cinema (64)
    Delhi – Mayur Vihar (6297)
    Panaji (15)
    Amritsar (66)
    Cuttack (6342)
    Ludhiana – Feroze Gandhi Market (17)
    Manipal (72)
    Guwahati (6343)
    Pune – Shivajinagar (39)
    Jamshedpur (89)
    Shimla (6353)
    Hyderabad – Madhapur (40)
    Raiipur (161)
    Darjeeling (6354)

    Riazuddin Mohammad – Emails DP – Hyd
    Account Manager
    ICICI Bank limited

  37. varun agrawal

    can we change the address, mentioned in our ppf form ….afterwards?

    means when we transfering ppf account from one branch to another branch, then can the address be changed?…
    and can we see the status of our account in online banking ( in sbi )?…

    as i came to know from sbi branch,that u can see the status of ppf like ur saving bank account only if ur address given in both accounts are same otherwise not?….

    plz guide,,,,


  38. Das

    Hi Manish Chauhan,

    I completely agree with what the other Manish has to say.

    You have already setup a standard here, by writing many excellent articles and that has clearly raised the bar of the kind of material you would offer.

    Also, pan card is an ID proof and not address proof. It will NOT suffice for opening a PPF account. You need both, an ID proof and an address proof, and most SBI branches won’t allow you to open a PPF account unless you hold an account with SBI (with any SBI branch), so that they can verify your signature. The rules say that you don’t have to own an account with them, but in reality it is different.

    Do not think that I (and the other Manish) are discouraging you. We are encouraging you to give us better material, like you always do.

    That said, I’ve been lurking around for many days here, but have never posted a message. I must say that your site is greatly informative and educative in general and I appreciate that very fact.

    Keep writing.

    • Das

      Nice to receive a comment :) . I would agree that I have raised the standard with article quality , but some times we need to have very general articles too like these which might be very basic for some class of people , but very informative for others . Even for people who know “how to open PPF account” got other information because of this same post (see comments) .

      What do you feel ? Thanks for your appreciation :)


    • Biswajit

      You cant do PPF investment in your Wife name . you can only open account for yourself and your minor child . Your wife will have to open a seperate account , even if you pay the money to her and she deposits that money in her PPF account , you cant get the benefit .


        • srinivas

          Yes. From the link pattu has shared. It looks we can claim tax benefit towards the contribution made in spouse/major child name.
          I know in case of NSC, My father had taken NSC in my mother name, but he could submit that as a tax proof for the financial year and it is considered by the finance team. My father was in state govt police service.

          • ok . So I got that point , but the article also mentions

            “It is also possible to invest Rs 1 lakh in PPF for those who wish to do so. Remember, Sec 80C doesn’t impose any sectoral caps on investments. It is PPF rules that limit the investment to a maximum of Rs 70,000 in the PPF accounts of self and minor child. However, tax deduction is also available under PPF for investments in the name of spouse and children. Consequently, one can invest Rs 70,000 in one’s own account and the balance Rs 30,000 in say the spouse’s or major child’s account and thereby avail of the full deduction of Rs 1 lakh through PPF. ” .

            So does that mean we can take benefit of full 1 lac ? I am myself unclear on that , can some one find out please ?


            • pattu

              “we can take benefit of full 1 lac ” Yes this is my understanding. I have seen in more than one article that you can contribute to your wifes ppf. I am going to do this from April 2010. Will let you know if I pull it off.

  39. varun agrawal

    hi manish,

    can we change the address, mentioned in our ppf form ….afterwards?

    means when we transfering ppf account from one branch to another branch, then can the address be changed?…
    and can we see the status of our account in online banking ( in sbi )?…

    as i came to know from sbi branch,that u can see the status of ppf like ur saving bank account only if ur address given in both accounts are same otherwise not?….

    plz guide,,,,


    • Varun

      The way you are doing is wrong , change of address can not be done while transferring the account . the way you can do is , change the adress first , once it gets changed in your SBI bank , then do the transfer . See Below

      Procedure for changing address SBI Saving Account :
      Go to your branch and ask for Change Address form very simple form then give new Address Proof and submit it. Thats it. On passbook you can get it reflected after few days. I had changed to Harayana address she asked for Address Proof then i was having document issued from my company on letter head both Permanent and Temp written on that. It was easy process.

      Credit goes to :


  40. vivek

    Hi manish
    its realy a nice forum and a nice post.i m a regular reader of ur post n like it very much.
    I hv a PPF a/c in SBI since 2004. i also want to share sm information abt it.
    1) Min a/m deposit is 500/- and max a/m can b deposited is 70,000/- per year that is april 1st to march 31st.
    2) Max time u can deposite in a year is 12 times, which can not be exceeded.
    3) U can also take loan. the first loan u can apply is only after 3 yrs of opening of the ppf a/ that case u r eligible for loan of 25% of ur 1st year balance in the a/c which is repayble in convenient monthly installments not exceeding 36 mnths. you can apply for the 2nd loan at the end of 5th year bt no 2nd loan can b taken so long as the 1st loan is not fully repaid and the a/m of 2nd loan will be 25 % of the balance at credit at the end of2nd year immediately precceding the year in which the loan is applied for.
    4) After the completion of 6th yr u can take out 50% of the money frm ur a/c.
    5) After 15 yrs u can take out all ur money.(optional)
    6) In case of death of the a/c holder the money can be given to nominee.
    7) U can transfer the a/c frm one branch to other branch in other state also.
    all u hv to do is give application addressing the branch manager of that branch in the state mentioning the branch name , state and code(MICR) no. of the branch where u intend to transfer and submitt the pass book. the problem of this procedure is it takes around 10-30 days (because of postal service and sm lazy work by bank staff, it is always better to hv phone no of the bank emplyee so that u can remind them if it get delayed) and 2nd problem is u hv to check ur self whether it is transfrred to the required bank or not because its my personal experience that the bank do not inform whethr it is transferred or not.
    8) Yes, and in case u miss to deposite min a/m that is 500/- in a year then dont worry the a/c does not closes, but u will hv to pay fine of Rs. 50/- to regularize it.
    9) If u hv a saving a/c & net banking in that perticular bank then the PPF a/c will automatically be attached to the net banking service, u dont need to apply net banking for the ppf a/c separately.

    • Suhasini

      thanks for the comment , i am sure you are learning too much from the comments itself :) . looking from your contribution . We always have something to learn from everyone :)


  41. venkat

    HI Manish,
    I want to invest 10,000 every year in PPF . Can i do this as a SIP through online. How is the interest calculated.

      • JayaprakashReddy

        Though you dont have SIP facility for PPF, but you can make it provided you have ICICI account and PPF account in SBI branch where NEFT is available.

        I made it SIP way, thanks to ICICI bank standing instruction facility for NEFT transfers. Every month on 3rd, amount will be transferred from ICICI to SBI PPF account, and it will be credited to PPF account on the same day, so that it will be considered for interest for that month. I did it on 3rd because sometimes it may fall on Sunday or national holiday so it will be credited on 4th in PPF account.

  42. venkat

    HI Manish,

    sorry for the back-to-back posts. but this time i want to know how to transfer my PPF account from Post office to a SBI branch.

  43. raju

    Overall a nice and fruitful discussion and all of us gained many things. But having a small query and a suggestion for the forum.
    1. Query is suppose someone has opened a PPF account in a Bank through a Agent and if he NOW links this account Online will the Agent get his usual 1% commission as discussed elsewhere in the blog.
    2. My suggestion is One Must Open PPF Account only through an Agent, as he takes all the Hassles of Filling Forms/Depositing Cheques/Getting the Passbooks Completed/and even gives you an Incentive for ALL THE WORK HE DOES FOR YOU.
    3. Opening directly PPF Account gives all the benefits to the BANK/POST OFFICE and YOU SUFFER because of their callous Sarkari Attitude.
    4. And Good News is Now Your Agent is not permanent as was earlier. As you can always chuck him Out of business, by simply giving a letter to other agent if you desire to change for any reason like – poor services/non-compliance/delayed services/lazy person/indefinite delays/repeated excuses/refusals and your Transfer/relocation to other place AND LAST BUT NOT THE LEAST VAISE HI, kyonki ab voh theek se KAM NAHI KARE. No body is going to ask ANYTHING From You. You just need to identify a NEW AGENT and give him the letter and BE ASSURED till he is working Nicely.

