Opening PPF account in hometown advantageous?

POSTED BY Kirubakaran ON July 5, 2012 11:14 am COMMENTS (3)

Hi All,

I will open PPF account this week in SBI.

My doubt is opening in Chennai or my hometown ?

Is there any advantage opening in hometown(considering the fact , I will deposit money through online only)

And once its matured after 15 years, do I need to come to the Bank which I opened PPF to collect my money?

Please advice me.

Thanks,
Kirubakaran

3 replies on this article “Opening PPF account in hometown advantageous?”

  1. Kirubakaran says:

    Hi BanyanFA and Ashal,

    Thanks for your reply. I will open in Chennai.

  2. Dear Kirubakaran, as of now, please open the account with the SBI branch where you are transacting as of now in Chennai. Later on you can transfer the same as & when you want to, anywhere in the country.

    Thanks

    Ashal

  3. BanyanFA says:

    Hi,
    In the current banking system, it really doesn’t make a difference where you open the account. You can also transfer the PPF balance from one bank to another bank. Open it where you would find it easier to deposit the funds.

    Regards
    BanyanFA

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today