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.
Following are the key details of HDFC Bank PPF account:
|Minimum investment amount
|Rs. 500 in a financial year
|Maximum investment amount
|Rs. 1,50,000 in a financial year
|Rate of interest
|PPF loan facility
|Allowed between 3rd & 5th year
|Allowed after 7th year for emergencies only
|Mode of deposit
|Cash, cheque, demand draft or online transfer
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.
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.
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You can open a PPF Account offline by visiting your nearest post office and following the steps given below:
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:
To open HDFC PPF account online, you must:
To open a HDFC PPF Account, you will need to submit the following documents:
Also Check: HDFC Cibil Score
Following are the features of public provident fund HDFC in detail:
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Yes, you can opt for the facility of HDFC Bank PPF account opening online or offline.
The PPF rate in HDFC is 7.10% p.a. at present.
Yes, apart from the facility od PPF account opening online HDFC also offers PPF withdrawal online.