    • Srinivas

      Hi Raju,
      Answer to your query.
      If you deposit via online then agent will not get any commission and it is applicable in post office also if you directly deposit in absence of agent.
      I mean, when you visit post office to deposit the money, you should go with agent then only he will get commission and he can share 50% with you.

      If you go without agent, then no body will receive commission and post office staff itself likely to misuse this opportunity and take agent’s commission.

      • Srinivas

        Ok , I thought the agent will get the commission only while the first payment . So agent will get it everytime . Nice to know this .

        Regarding misuse, I think there will be some way agents commission cant be taken away like some signature, direct payment to his account or something like that .


  44. PA

    I heard that ICICI has facility of Online PPF account?
    Any details on whether they are available even now & also where to find more info & apply for this account with them?

  45. Chaitanya


    How is the year’s 70K limit checked ? Is it considered for a Financial Year: Apr-Mar or a Calendar Year: Jan-Dec?

    I’ve opened an account in Febraury, So if I deposit 70K in feb, then will I be able to deposit further later in the year (say Nov) or will be allowed to do so in the next year only?

    • Chaitanya

      Its from Apr-Mar , its very simple logic as its a tax saving instrument and tax is calculated from Apr-Mar :)

      So you can invest max 70k or 12 times in a financial year .


      • PA

        Yea,I have contacted them.
        Also ,this is the first time that I will be paying Income tax but im not able to find the informations like the last date to pay income tax,whether i must add proofs of income while submitting tax, what does income tax return filing mean etc.,Would you be able to throw some light on these?
        One more thing is how to file tax for the income from Adsense(Im earning full time from adsense)

  46. Asish

    Really nice and easily detailed;

    At it is said:

    The subscriptions, which shall be in multiples of Rs. 5, may, for any year, be paid into the account in one lump sum or in instalments not exceeding twelve in a year.

    My question is can I submit twice in one month? The banker said yes not sure if he gave the correct answer.

    • Ashish

      You can invest any number of times in a month , just that total in a year has to be 12 . Thats what we can deduce from rules .

      No where they have mentioned that it cant me more than once in a month . I think they have put 12 in year considering that anyone will probably invest 1 time per month


  47. Kousik De

    Could you pls inform how to change PPF account from a specific BANK (say Bank of India) of one place to another Bank (say SBI) in an another city?
    Normally how long this process (changeover) takes?
    Thanks in advance.

    • Kausik

      Its mentioned in the article itself .

      * Go to the branch where you want to transfer your PPF account and deposit an application with your PPF passbook
      * takes 10-15 minutes


  48. Asish

    @Manish: one more query in addition to my previous query..

    I learnt that as per RBI regulations interest on savings account (~3.5%) will be calculated on a daily basis and paid on a half yearly basis. Can’t understand whats the big change?

    • Asish

      Yes . thats true , the interest might be calculated on per day basis , but dont get attracted to this so soon untill you do the maths yourself , the quantum of benefit is not that big at all to party :)

      Considering 3.5% return , if we get return on montly basis (current rule between 11th and last day) the return would actually be just 3.55%

      >>> 100* ((1+(.035/12.0))**12 -1)

      If we compound it daily , the return would increase with a very small amount . just .01%

      >>> 100* ((1+(.035/365.0))**365 -1)

      So , this is nothing to cheer about .


      • Elaya Kumar S

        I want to add clarification on two points:

        1) Why Banks are not interested in opening/encouraging PPF Accounts. Inititally only SBI was authorised to maintain PPF accounts. Later the authority was extended to all other nationalised banks also. I do not know whether private sector banks are given the authority. The main discouragement for the banks is that they are given (i recall from my memory that the Government is reimbursing o.05% for maintaining the PPF accounts on behalf of Government and also the fact that it is additional work load for them. So no other nationalised bank evinced any interest in soliciting or marketing PPF accounts. You could have very well observed that there will be no separate counter for PPF accounts but the same will be tagged with the Government work counter in SBI. If staff absence is there, the first casualty would be truncation of PPF work. And the poor PPF customer would be asked to come afterwards.

        2) Regarding interest on Savings Bank on daily product basis:

        Present procedure: Interest is calculated on the MINIMUM monthly balance between 10th and last working day of the month on monthly products basis.
        For example, you are having balances of 8000/- on 1st, 10000/- on 9th, 5000/- on 12th, 25000/- on 18th and 1000/- on 31st, the monthly balance would be taken as 1000/- only.

        But if the same is taken on daily product basis from 1st of every month, the daily balances outstanding would be taken up and interest would be calculated on daily basis. Even in the above example, if the interest is calculated on daily basis, it would be as follows:
        1-8: 8000 * 8 = 64000
        9-11: 10000 * 3 = 30000
        12-17: 5000 * 6 = 30000
        18-30: 25000 * 13 = 325000
        31: 1000 * 1 = 1000
        Total = 449000 for 31 days
        So in the earlier case (on minimum monthly balance at Rs.1000/ p.m. i.e. 31000 for 31 days it is now 449000 for 31 days.

        So there would be a substantial benefit for the funds in Savings Account.

      • Anand

        Manish – I was reading this article on PPF and stumbled upon the savings interest rate in banks. In the old era the ‘least balance’ in the account between 10th and 30th of the month will be used for calculating interest. Now it is on full amount every day. It makes a lot of difference.

        Say, a person takes home INR 50,000 credited on Jun 30, 2011. He/She will pay EMIs, All Bills and Fees and set apart something for investments and savings and possibly left with INR 10,000 by 26th of the month. The interest WAS paid ONLY on this amount – 10,000. Now the person will be paid 4% (ofcourse, 3.5% when this post was first written) on a ‘daily’ basis so every rupee earns throughtout the month.

        The very basis for using the 10th to 30th cycle in the past was that most expenses will be incurred between 1st and 10th of the month and the interest outgo will be lower for the bank ;-). RBI found Banks are having free access to money and said: “Pay the customers!”

  49. Elaya Kumar S

    Dear Mr Manish,
    I had a PPF account with SBI and also my son’s account with Post Office. For one thing, SBI in most of the places is handling vast amount of Government transactions and incidentally the same counter is handling the PPF work also. So, it takes a lot of time with SBI, whereas in the Post Office the normal Savings Bank counter is handling the PPF leading to quick service. I do not know about the other places.

      • Elaya Kumar S

        You will not believe it. For the past two days I was trying to make remittance in SBI (I want to make it before 5th). But there is a long queue in the only Government Counter which handles the PPF work. Or else I have to make it in the last week of the month since at that time the Government counter in SBI does not have large volume of work. Comparatively it is easy in the Post Office.

  50. Iesh

    I have opened PPF account in post-office bef 8 yrs. since last 5yrs i lost my passbook and i m not depositing money. I do not have account detail. Now i want to reactivate it. How can i retrive it ? How can i get duplicate passbook ?

    • Iesh

      Hello Mr. Manish

      please guide me how to retrive/get duplicate passbook without any information i.e account detail available with me. (passbook lost).

      • Srinivas

        Visit the post office where you opened your PPF account and give a written application for issuing duplicate passbook with fine of Rs.1, they will issue the duplicate.

        To reactivate, you have to pay Rs.50 for every non-paid year alongwith arrear subscription of Rs. 500 for each year.

  51. Ashish

    Hi Manish,

    It was excellent reading about PPF. and since i am trying to convince my family about PPF investment they are all negative on it.
    Can you let me know where i can download the legal document saying there is no tax on interest gained on PPF .
    So that i can be on the lead to say i am RIGHT. :)

  52. Sreenivasan Iyer

    I visited state bank of indore in my town to open an PPf a/c but the manager insisted me that ihave to open an savings a/c along with ppf. so iwant to know wether ppf a/c has to be opened along with savings a/c and is it compulsory to open savings a/c?

