Interested in financial products

How to Open a PPF Account

PPF accounts can be opened at post offices, nationalized banks, and major private banks such as ICICI, Axis Bank, HDFC bank, to name a few. Many banks allow you to open a PPF account online through net banking. Once the account is opened, a passbook similar to the bank passbook recording all transactions such as subscriptions, interest, withdrawals, etc. will be issued. However, some other banks simply allow PPF entries to be viewed online instead of issuing a passbook.

Steps to open a PPF account are as below:

  • Log in to your bank’s net banking portal.
  • Click on the option that allows you to open a new PPF account.
  • A few banks may have an option to choose between a self-account and a minor account. Choose the option as applicable.
  • Begin creating the PPF account by entering the nominee details, bank details, etc. Certain details such as your Permanent Account Number (PAN) will be displayed. You must verify that all the details displayed on the screen are correct.
  • After entering the details, you must enter the amount that must be deposited in the PPF account.
  • Standing instructions can also be set-up at certain banks so that the money can be automatically deposited in intervals or a lump-sum.
  • Enter the OTP that has been sent to your registered mobile number or the transaction password. (this step may not be relevant in case of some banks)
  • Once the above step is complete, the PPF account will be created. You can make a note of the account number that is displayed on the screen for reference purposes.
  • In some cases, you may have to take a print-out of the details that have been entered along with the reference number and submit it at the bank with the Know Your Customer (KYC) details.

PPF Account Opening Forms

Form A, also known as the account opening form for PPF can be obtained in order to open a PPF account. This form can either be downloaded from the internet or could be physically obtained from a bank or post office. Form A can be used to open a PPF account for minors, Hindu Undivided Families, Associations and for oneself.

Banks may have different versions of Form A; however, the basic information is the same irrespective of the bank/post office one obtains this form from. Individuals wishing to open a PPF account will be required to furnish the following details in Form A.

  • Name of an applicant
  • Date of birth of the applicant
  • Date of applying
  • PAN details of the applicant
  • The initial amount deposited. This amount can be deposited through cash or cheque
  • Permanent address of the applicant
  • Passport size photographs
  • Valid government approved ID card for verification
  • In the event of an applicant not having a PAN card, he/she needs to provide an attested copy of a government ID card
  • An applicant needs to sign the form and provide additional specimen signatures. In case an individual is incapable of signing the form, he/she must provide a thumb impression

Applicants who wish to open an account with a bank might be required to provide certain additional information, as mentioned below.

  • Bank account number of the applicant
  • Branch details where an account is being opened
  • Debit mandate and debit account number
  • Standing instructions (if any)
  • Occupation
  • Marital status

Criteria for Opening PPF Account

Some of the important conditions that must be met to open a PPF account online are mentioned below:

  • The applicant must have a savings account with the concerned bank.
  • Net Banking facility must be activated.
  • Applicant’s Aadhaar number must be linked to the savings account.
  • The applicant’s mobile number must be linked to Aadhaar.

Declarations in Form A

An individual opening a PPF account is required to acknowledge certain declarations in Form A. These declarations are as mentioned below:

  • An applicant does not hold another PPF account
  • An applicant does not maintain a PPF account except an account on behalf of a minor/HUF/an association
  • Details of accounts managed by an individual. An applicant should fill in the name, address of bank/post office which maintains such an account and the account number in this declaration
  • Applicant’s commitment to adhere to the monetary requirements in terms of deposits and maintaining the account

Documents Required to Open PPF Account

  • PPF account opening form (Form A) can be obtained from specified bank branches or can be downloaded online.
  • ID proof
  • Address proof
  • Photograph of the account holder
  • Nomination form

Other Forms Required for PPF Account Opening

The bank enables the investor to estimate the value of his/her investment at the time of maturity with its PPF calculator. This enables the investor to plan for his/her future expenses or know the correct amount of investment to be made in order to build the required fund. The investor has to input the following values or details in the PPF calculator available at the bank’s website in order to get the details of the maturity value.

  • Principal amount invested.
  • Rate of Interest.
  • Tenure of PPF deposit.

Loans against IDBI Bank PPF account

  • PPF Contribution Form – Form B
  • PPF Partial Withdrawal Form – Form C
  • PPF Loan Form – Form D
  • PPF Nomination Form – Form E
  • PPF Change of Nomination Form – Form F
  • PPF Claim Form – Form G
  • PPF Extension Form – Form H

About PPF

Public Provident Fund (PPF) or PPF is an excellent way for small investors to create long-term wealth by investing small amounts of money regularly. It is a preferred investment option since it is backed by the Government of India and comes with an attractive interest rate and guaranteed returns. These returns are entirely exempt from tax under Section 80C of the Income Tax Act. Investors can save tax ranging from Rs. 500 to Rs. 1,50,000 in a given financial year, and can get facilities such as loan, withdrawal, and extension of account.

PPF is considered to be a good investment avenue for self-employed persons or for those who are from unorganized sectors since EPF/GPF may not be available to them.

The interest earned on the PPF account is set for every quarter and is paid by the government. The applicable interest rate on PPF for the first quarter of the year, 2021-22 i.e. from 1st April 2021 has been fixed at 7.1%.


1. Can I maintain more than 1 Public Provident Fund (PPF) account under my name?

Only one PPF account can be maintained by an Individual, except an account that is opened on behalf of a minor.

2. What happens if I fail to deposit any amount in one or more Financial Years?

A penalty of Rs. 50 will be levied per year of default if the customer doesn't deposit the minimum deposit amount of Rs. 500 on the completion of the financial year.

3. Can I withdraw PPF after 5 years?

The Government has lately amended the PPF scheme and propagated some positive changes regarding the withdrawal of balance from the account. You can now withdraw the whole amount and close your PPF after 5-years.

4. Can I withdraw my PPF before maturity?

The amount in PPF account can be withdrawn only at the time of maturity. However, earlier the PPF amount was locked for 15 years. But, now the balance of PPF account can be withdrawn on completion of 5-years.

5. What is the PPF lock-in period?

Investments made to a PPF account have a lock-in period of 15 years. However, individuals can make a partial withdrawal from the PPF account after 5 years from the date of opening the account.

6. Can I avail of Loan facility on my Public Provident Fund (PPF) investment?

Customers can avail of the loan facility between a third financial year to sixth financial year ie. from a third financial year up to end of the fifth financial year.

End Note

PPF account opening form is also known as Form A. Applicants have to mention their name, address and the amount of the initial cheque to open the PPF account. In case of an account for a minor, one has to mention the name of the minor, his/her date of birth and the applicant’s relationship with the minor. Some banks allow applicants to open a PPF account online. In such a case, applicants can submit these details online.

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