How Do I Open a PPF Account at SBI and What Should I Know About It?

Dear members,

Please let me know how to open a PPF account. I have an SBI branch nearest to me. Can I open the account there? What are the required documents? Also, please inform me about the requirements or constraints associated with a PPF account, such as the minimum lock-in period, etc.

Thank you.

PPF accounts can be opened in almost every nationalized bank and also at the General Post Office in the area. They will provide you with the enrollment form. You have to deposit a minimum of Rs. 500 per annum for continuity. The lock-in period is for 15 years, which may be extended for 5 years two or three times (check that).

PPF accounts can be opened in almost every nationalized bank and also at the General Post Office in the area. They will provide you with the enrollment form. You have to deposit, I suppose, a minimum of Rs. 500 per annum for continuity. The lock-in period is for 15 years, which may be extended for 5 years two or three times (check that).

Hi All, I want to know if a person having a PPF account is allowed to open another (second) PPF account with another bank instead of transferring the first account. The individual will manage the deposit cap of Rs 1 Lakh as per norms (including the first account). Please advise.