    • Sreenivasan

      No , its not compulsory to open a saving account at all . the officers at bank generally want you to open “something else” along with PPF so that you give them some business personally , I would say demand an official explaination on why its needed . you can anyways open a saving account and then close it later . How will it help him ?


  53. Ketan

    Hi Manish,

    Personal finance is a subject of my interest and very glad to see you educating the investors which is very much required.

    Regarding PPF account, I went to Pulgate branch of SBI in Pune to open my daughter’s account and was told, “We don’t open minor’s account”. When I verifed with one SBI employee he said that’s not true. What I know is, one requires PAN to open an account but it’s unbelievable that minor’s can’t open account at all. Could anyone please confirm?

    Please continue the good work. Best wishes for you always.

    Ketan Shah

    • Ketan

      thats not true , one can open a PPF account on minor’s name , Ask the bank why they are not opening and what are the rules , meet the bank manager and threaten him to take the matter to higher authorities .


      • Elaya Kumar S

        One can have a PPF account in his name and in addition to that can have a PPF account in his minor child’s name, but the total contribution to both the accounts would get exemption u/s 80C only upto an extent of 70.000/- p.a.

  54. Pranav Dholakiya

    Dear Friends,
    we can do online transfer from savinf A/c to PPF A/c. BUT……..
    May i know that if we want to withdraw money from PPF A/c after 4 years to our saving A/c by Net banking of SBI, is it possible?
    i mean is that facility available? or we must have to go to offices?
    pls reply me as i am in hurry…

      • Pranav Dholakiya

        Now what i man to say is, Its easy to get investment & as well as tax benefit by PPF formula. But at the time of withdraral they just badly harass people. as per my knowledge there must be self withdrawal facility, because as per my knowledge it’s government skim, & we all know how all govt system works!!!!

  55. Karsudha

    I wrote to ICICI to confirm if I can transfer money online form ICICI to SBI or post office PPF. They replied saying it is nto possible and they recommend opening a RD with them :-)

    My Query to ICICI:
    I would like to check how can I transfer money from my ICICI account to PPF account in following case.
    1. If PPF account is with Post office
    2. If PPF account is with SBI bank
    Thanks in advance.

    ICICI response:
    Kindly note that you can transfer the funds only to the savings account through internet banking. Hence, you would be unable to transfer the funds to PPF account.

    Would you feel glad to save money for your Near and Dear ones on a monthly basis?
    * Account linked Recurring Deposit
    * TDS is not applicable
    * Best monthly investment plan with minimum amount as low as Rs 500
    * 0.5% additional interest for Senior Citizen
    Looking forward for your revert with your Mobile number. We will revert to you within 48 hrs.

  56. Anand

    How I wish the daily balance rule which came into effect for savings bank account also comes for PPF ?

    What is this minimum from 5th to end of month funda?

      • Anand

        If somebody puts money in PPF account on 6th of the month, then this contribution will be calculated only for the next month onwards; and not for this month.

        So the money put will earn no interest for nearly a month. How is this related to max number of payments?

        The govt should have daily interest for PPF account too.

  57. Venkat

    Excellent discussion about PPF which I just came across. I have however tried many calculators on web but found them wanting on one criteria or other. So I have tried to create one which considers most scenarios. I am glad if anyone finds it useful.

  58. Ramesh

    I had opened a ppf account in state bank of india kodambakkam branch chennai. Since it was completely handled by my agent i didn’t have any records about that account. Now last 6 years i have not done any transaction in that account. Prior to that i was depositing money every year. Now when I visited the branch they are not able to track my account number with out any reference and ofcourse the attitude of the people is not to help me. As usual typical governement employee attitude. Can some one help me to how to find my details.

    • If u have the passbook and the account number with you , there is no reason they “cant find the details” , Write to RBI ombudsman on this as a complain if they cant/dont help you .


  59. sanjay upadhyay

    Please let me know the following: I am setting up my SBI PPF account in hdfc third party transfer. Could someone let me know the “account type” in drop down box ? What should be the account type choosen ? It needs a correct PPF account type.

  60. Nayak

    Dear All,

    After Getting inspired from jaginvestor , FINALLY I opened a PPF account today through SBI (thanks to Manish specially for such efforts).

    For the bangalore people who find it difficult to open a PPF account or the SBI staff are not co-operative ,
    My experience was really nice today , I went to SBI , Richards Town,Mosque Road (near Banaswadi,MG road) , the lady named ‘Kalawti’ was really nice to me & I finally opened the PPF account within 15 minutes.

    (you can visit this branch if your exp at other branch was bitter)

    The process followed for me:

    1) Fill up PPF account form
    2) Fill up Nomination Form ( you need 2 wittness signature here , so better to take some one with you or you can just ask the person whether you can make the sign or not… which I did & SBI kindly allowed … :) )
    3) Your Photo ID proof (self attested)
    4) Your address proof (in case photo id proof dont have address proof)
    (N.B:- software people you can submitt company letter too…I DiD it)
    5) 2 photo(PP) 1 for application & 1 for passbook
    6) Fill Chalan with the initial amount to be deposited
    7) Update your passbook before you leave the branch

    Thats All………..

  61. Sachin Kumar

    Hi Everyone,

    I want to know that do we need to submit some amount at the time of opening a PPF account. or it is upon us that in whole year whenever we want to submit we can? If so, how much is the min. amount we can submit at the time of opening the PPF account?

  62. Rajesh Kumar

    Thanks for this article. One query, Is it required that one should have SBI saving account to open a PPF account?

  63. senthil

    dear manish , is it still advisable to open a PPF account when the present govt is planning to remove tax exemption for the amount which investors get finally?
    kindly reply…

  64. raj

    hey manish
    what is your opinion on one opening this PPF account now since in new Tax Code picture is not clear on its tax exemption(EEE). Should one still have one?

  65. Anindya

    First of all gr8 work Manish..i am a newbie to the site and liked it a lot..
    Just to add to the points above i had a strange experience ..
    I went to SBI (a kolkata branch)to open my account ..everybody seemed too friendly and willing to open it immediately.. i read ur post before going there so had a strange feeling why they are so co operative..
    I could not open it immediately because I wanted to make my mother Nominee and they asked for proofs for the same(This i was not aware of..not mentioned in original post..may be present somewhere in comments).
    The Old Lady sitting in the counter told me to fill it up and come first hour on case i require any help i can contact her daughter(This was funny :) and exciting too)
    I came back home with the forms started filling them and could find the reason behind their over-enthusiasm.Every page of that form was stamped with her daughter’s name and Broking Number, without my consent.what a business sitting in counter and every form submitted to that branch fetches her daughter 1% without any effort..
    I believe that 1% is not cut from my payments..i wont submit the form till i can negotiate and get 0.5% from her :)..
    But i made a mistake :) i did not take her daughter’s cell no :)need to take it on moday..

  66. Binaya Kumar Nanda

    I rushed in to XXXX branch of SBI for opening of a PPF account. To my astonishment the authorised person redirected me to a local agent instead of providing me a format or information.

    The local agent in reply told “sir you cannot open a PPF account without my name here……. I am maintaining more than 500 accounts under my credit.

    I could not understand the procedure…….. Is the local agent right…..and; whether the investor does not have priviledge to open a PPF directly with the bank ?

    • Binaya

      Its a wrong thing, the agent gets a commission when you open a PPF account through him (govt pays him , not from your pocket). You should demand explaination from the manager there or talk to higher authorities .


    • Raj

      Its illegal to share the commission , and why do you want to get that kind of agent who can not have confidence to charge his commission without sharing , if you dilute his commission , you are bound to get diluted advice . Any genuine/authentic planner/advisor will not entertain you if you talk to him for sharing his commissions , only agents who want to catch clients no matter what it takes share commissions .

      And at last its illegal as per SEBI rules , so please dont get into this , else you might get in trouble later .


  67. Deepak

    I am operating PPF account for self and wife since 5 years. Now I want to open new account for my child.

