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HDFC PPF Account

Public Provident Fund (PPF) is a long term fixed returns investment option backed by the Government of India. It provides tax deduction benefits to subscribers. HDFC is one of the many banks that offer PPF account opening as well as monitoring services. You can visit any of the HDFC Bank branch to open a PPF account or open an HDFC PPF Account online.

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HDFC PPF Account Details

Following are the key details of HDFC Bank PPF account: 

Minimum investment amount Rs. 500 in a financial year
Maximum investment amountRs. 1,50,000 in a financial year
Rate of interest7.10% p.a.
PPF loan facilityAllowed between 3rd & 5th year 
Partial withdrawals Allowed after 7th year for emergencies only
Maturity period15 years
CitizenshipIndian citizen 
Nomination facilityAvailable
Tax benefitAvailable
Mode of depositCash, cheque, demand draft or online transfer

HDFC PPF Account Interest Rates

PPF interest rates are decided on a quarterly basis. HDFC offers PPF at attractive interest rate of 7.10% p.a. This interest rate is effective since 1st April 2020. The PPF interest rate is fully exempt from tax under Section 80C of the Income Tax Act.

HDFC PPF Account Opening

You can open HDFC PPF Account offline by visiting ay branch of the bank. If you are an existing HDFC Bank customer, you can avail the facility of HDFC PPF account opening in just a few minutes. 

How to open a HDFC PPF account offline?

You can open a PPF Account offline by visiting your nearest post office and following the steps given below:

  • Get a PPF application form from the nearest post office/ sub-post office in your area.
  • Fill in the form and submit it along with the required KYC documents and passport size photograph.
  • You can make an initial deposit of Rs. 500 to Rs. 70,000 to open a post office PPF account. 
  • After submitting all the documents with the initial deposit, you will be handed over a passbook for your PPF Account, which will contain all the details regarding the PPF account, such as the account holder’s name, PPF Account number, branch name, etc.

How to open a HDFC PPF Account online?

If you are an existing HDFC customer, you can open PPF account online HDFC anytime by following the steps mentioned below: 

  • Sign in to HDFC Bank Net Banking or click the link https://netbanking.hdfcbank.com/netbanking/?LGCode=MKTG&mc_id=PPFLearning-Centre.
  • Click on the banner ‘Public Provident Fund’ under ‘Offers’ Tab.
  • Confirm the details displayed in the next screen and then enter the amount you wish to deposit.
  • Choose if you want to add a nominee and then click ‘Submit’.
  • If your Aadhaar number is linked to your bank account already, your form will be submitted and you will get a message saying your account will be opened in one working day.
  • If your Aadhaar number is not linked to your account, you must link it first to be able to complete the process.
  • After HDFC PPF account opening online, you can transfer funds from your Savings Account directly to your PPF Account.

To open HDFC PPF account online, you must:

  • Be an existing HDFC Bank Savings Account holder.
  • Have access to NetBanking/MobileBanking facility of HDFC enabled for your account.
  • Link your Aadhaar number to your account.
  • Make sure that your mobile number which is linked to your Aadhaar is active, for receiving an OTP to e-sign/ e-authorise the opening of the PPF account instantly.

To open a HDFC PPF Account, you will need to submit the following documents:

  • Identity proof like Voter ID, PAN Card, or Aadhar Card.
  • Residence proof
  • Passport size photographs
  • Pay-in-slip (it is available at the bank branch or post office).
  • Nomination form

HDFC PPF Account Eligibility

  • Any Indian citizen can open HDFC PPF account in their own name or on behalf of a minor.
  • No joint PPF accounts are allowed.
  • NRIs (Non-resident Indians) are not eligible to open a PPF account. However, an Indian resident who becomes an
  • NRI during the 15 years of tenure prescribed under PPF Scheme can continue to subscribe to the fund until the maturity on a non-repatriation basis.
  • You can open only one PPF account and have to declare the same at the time of account opening.

