August 17, 2013 4:13 pm
Can I open PPF A/C in SBI and can I also open PPF A/C in post office?
Is it possible or not? If not what are the conditions.
Thanks Mohit for the reply. I think now they are asking for the PAN card.
I opened my PPF account just by submitting the passport photocopy.
If I open two PPF accounts in 2 cities, how will they come to know?
Assume that I do not want tax exemptions and I will deposit only cash.
Anand, there is something called PAN and PAN is required to open PPF account.
If anyhow you are able to open more than one PPF aacount and deposite cash and if this got caught anytime all the interest earned will be reversed so think if you got caught after 14 years you will loose all your interest.
Resident Indian individual can have only one PPF account
Dear Vijay, what do you want to get from 2 PPF accounts? How about opening 10 PPF accounts in different branches of SBi itself? if your answer is yes, you can, my counter question ‘how’ & if you say, Not possible, again ‘Why’?
This is not allowed. Only one PPF account is allowed for per adult. You can open PPF account for your minor children but total maximum contribution will be 1 lacks only..
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