    If I open the account for the child as a minor account, can I deposit 70000 separately to the minor account and my own account ?

  68. Dharmendra Chauhan

    My account is in SBBJ which i opened 6 years back. This account is STUDENT ACCOUNT.Can anybody wil please let me know if I can open PPF account in the same account’s Bank?
    Thanks & Regards,

  69. Ranjit Kr Pradhan

    I have PPF account in Post Office. I can not operate the account monthly as I stay in outstation for service purpose. I want to know whether my account can be transfered from post office to SBI to operate the account conviniently ( as availability of core banking facility in SBI); and if so, how ? please giev me a suggestion.

  70. MUKESH

    I want to know about PPF account. as if I opened account on 8oct2010 ,then the next year eligible for investment will be next financial year, or 7 oct 2011 for depositing 70,000 which is max limit in year.
    2nd if I open account on 8 oct2010 and deposited 70,000 ,and 70,000 in next year fr on eg.8 oct2011 ,then locking period applicable from date of opening account as from 8 oct2010 or from invested money every year
    3rd which is best option post office or bank to open ppf account

  71. MUKESH

    first thanks for reply for prev. one more query about PPF .pl clerify about locking suppose if iinvest in 2010 70,000 rs .Maturity should be after 15 year from 2010 if further invest 70,0000 in next year 2011 in same account then the maturity will count from 2010 from dtae of oprenning of account or 2011 from date of investment.
    also want to know what interset will be if deposite 70,000 in every year ,have a doubt that interset not paid if sum exceed 70,0000 . what if amount is 70,000 in one year and 70,000 in next year and so on.

    • Mukesh

      The maturity of PPF is based on the date of opening, so if you invest 70k in first year and 70k in second year , the total will mature after 15 yrs :)

      Each year you will get interest on whole PPF money , but in a year you cant invest more than 70k


  72. steve markson

    Excellent Post regarding opening of PPF account in SBI account It will be useful for all.Keep psoting this kind of stuff .

  73. yachna

    i am the PPF acount holder at SBI chandigarh and have S.B. Account in SBI Allahabad. I have to deposit the money into my PPF account. Is it possible that the branch concerned at allahabad on request directly transfer the money into my PPF account. please suggest.

    • Yachna

      Thats tough I suppose , you either have to manually deposit it from your PPF account branch or should have internet banking enabled and have setup your PPF account to accept online transfer


  74. Sudheer


    To open a SBI Account do I have to know any person in the same branch, to make introduction signature ?

    Thank You & Regards,

  75. Sudheer


    One clarification regading PPF…I want to contribute to it once in ayear instead of contributing every month. So if I contribute 5000/- on March 4th so for that FY do they calculate at 8% or at 8%/12 ?

    Thank You & Regards,

  76. Ripdaman

    thank you very much Jayaprakash for the valuable info. I will again try to transfer funds keeping in the mind the information you shared and let you know about the result.

  77. Sayani Mitra

    Hi All,
    I opened a SBI PPF account in Chandigarh (where I have local address Proof as my parents stay there.)I made online money tranfers from my HDFC bank account to the SBI PPF account.The money got transferred to my PPF account.I am working in Gurgaon.
    If i visit any SBI Bank in Gurgaon can i get the statement of my PPF account /Passbook updation or I need to visit the Chandigarh branch only.
    I wanted to request for online netbanking on my PPF account. For the same as well,can i do it from any SBI branch or i need to visit the Chandigarh branch itself.
    Please reply.

  78. Rathna

    once i went to SBI for opening a PPF account in Delhi. They demanded me to open a Savings account to open a PPF account however you said savings account is not required? what is this confusion?

  79. bhushan

    Very good information, thanks for guidance.

    I have one question, may i open more than one PPF accounts in different branches? Or else if I have one in SBI, then may I open other fresh account in Post Office?

  80. Ivy

    I have an SBI PPF account and i am transferring money online .Some how i missed to take the e-receipt of one of my online transfer which is generated instantly during the transfer.Is it possible to get the e-receipt of the transfers later from SBI site.If anybody have any idea please reply as i need the receipts + passbook entry for my tax proof submission.

    Thanks in advance

    • pattu


      In online acc. goto enquiries, and find transactions. Print the list of transactions, got to your branch and get it authorized by the manager. This should be good enough for tax proof.

      A passbook entry is actually more authentic than an e-receipt. The accountants in your office need to grow up!

      • Uday Pai

        Hi Manish,

        Your blog is really a blessing for people like me (I am the “I know that I don’t know’ types and slowly trying to graduate to “I know that I know” type).
        All your articles are very well articulated and in a very simple, easy to understand language.
        Thanks a lot. You are doing a wonderful job.

        Recently I got my PPF account opened in SBI (Chembur, Mumbai branch).
        I was told that now it has become mandatory to have a savings account in order to open a PPF account.
        So I had to open a savings account prior to opening the PPF account. The entire exercise less than an hour.
        I would like to add that I was surprised with the behaviour and attitude of the SBI staff. And it was a pleasant one.
        Contrary to the belief, I found the staff to be very helpful and co-operative.

        • Uday

          I would say that if you be cooperative with some one , they will be obviously very co-operative, had you tried telling them that you are not opening the SBI account as its not mandatory and show me the rule and blah blah .. It might be that the story would have been different


  81. srihari

    Hi Manish,
    My wife has a PPF account. Is it possible to (third party) transfer amount from my SBI savings account to my wife’s PPF account?

    Currently Iam doing third party transfer from my SBI account to my PPF account.

  82. Gaurav


    I want to know whether PNB offers similar facility of online linking and deposit with PPF account as SBI does. I have a savings bank account in PNB but not in SBI and now when i want to open a PPF, i am looking for online facility to deposit from wherever i am posted.

    I have been trying to confirm this from PNB officials but they are ignorant of it.

    Can anyone either confirm or deny about this facility of Internet Banking of PNB??


    • pattu

      Open the PPF acc at SBI and see if you can add the ppf acc as a NEFT payee from your PNB online acc. If yes then you could transfer money.

      I transfer money to my moms ppf acc from my sbi acc. as a third party acc. So my guess NEFT should be possible.

      Give it a try. If you know a fried who has a PPF you could see if his acc could be added as a trial.

  83. shankar

    I am already an account from sbi i will create RD &PPF for my same account number pls convey msg for me……………

  84. Dinesh

    Hi Manish,

    Your story is clear and the comment discussion has made more facts clear.

    I want to invest rs 24000 in ppf every year. Can you please tell me, is it sensible to open a ppf account and invest in the month of feb – mar 2011 or wait till apr 2011.
    – If i invest in feb – mar 2011, my 15 years tenure gets reduced by 1 year because the financial year is going to be over soon. My ppf will get over by 2025
    – If i invest in apr 2011, my money will earn interest for the whole financial year of apr 11 – mar 12. But my ppf will get over only by 2026.

    Also can you confirm, when ppf gets over in 15 years, does it mean the month of March of the 15th year?

    Best regards,

  85. Hema

    I want to open a PPF account. But i dont have any saving account in any of sbi branch.
    So do i need to have a sbi saving account compulsory for creatinga ppf account?

    • Hema

      Is not mandatory , but some SBI branches insist you for that and tell you that its compulsory ,. see the comments section in detail , there is already a lot of knowledge there on this topic


      • Jayaprakash Kanreddy


        I’ve opened my PPF account 5 months back and that time they didn’t insist for SBI savings account but now I’ve visited same branch for my friend and they are insisting it now. When I told them about my account they said this rule has come up since last couple of months. This is same with another branch I tried. I dont know whether they can force us to open savings account for opening PPF or not? Is there any place where we can complain or find out whether this is official rule or just the branch employees or forcing unofficially?

  86. pallavita

    hello, today I went to a SBI branch near to my place to open a PPF Account. I had a savings account in that bank but they told me that I couldn’t open PPF account because I am not a service holder. So I just want to know that is it true that only service holder can open this type of account. I do job in a private company but I want to open a PPF account. Can u help me in this matter. Can I open a online PPF account ? how?