Check PPF Account Balance

  • Link your PPF account to your existing HDFC bank savings/ current account.
  • Make sure that you get internet or mobile banking facility enabled.
  • Log on to your HDFC account with your online or phone banking credentials. 
  • Check your HDFC PPF Account Balance online instantly.
  • Also, you can check your PPF account balance offline. For that, you have to get your PPF passbook updated and to see details of all credits and debits made in your PPF account.

HDFC PPF Account Features

Following are the features of public provident fund HDFC in detail:

  • You can invest minimum Rs. 500 and maximum Rs. 1,50,000 in a financial year in PPF HDFC.
  • A PPF involves a minimum tenure of 15 years, which can be extended in blocks of 5 years if you wish.
  • You can open HDFC PPF account online or offline with only Rs. 100. 
  • Deposits in PPF account can be made every month or in a lump sum through cash, demand draft (DD), cheque, or online transfer.
  • You can take a loan against your PPF account deposit between the third and fifth year and can also make partial withdrawals after the seventh year for emergencies only.
  • 50% of the PPF balance can be withdrawn after the expiry period of 5 years, excluding the first financial year.
  • The PPF account in HDFC Bank online cannot be held jointly. However, you can make a nomination.
  • You must necessarily make a minimum deposit of at least Rs. 500 every year.
  • The government of India provides tax benefits on a PPF account.
  • HDFC PPF interest rate is 7.10% p.a. and is fully exempt from tax under Section 80C.
  • If you do not deposit a minimum amount of Rs. 500 in your PPF account in any financial year, a penalty of Rs. 50 will be charged.
  • You can transfer PPF from other bank or post office to HDFC Bank.

HDFC PPF Account Rules

  • You can make an initial deposit of Rs. 500 to Rs. 70,000 to open a post office PPF account. 
  • You must be an existing HDFC Bank Savings Account holder.
  • You must have access to NetBanking/ MobileBanking facility of HDFC enabled for your account.
  • You have to link your Aadhaar number to your account.
  • Your mobile number which must be linked to your Aadhaar and is active, for receiving an OTP to e-sign/ e-authorise the opening of the PPF account instantly.
  • No joint PPF accounts are allowed.
  • NRIs (Non-resident Indians) are not eligible to open a PPF account. However, an Indian resident who becomes an NRI during the 15 years of tenure prescribed under PPF Scheme can continue to subscribe to the fund until the maturity on a non-repatriation basis.
  • You can open only one PPF account and have to declare the same at the time of account opening.
  • A PPF involves a minimum tenure of 15 years, which can be extended in blocks of 5 years if you wish.
  • You can open HDFC PPF account with only Rs. 100. 
  • Deposits in PPF account can be made every month or in a lump sum through cash, demand draft (DD), cheque, or online transfer.
  • You can take a loan against your PPF account deposit between the third and fifth year and can also make partial withdrawals after the seventh year for emergencies only.
  • 50% of the PPF balance can be withdrawn after the expiry period of 5 years, excluding the first financial year.
  • If you do not deposit a minimum amount of Rs. 500 in your PPF account in any financial year, a penalty of Rs. 50 will be charged.

HDFC PPF Account FAQs

Can we open an HDFC PPF account online?

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Yes, you can opt for the facility of HDFC Bank PPF account opening online or offline.

What is the benefit of a PPF account in HDFC?

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  • Good long-term investment for 15 years.
  • Account can be extended for a block of 5 years after maturity.
  • Provides tax benefits.
  • You can opt for HDFC online PPF account opening.
  • The bank issues Passbook to customers.
  • Attractive HDFC PPF account interest rate of 7.10% p.a.

What is PPF rate in HDFC?

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The PPF rate in HDFC is 7.10% p.a. at present.

Can PPF withdrawal online HDFC?

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Yes, apart from the facility od PPF account opening online HDFC also offers PPF withdrawal online.