Comprehensive Details to Download PPF (Public Provident Fund) Online. Download PPF Account Receipt Online at SBI Online, YONO SBI. How To Download PPF Account Payment Receipt Online. How to Close a PPF Account.
PPF Account
India is incredibly developed with multiple schemes and programs. The government (s) caters for all citizens regardless of the position or levels. There are programs for private, public sector workers and citizens who can easily save for retirement or other savings.
The Public Provident Fund (PPF) is a significant saving scheme that helps investors or individuals save to avail good returns. The amount gains interest and is not taxable once mature. The scheme was launched by the National Saving Institute under the Finance Ministry since 1968.
The scheme has a maturity tenure of 15 years. Having the online format, one can check the PPF status at any time, but only if you have a bank account.
Eligible Details for PPF Account
For one to be eligible for a PPF account, they must:
- Be an Indian citizen.
- Not be an NRI or HUF.
- Should have one PPF account in your name.
- For a minor, you (parents/guardian) can open an account on their behalf.
Documents Required for Opening the PPF Account
The listed below are documents required for opening a PPF account:
- Latest address proof.
- Application form.
- ID proof like:
- Permanent Account Number (PAN) card.
- Password.
- Aadhar card.
- Signature proof.
After the submission of the above-listed documents, deposit the required amount to open the PPF account.
Download PPF Account Receipt From SBI Online
Step by step to Download process on PPF account receipt from State Bank of India (SBI) online.
Follow the below-mentioned steps to download the PPF account receipt from SBI online:
- An individual can open the official website of SBI Online and do the following:
- Move to the SBI Internet Banking portal link at https://www.onlinesbi.sbi/.
- In the “Personal Banking” option tap the “Login” option.
- Proceed to the “Continue to Login” option, which will redirect you to a new page.
- One has to log into the Internet Banking account through:
- Inputting your Internet banking details such as:
- Password.
- Username.
- Tap on the “Login” option after keying in the captcha code.
- You will receive an OTP in your registered number to input it in its place.
- Submit to login and proceed with PPF details.
- Move to choose the “Public Provident Fund” tab and follow the below steps:
- In the screen menu, hit the “Deposits and investment” button.
- Tap the “Public Provident Fund” tab to open a new page.
- Get to the transaction list and follow the instructions:
- Hit on the “Re-print e-receipt for PPF” tab.
- Choose the date of the days for your receipt print, e.g., 365 days.
- Tap on the “Go” option, and all the choices of your transactions will be shown.
- After that, download the e-receipt for PPF by following the below steps:
- Tap on the reference number of your receipt choice.
- The transaction details will be shown.
- Get the “Click Here view/ Download the e-receipt in PDF format” tab.
- Finally, you will get a download of your PPF transaction.
Benefits of the Public Provident Fund (PPF)
The benefits of the PPF include:
- It exempts tax, interest earned, additional benefits received at maturity, principal invested, and the amount deposited on the PPF account of a child or spouse.
- You can open the PPF account in public banks, the chosen private banks, nationalized banks, and post offices.
- The government backs the PPF investment, thus having a low-risk factor.
- You are allowed to take a loan or withdraw some money after seven years despite the set lock period of 15 years.
- The PPF account has fixed returns.
How to Download PPF Payment Receipt from YONO SBI
Download process on PPF payment receipt from YONO SBI.
Follow the below instructions on how to download the PPF payment receipt from the YONO SBI:
- One has to open the “YONO SBI” APP by:
- Google the SBI Yono from either the Play Store or the App Store.
- Log in to the app using the following Internet banking details:
- Username and password.
- MPIN.
- Proceed to select the “Tax and Investment” tab, then do the following:
- On the upper side of the screen, hit the “Menu” tab.
- In the drop-down menu, tap on the “Service Request” button followed by the “Tax and Investments” tab.
- A new web page will open.
- Get the transaction list on YONO through:
- Hitting on the “Print PPF e-receipt” button.
- Get the PPF account for receipt download.
- Choose the dates on which you need the receipt printed, e.g., 365 days.
- Tap on the “Next” tab, and you will get the display of your receipt transaction list.
- Download the PPF e-receipt on YONO By following the below steps:
- Get the transaction of the receipt to download from the menu list.
- You will get the display of transaction details.
- Hit on the “Download” tab to download the PPF transaction receipt.
The PPF Account Features
The listed below points are features of the PPF account:
- The opening balance is at Rs.100 with an annual investment of Rs.1.5 lakh. No interest earned on this investment.
- Mode of deposit into the PPF account is through:
- Demand draft.
- Cheque.
- Online fund transfer.
- Cash.
- Investment limits should have a minimal and maximum investment of Rs. 500 and Rs. 1.5 lakh respectively.
- You can have a nomination of your account at the opening of your account or after the opening.
- No joint account for the PPF demands one person’s name.
- The PPF tenure is at a minimum of 15 years.
- A risk factor is free for the government to back up the PPF account.
- Deposits are made once per year for 15 years.
How to Close a PPF Account
The steps below guide one on how to close the PPF account:
- According to the PPF rules, no one is allowed to withdraw the PPF account balance at the end of its tenure of 15 years.
- At the end of the 15-year term, one can access and withdraw your account.
- No withdrawal of the entire PPF account before the end of the whole tenure.
- The withdrawal of the premature PPF account of 50 percent is given after five years of deposit.
The interest rate for PPF.
The interest rate was in the beginning at 7.9%, which reduced to 7.1% yearly. The finance ministry sets the interest rate, and it is paid on 31st March. The interest calculations are done on the basis of the minimum balance on the fifth day and the end of the month.
Also read Jan Aadhar Card Download PDF, Jan Aadhar Status, Registration 2024
FAQs.
- What is the PPF interest rate as of now?
The PPF interest rate stands at 7.1% yearly.
- What are the details for one to be eligible for the PPF account?
The eligible details for the PPF account are as follows:
- One should be an Indian citizen.
- One should not be NRI or HUF.
- One should have single PPF account in their name.