  87. Harikrishnan

    Recently i have opened a PPF Account in SBI. Apart from the stuffs that is mentioned here to open the PPF Account, I encountered another one.
    They need two Witness signatures and a nominee name in order to open a PPF account. Though I had an SBI Savings account in some other branch.
    The Thumb rule is,
    You can have witnesses as your father and mother, provided you should not use the nominee as a witness
    so, if you wish to use Father and mother as witnesses you need to use other person for nominee

    So while opening a PPF account make sure you have this detail too.
    Thanks for jagoinvestor for making me understand about PPF and to open the same

  88. shekhar

    Manish, can u please calucalate the interest earned at the end of an ear by two methods, i.e if i invest lumpsum 36,000 on 5th april and 3000 per month from the same day of an ear for 12 months

  89. shekhar

    Ha Manish, please clear my two doubts. 1. I understand a person cannot have two PPF accounts on his name in two different branches of SBI, am i right. 2. Can a person have two seperate PPF account in SBI and post office on his name.

      • shekhar

        Ha Manish, thanks for the jet fast reply, also i feel it would be helpfull if you add the point of ur reply directly in ur article.

      • sanjay

        at any time if it is found that you have second PPF ac. ur second account will be discontinued and ur principle amount will be refunded…. NOT INTEREST

      • sanjay

        if any time it is found that u have two PPF accounts. your second account will be closed and you will be refunded only principal amount. no interst will be paid to u

  90. shekhar

    Manish, In case of death of the account holder, can his nominee continue the account, if he cannont, then when would the nominee recieve tne entire money.

    • Neelesh Singh

      He can continue but a nominee her/him self cannot nominate,hence s/he should withdraw as soon as it is possible after the mishap.


  91. $andip Dhulkotiya

    How to withdraw desired amount from PPF Acc.???????
    After open an account when can I withdraw money, Is that any restriiction for that????? Just like after open an acc only after 1,2 or 3 years back you can withdraw the money….??
    How many times in a year I can withdraw money….????
    Can any one help me…!!!

  92. Abhay

    Thanks Manish,
    it is the perfect information for which i was wondering for last few days.
    Now I am ready to open a PPF account this week.
    Please keep guiding …!!!


  93. MEHUL

    Dear Manish ,

    What is formalties for PPF agent? I Wants agency of PPF a/c.

    What is pvt. bank provide PPF A/c services?


  94. Himanshu

    Hi,Myself previously worked in Bhilai Steel Plant,Bhilai. But i joined in Praivate sector.can i transferred my PPF amount.If yes then what is the process.

  95. Ravi Bhargava

    My son is 30yerars old unfortynately is patially mentally retarded I want to open a PPF account jointly in self & his name PAN card, Voter ID cards are there in his name. can Joint PPF account be opened in this case

  96. Amit

    I have a Savings account in New Delhi branch with online banking facility and PPF account in AGRA branch without any intrenet banking facility. I want to link both the accounts to view online with one user id n password. I have visited both the branches with different versions from them – 1.) New Delhi branch – PPF acc needs 2 be transferred n I will lose interest for that period.Still no guarantee that both accounts can be linked as they have different CIFs…-2.) AGRA Branch- both the accounts cant be linked in their present form as both have different cust IDs but u can have a seperate viewing only password for PPF account after providing an application.

  97. Rajwinder

    Dear Sir,

    I am having two savings account in your prestige Bank. The one which is Savings account(let it be A/c-A) and the other is Salary Account(Let it be A/c-B).
    I got successfully transferred my B-account from Sahnewal Branch to Model town Branch in which, I was already having a A-Account.

    My Fixed Deposit Accounts and PPF Account are linked to A-account, and now i Want to Close my A-Account, as i want only one saving account to be continued and would like to Link all the F.D. accounts and PPF account with the B-Account.

    What should I do?. Kindly guide me the best way.

  98. GSR


    For example if X opened the account and he/she nominated Y. If X dies after 5 years then when and how much money does Y receives ?



    My son made a partial withdrawal from PPF a/c. with SBH. He did not have any savings a/c. there, so bank’s payorder had to be taken for the amount. But the Bank charged Rs. 830/- for issuing the payorder. I think for govt. business a/c. like PPF, the Bank’s are supposed to issue the pay order free of bank charges.
    What does the PPF rule say in this regard? To which authority should this question be referred for a conclusive authoritative reply.

    • Premji

      I came across an exmaple where bank cut 25,000 as payorder fee . You should ask Bank for the explanation and show you the rules for it . Then complain to banking ombudsman about this .


    • GSR

      Only constraint is you can make 12 deposits, it’s upto you whether to deposit half early, yearly or monthly.

  100. Samarth Joel Ram

    Hi Manish,

    thanks a ton to you and other contributor to this blog, courtesy to you sir i opened my PPF account. and looking forward for it for my tax saving.

    I have one query, which might sound repetitive. But i did not understand the funda about payment be made b/w 1st and 5th to make good return.

    Since PPF is compounded annually, i should not be concern about the dates, since the compounded interested will be taken in regards only in year end. For Example, suppose i only paid Rs 10000 on 27th May 2010. So at the end of year (31 March 2011), the compounded interest will be calculated on my Rs. 10000, and not on minimum amount between 5th and 31th.
    Please clear my this doubt.

    Also, depending on above question, i want to know which is the better way to invest
    1. (between 1st to 5th) monthly payment throughout the year.
    2. yearly one time payment. (also please tell the date, if it important)

    Thanks in advance
    Samarth Joel Ram

    • Anand

      Interest is calculated monthly, but added to the balance only at the end of financial year.
      So balance at end of month matters.

      better way is to invest on 1st of every month. (at least before 5th).

      best way is to invest 70,000/- before 5th april.

      Hope that helps.

      • Samarth Joel Ram

        Thanks Anand for your reply

        you mean to say that every month, Simple interest is calculated considering the minimum amount in a current month ( b/w 5th to 31th) and at end of the year the interest is added to Principle invested throughout the year, so to avail compounded interest. Please correct me if I understood wrong.


  101. Neelesh Singh


    If I have opened PPF a/c in FY 2011-2012 with certain amount.Then do I have to deposit further minimal amount (Rs 500) to keep my account active or initial acount opening amount will do the same?

    Neelesh Singh

  102. Prasoon

    Just sharing my experience –

    I already had an account in SBI, New Delhi. I went to SBI, Hyderabad for opening a PPF account. They asked for existing SBI account number, which I provided. Also, I submitted PAN card and Bank statement copy as proof documents. It took some 15-20 minutes to get a PPF passbook.

    Now a pleasant surprise –

    When I came back home and logged with my saving account user ID, I was able to see my PPF account under account section. I was able to see transaction I have done till then.

    Also, there is no need to add PPF account as Third Party in this case. As the PPF account appears as separate account, I can transfer amount using fund transfer (not third party transfer). Good thing is that, this transaction is real-time and the PPF account gets updated at the same time. Also, I am able to download statements, just like with normal account.

    Great, isn’t it :-)?


    Interest on PPF a/c.s: mstakes in calculation
    I cross checked the amount of interest of past some years in my PPF a/c. and found mistakes. On my pointing out the bank credited the shortfall. So cross check to be on safer side. :)


    Banker’s cheque or Pay order charges in PPF a/c.:

    Anybody knows definite answer to this – if there is a govt. rule that banks are not supposed to charge Banker’s charges for issuing Pay Orders in PPF a/cs.????

    Last time the bank charged about Rs. 700/- when my son made a partial withdrawal from his PPF a/c. He did not have a savings a/c. with them.
    I am under the impression that for PPF a/cs. the banks are not supposed to charge as above,.I tried to find out but could not find specific rule saying that banks are not to charge the Banker’s or Pay Order charges.
    Incidentally PPF is a Govt. Business activity and not attractive to banks as it is very low revenue earning compared to the lot of work involved of submitting reports, separate stationery, separate records etc. But PPF has a strong public service angle and Govt. has made it compulsory for the banks to open and service PPF a/c.s. In this scenario some branches of some banks dissuade new account applications and do not give good service. Therefore it is advisable to open a savings a/c., even if it on nominal basis alongwith PPF a/c. Otherswise when bigger withdrawals are made, a big sum will be deducted as Bankers charges for issuing Pay Order.


    can i open second ppf account again after closing first ppf account after completion of 15 years

    • Milind

      Yes . but why do you want to do that ? Just extend the first one , that way the locking period would be just 5 yrs , If you open a new one , it would be 15 yrs again !


  106. Manoj Maharana

    I went to chatrapur SBI bank (branch code 55) yesterday for opening a ppf account. They told me to open a saving account first and then write a reason for opening a ppf account. Sir is it mandatory.
    please reply

    • Manoj

      As per my knowledge it was not mandatory , but there is some confusion on this lately and I am not fully sure if this is compulsory now or not , But its better if you have an account with them , its easy to withdraw the money later .


  107. Samarth

    Please help me.
    By mistake I deposit money in my PPF account today on 30th June, inspite of the thumb rule of submitting between 1st to 5th of the months.
    Please suggest what harm it will do in profit calculation, and how it can be averse.

    I am planning to deposit 70,000 in PPF account this year.

    Thanks in Advance

    • Anand

      Not to worry much. The amount deposited on 30 June will not be considered for June interest, but definitely considered for July interest onwards.


  108. GSR

    Hi Samarth,

    As you said, if you have deposited money from 1st to 5th of any month then they will calculate interest from that month onwards. Otherwise you won’t get any itnerest for that month. So, now you don’t get any itnerest for the month of June.

    Now they will calculate interest rate for the months from 2011-July-01 to 2012-Mar-31. You can’t get interest for the past months.

    The other rule is you can make 12 Installments only in a FY I guess.

    Thank You & Regards,

    • Samarth

      Hi GSR,

      I opened my PPF on 20May with 1000Rs. as Balance. and on 3rd June i submitted another 1000Rs. and now on 30th June i submitted 5000.

      So you mean on my 7000(1000+1000+5000) there would be no interest. And inorder to avail interest ASAP i need to submit sum amount by 1st to 5th July otherwise July month will also not taken into consideration. Please correct me if my understanding is wrong.

      Also in order to avail interest on remaining amount 63000(70000-7000) i need to submit that amount in between 1st and 5th of any month/months.

      Thanks In advance.

  109. Samarth

    what about the money i deposit in 30th June?? is the interest will be taken in regards on 5th July???
    Is I need to do any deposit before 5th July?

  110. Samarth

    ya its a small amount but actually I don’t want to give the real figure in such online stuff 😉 though the dates are correct.

    But moreover, I want to know about this calculation, which might again happen in future. If anyone know any Government rule book about PPF. Please give reference.


  111. GSR


    I always make mistake while transferring money to PPF account. At the start of every month by mistake I always transfer 116 or 220 like this. But, when I check my PPF account online then I realize that it has to be multiples of 100s only.

    Thank You & Regards,


    Dear Manish
    sorry for the long gap.
    i did ask the bank about the payorder charges for partial withdrawal from PPF and they said that is the bank charges for issuing a pay order and since i did not have a account where it could be credited directly, and want a payorder the charges are payable.
    I remember reading somewhere that bank’s are supposed to issue payorder free of charges but that rule is not available in writing anywhere. If i get it in writing from some appropriate authority, probably i can get refund and also so many others will benefit with this info. I tried to find the rules over the internet but could not get it. Should i write to Direcotorate of Small Savings? Thanks a lot for your reply but going to Banking ombudsman without the above rule in writing would be futile.

    • Premji

      You can ask this question to bank itself ,they are suppose to give you right answer , if not , you can then go to ombudsman for unsatisfactory reply from the bank


  113. sandeep Bhatia

    I have a PPF Account in Punjab National Bank. I just want that know that PNB provides the online transfer facility or not. and, If they provide this facitlity then, can we online transfer money by other bank account in PPF or Not.

    Thanks & regards
    Sandeep Bhatia

    • GSR

      Go to any nearest SBI bank.

      Ask for New Account opening form. They will give it to you at free of cost.

      Read it carefully for the proofs that the bank accepts for Identification and and Address proof. Some times you need to have a introductory sign from a person who is having the account in the same branch(Some people accepts event if you don’t have any such). Minimum amount equals to 1000. I have taken introductory sign from a Person whose account is maintained with some other branch in the same city

      For Identification I have submitted PAN Card and for address proof I have submitted the Credit Card statement. Make sure to carry all the originals along with you. Carry 6 to 10 Passport photographs.

      Never go on Saturday’s to open a bank account, because once I went and they told it can be done on week days only.

      All The Best and Regards,

  114. shashi

    bhu ki SBI ki IT branch me mera account hai magar PPF keliye main branch se baat karne per pata chala ki main branch me mera account hoga tabhi mujhe PPF ka form milega,mujhe samajh nahi aa raha hai ki jab sister branch me mera account hai main me kyon naya account kholna padega, us account meri salary usme aa jati hai to PPF account kholne ke liye main branch me naya account kyon kholna padega, unhe to sirf money se matlab hona chahiye

  115. Jerry

    i hv an ppf a/c in sbi from 1997 along with a minor a/c …n by mistake i am depositing in both the a/c which agregates above the limit…for eg, now the limit is 70,000/- and i am depositing 70000 in my ppf n 70000 in my daughters ppf…i was somehw not aware of the fact…i want to transfer my daughter’s a/c in her name as she is now major. will i loose all the interest or is there anyother way

  116. Ranjit Kumar Choubey

    I am salary class person.I have a daughter of one year and three month i want to saving for my daughter future.I have Please suggest me which is best for me for opening PPf account(Post office or Sbi bank) I have allredy a saving account in SBI bank, also how much rate of intrest. it is taxable income or not, plesae suggest me.

  117. Hi,
    I am gonna open ppf account soon.
    i just wanted to ask that what are the various options i have got to pay the ppf..

    I want to invest 70k every year as its the max limit for investing.

    shall i pay rs 70,000 at once (one time payment) or shall i pay it in the installments ?
    I want to save my tax so can u plz guide what will be the best for me?

    Do they start period from the after paying my 1st premier ? and is it necessary to pay all 70k before april (End Of Financial Year) ?

    I have a HDFC account and its account in which i get salary credited.

    Thank You.

  118. hardeep

    Hi all,

    If I deposit some amount through agent then I get half commission as well as coupons from agent.
    Is there any kind of benefit to me If I deposit the amount directly through internet banking in PPF account?

    Thanks in adv…

  119. sanjay

    hi Manish
    following ur advice i opened PPF account with SBI. it just took 30 mins for whole exercise. i attached my saving account as debit account. so now when i open my onlinesbi page i can see my ppf account . so i can see balance , transfer funds. so much more easy…. thank you

  120. pradeepborah

    Since you can open PPF in SBI and post office , if you get hold of any agent , you can claim 0.5% commission from the agent. I opened two PPF a/c for self and my spouse and got back Rs 580 or Rs 480 (don’t remember exactly) from the agent for the amount of Rs 1,40000 (70,000 * 2) for lump sum payment. If you are depositing the amount Rs 70K in installments through the agent , you can claim 0.5 % for each installment you have paid.

      • Kapil

        Definitely not. However, I am doing the same since years. Actually, agents get 1% of whatever you invest per year. Hence, few of them don’t mind giving you half of it. Kind of a marketing strategy. The best part is the agent comes at your door step, fills up the PPF opening form, stands in queue in SBI on behalf of you, etc etc, which one would never want to do or can;t take out time. He would also come to collect the subsequent cheques.

        In my family, we have 3 ppf accounts and no one has ever visited the bank.

  121. dr manish

    i have 2 ppf acct at SBI. one for me and one for my i want to open one more for my 6year old daughter at SBI. i also have a saving acct there.
    please guide me.

    • Dr Manish

      you can open the account , but for tax purposes the maximum deduction you will get is just rs 70,000 combinely for yourslf and your child , If your spouse has her own personal income , then she can claim seperate 70k also .


  122. pallavi


    Need some help…..
    I have Saving Loan Account in SBI, Now I want to open PPF account .. Please tell me the procedure for the same..

  123. subodh

    Now that the Govt. has increased the PPF interest rate to 8.6% and scrapped agent commission. Is it effective from now on? Or is it effective from next financial year?
    Can anyone please clarify this?

  124. Piyush Kaul

    Hi Manish< first accept my thanks for this wonderful blog which helped novice like me immensely. I have one question on PPF and SBI account.

    1) i had one student account in SBI and against which i opened up an PPF account at REC Allahabad branch.
    2) now i m located in Delhi so for depositing money i have to request my father to do the traditional way.

    #) is it possible to get PPF account get transferred to some Delhi branch and if can i do online transaction from my hdfc account . do i still need my PPF passbook to be updated

  125. Amol B Mali

    Sir, I want to know all benifits of PPF Account like Credit card, Master Card, yearly maximum and minimum subspcriotion . when can i get loan from this account. How much amouont, the rate of intrest and duration and yearly bouns rate

  126. pankaj kumar

    SBI Janakpur road ,Sitamarhi (Bihar) Branch Manager says Janakpur Road Branch not authorised to open PPF account.So you go Sitamarhi SBI.
    I want open in janakpur Road branch.

  127. Balaji

    Hi Manish,

    Is it possible to transfer money to my SBI-PPF account from other SB accounts(mine or others) using NEFT? If it is possible, do you have ‘things to do’/’guidance’ for doing so?

    And is it true that PPF yearly limit is increased to 1 Lakh?


  128. Aparna

    I would like to know the maximum amount that can be invested in PPF + VPF account in a financial year. Can I invest the maximum amount limit [Rs. 1,00,000] in PPF and also some amount in VPF? Is this possible?

    • Aparna

      Note that PPF and VPF are totally seperate things .. there is no relation .

      While you can invest in PPF upto 1 lac now and VPF also , but the tax benefit would be restricted to only 1 lac


  129. usha

    Could you transfer the amount from X bank to PPF account?

    I have a salary ac with HDFC . I want to know if I can transfer money online to my PPF ac in SBI.
    Please help me.


  130. Gurvinder

    Please tell me if i have opened a PPF a/c in SBI branch & in future can i change the branch of SBI to another branch of SBI

  131. Sampad

    I have added the SBI-PPF account as savings account under my citibank account third party. Is it fine if I make the payment now ? Will it be reflecting in my PPF account when I go for a passbook update ?

    • Sampad

      Yes it should , make a test payment of Rs 500 and see that it does not come back in your account in next 3-4 days . It will confirm that it is going to your PPF , check with Bank once and see that its happening


  132. pooja chaudhary

    can i transfer money from bank of india account to the SBI PPF account? or i have to trasfer money from Bank of India to the SBI account and then to the SBI PPF account ? please answer me as soon as possible

    • Pooja

      You can direectly transfer money from BOB account to SBI PPF .. but incase you already have a SBI account and your PPF is linked to it , then why dont you invst via SBI bank itself ?


    hi, very very usefull post .. thanks a lot..
    i just wanna to know wich one is best PF or PPF.
    i think from my salary they will detect 12% as per govt say..
    we can extn this upto 15% in PF.

    how abt in PPF..
    shall i deposite as per my wish per month.. suppose 1000 in one month 500 in another month 5000 in another next month like tat..?

    and how long i can deposite this PFF many yeare.. if i wish to discontinue after 5yrs.. bank will accept and give me my money back with intreste ?

    Thanks in advace
    Ponnappan Ragu

  134. Ponnappan R


    Thanks 4 u r reply for my previous quotes..

    One more doube..
    see in fiscal year 2010-2011 i have done 10,000 saving in PPF for tat 8% means 10800 i will get on that year..
    1) whether i have to show 10K in my PPf or 10.8K in my PPF for investment proof ?

    2) since ihave 10.8 K as a previous balance . next fiscal yr 2011-12 if i have deposited same 10K means i have to show that yr amt only .. or else it include previous yr 10.8 amt also in my investement proof to get tax excepmtion..

    note : if you not understan my question , let me know i will repharse my sentence..
    any way Happy new year,, and made another yr as sucessfull..

    Ponnappan Ragu

    • Ponnappan

      Always you show the amount you invested , no matter how much interest you get or what is your balance , what goes out of your pocket matters , so here 10k is the answer


  135. Girish


    Need some information. Where can I download the nomination form for PPF? The SBI website does not have (I havent found it, if anyone has pls send the link). Also would the online netbanking for PPF is available?

  136. Anil Kumar Mittal

    1) Please let us know , whether PPF drawal on maturity is taxable .
    2)How much money from PPF account can be drawn say after completion of 20 years continued maintaining account ,
    3)ransfer of PPF account from one place to another city & whether saving bank account opening is essential for opening PPF account .

    • Girish

      Hi Anil,

      1) No, PPF amount withdrawal on maturity is non taxabale uptil now. Post the new proposed DTC, it is yet to be ascertained.
      2) If you intend to close the PPF account after 20 years, then you can withdraw the entire amount in the account. If you intend to continue for another 5 years then you can withdraw partially amounting to 60% of the balance at the end of 20th year subject to the 5 year block. This means you can withdraw during the 5 year block upto 60% only and not exceed it.
      3) You can transfer the PPF account from one city to another provided you transfer it to the bank which maintain PPF accounts. You dont have to neccessarily open a savings account for the same.

      I hope I have answered it correctly. Manish – request you to confirm the same please.

  137. Jeetu

    I want to acknowledge over here that its because of your Article I took decision to open the PPF Account at SBI during the month of Oct. 2011 and that was my first positive step towards Financial Planning. And I feel that was a Gift from me to myself… :-) during auspicious time of Diwali..

    Thanks Manish. Many times we want to do something, but we keep on postponing mainly due to ignorance about its importance and other reason is due to lack of enough clear information about it.. Your article had clearly gave all the reasons why to have PPF and this article tells how to open PPF with SBI.

    Good Job… Keep it up. I am asking my friends too for taking this steps…

    As far as experience of opening, it was very straight forward. If we go with all the necessary Docs (along with original). If we already have SBI Acc, it is REALLY ADDED advantage to get the PPF Acc.

  138. Rupesh

    I want to know that should i add nominee name or chenge , after opening PPF account ??
    plez reply on my mail ID mention .. at erliest.

  139. Amit

    I’ve a ppf account and savings a/c(internet banking enabled) with SBI, but the problem is that both of them have different home branches. Can i still link my ppf a/c with savings a/c, so that i can access both of them through SBI online banking.
    Any help is appreciated.

    • Jeetu

      Hi Amit…

      First using Onlinesbi, you log on to your savings account then under profile–> Manage Beneficiary–> Third Party

      Then under Manage Third Party, add your PPF Acc. No.

      Its very easy… Once done, you can transfer funds very easily.

      Cheers :-)

      • Amit

        well, what i really wanted to know is if i can manage both the accounts through a single login to SBI online (which you can do only if both of your a/c’s are linked together), but in my case since my both a/c’s are with different branches..can i still link them together??
        Thanks anyways.

        • Girish


          If you have your savings account and PPF account in two different SBI branches you cannot link both of them with a single internet banking login. You will be given two seperate internet banking logins as I have recently experienced. You could have got one internet login if your PPF and savings account are in the same SBI branch only. Hope this helps.

          • Amit

            Thanks for the reply Girish,
            In that case, can i link them together after changing branch of my savings a/c to that of a ppf a/c??

            thanks again,

  140. Viswanath

    I visited a hyderabad SBI branch , asked to open a PPF account .. filled the form.. ad requested to open the PPF with same branch where the SB account is , which is Coimbatore, she said that would not be possible, that she can only open in HYD branch not cbe branch, and said that I will have to wait 1 to 2 yrs to do the transfer .

    1. Can I open PPF with another state SBI from HYD .
    2. To transfer , do I need to close the account get a DD from HYD, take it to CBE and reopen ? ( again the Branch operation mgr in Kukatpally, said so ! )

    Please help Manish , this is so missleading .. what is the branch benefit in this ? I sometime wonder how you get all this information , and am thankful for your site !

    • PPF accounts can not be opened in any branch , there are preapproved branches , but there must be some SBI branch in Coimbatore which has PPF accounts ..

      1. Yes you can , mostly the bank person is lying or does not know

      2. You cant close the account like that .. you just have to fill the transfer form


      • Pulin Bhatt

        Hi Manish,

        Found your article helpful. I’ve joint account in SBI with my wife. And we do have our PPF accounts with SBI itself but with different branch. Now my question is this, can i link both of the PPF accounts with the SBI savings accounts? Kindly revert.


  141. vikas


    Can one open PPF account in post office and SBI simultaneously, if yes how ?
    if no . why .?

    Thank you in advance


  142. Anand


    Sir i have no taxable income but i want to open a ppf account (for saving & better interest) is it poosible to open & let let me know where is the best to open a ppf account in post office or sbi bank. If i open after that in yearly what ever amount if i want to deposit i can deposit or some fixed amount i have to deposit in per year & minimum how much year after i can withdrawl that money…..


  143. Shiva


    My wife has a current acct and a PPF acct with SBI and she came to the UK after we got married. She is currently working in the UK. Can she put money into PPF account? If she can, what is the easiest way of doing it?

    Any information is much appreciated.


  144. Gaurav Bhandari


    I just went to SBBJ Bank and there they asked me to open Bank account prior opening PPF. Is this correct? Should we always open an saving account and then PPF?


    • Gaurav

      No , there is no compulsion like that .. its just a trick to make sure they add one more account .. ask them to show any rule like this .. Also why dont you open a PPF in SBI . that would be a better choice .


  145. kuldhir

    Dear manish,

    Really nice work. I have a question. Srinivas said that “As per new direct tax code, maturity amount will be taxable”. Does it mean that if i invest 1L Rs per year and i get suppose 30 L at end of 16th year does it mean net 15L Rs will be taxable and government will take away 5L out of it. Then complete purpose of having PPF is lost i think!!

    Do correct me if i am wrong


      • kuldhir

        thanks for reply anand. But srinivas has said in comment# 136, point 3.. that it is taxable. Why this contradictory view?


          • kuldhir

            thanks manish for such a quick reply. tomorrow i am going to open my ppf a/c with sbi, bangalore. Fortunately i have sb a/c also. This is going to be my first investment of life. wish me all the best.. hehehehe

      • kuldhir

        thanks manish. ya i got it. i was just reading “Is Gold worth Buying ? A shocking Study” and i came to know that blogs’ birthday fall on 18th july. well mine is on 19th july. Why didn’t you wait for one more day to start this blog?? hehehehe… just kidding


  146. Surekha Rokdey

    i want to open PPF account in another SBI Branch where i have not Saving account. Can i open my PPF account there ? please tell me tax rebet limit of this account

  147. Nasir


    I want wanna to open PPF account with SBI,
    But i don’t have account with SBI branch, Could it possible to open an account??.

  148. Swati Dixit

    Hello Manish
    I want to add my daughter’s PPF account in Bank of Maharashtra as beneficiary through my SBI Internet Banking(RTGS) so that I can deposit money without going to Bank of Maharshtra.
    Further I am holding a SBI PPF Account in my name and I want to get it linked to my Internet Banking savings account.
    Please elucidate and kudos for the good work.

    Swati Dixit

  149. Raj


    After reading this post,I have opened a PPF acc in SBI in July 2011 and made a one time payment for 70k.Now when am I allowed to make deposits for 2012?Do I have to wait till April 1st?

    • Raj

      Yes . you should wait till April 2012 to make payments for 2012 . But now you can also make 30k more payment as the total limit in PPF has been increased to 1 lac in a year

  150. Sanjeev

    Hey ,

    I have a SBI account in Hyderabad but want to open PPF account in Bangalore. Is it an added advantage if I have a SBI account but in another state . Can I ask them to link my hyderabad SBI account while opening PPF in bangalore?

    Many Thanks!!

  151. Dilip

    Is ppf or pf is same thing.I am doing job and every month pf is deducted.Can I open a ppf account in bank or post office

  152. Jinu John

    Can some one help me.

    I would like to start PPF account. I have a SBT ( State bank of Travncore) account and its from kerala. Currently I am working in Bangalore. My question is :

    Do I need to open a new account for PPF?

    If I go any SBT brach at Bangalore is it possible?

    Or its all about a new account process.

    It would be really helpfull if some can answered me.

    Jinu John

    • Jinu

      No , you dont need to open a new account for opening PPF account, but bank people will ask you for that, just to make sure there account opening targets are met


  153. Rengasamy

    I have PPF account in SBI, but last 7 year not using this account (no money deposit). Now can I continue the PPF Account?
    Any information is much appreciated

    • Rengasamy

      Your PPF account must be in dormant state as of now .. so first you need to pay Rs 50 X 7 per year penalty to revive the account and also deposit 500 X 7 into account for last 7 yrs .. then it will come into normal state


  154. abhijit sarkar

    i have change my mobile number for INTERNET banking and produce bank approval form in my sbi branch. but my new mobile number not been activated (for information, do not call service activated). and previous mobile no also not send any msg regarding net transaction . pls help how i get net seure pass ward during transaction ?

  155. Gaurav Garg

    Can i withdrawn my PPF Amount after its maturity (let say after 7 year) from any where of SBI Branch or it can be withdrawn only from the SBI bank, where i had opened my PPF account ?????????

  156. Charls K V


    This forum give me a great idea of PPF. I am also interested to open one PPF account in SBI. My concern is like, I am having my salary account in SBI. So will I be able to link my newly opening PPF account to the salary account so that I can see my both accounts in one screen. Also I am trying to open my PPF account from a different brach as my salary branch is based out in a different location.

    If anyone tried this, please help on this.



    my wife having a ppf account in sbi, i am nominee in that account, now i am planning to open ppf account it is ok and we can claim tax deductions for my wife ppf deposits please confirm

  158. Sachin

    I tried to open PPF account in SBI Dombivli-Maharashtra Branch since last 1 month, the customer friend Bhushan is not having knowlge about the bank or how to treat customer… The bank staff is very bad and treate the customer like a ……, They even not reply gently, THey directly said if you wanna to open account follow us else you are free to open the account in other banks, Now I get frustated and would like to complain about the staff… let me know the higher authority personals.. for complaint…

  159. Devanil

    Please tell me what is the interest if I deposits 1 Lake/y .
    And also tell me I am not a salaried employee so, I open ppf A/c

  160. Ram

    Can 1 person have 2 PPF accounts in 2 different banks?? like 1 in SBI and the other in ICICI.. so i can invest more than 1 lack..?

  161. Malti Nanda


    If i opened PPF account on March 2012, then for Maturity i have to wait till the year 2026 or 27? Because as per the finacial year(April 2011- March 2012) first year end on March 2012.
    Please guide me.

  162. Sreenadh

    I am opened SBI saving account in my native place, where ther is no authorization for opening PPF account. I am working in chennai, i am planning to open PPF account in chennai using my savings account which is already opened. Do I need to submit chennai address proff while opening PPF account or my native proof is enough? Kindly clarify.

  163. Vasanth Kumar J

    Manish – Thanks a lot for the awareness. I’ve opened a PPF account 3 days ago.
    I will definitely spread the knowledge.


  164. Kamal Baxani

    Hi Manish, I’m planning to invest in PPF. I’m confuse from which year I can take out the money and how much I can take out? What happens after 15 years, how will get my money back?

  165. Hanmant

    Hi Manish,
    Would it be possible to do online transaction from bank account rather than SBI to my SBI-PPF account?

  166. Rohit

    Dear Manish,

    What is the eligibility to invest in PPF A/C, is it like we have to open it in our kid’s name?


  167. Lydia Mathew

    Dear Manish,

    Is there any fixed amount required to be deposited into PPF account in a year or is it according to ones convenience/capacity?