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How to Open PPF Account 2026

PPF Account - Open at post office or bank. ₹500-1.5L/year contribution. EEE tax-free.

📁 Banking ⏱️ 30-45 mins 💰 Free

About This Guide

Public Provident Fund (PPF) - 15-year tax-free savings. ₹500 minimum to ₹1.5 lakh maximum per FY. Interest 7.1% (current, govt-set quarterly). EEE: contribution Sec 80C ₹1.5L deductible, interest tax-free, maturity tax-free. Open at post office or any major bank. Aadhaar mandatory.

Eligibility Criteria

Indian citizen
Adult OR guardian for minor
Aadhaar mandatory
PAN
Only 1 account per individual
HUF NOT eligible (changed in 2018)

Documents Required

Keep these documents ready before starting application. Missing documents = delayed approval.

Aadhaar
PAN
Passport-size photos
Address proof
Initial deposit (₹500+)
Account opening form
Existing bank account proof
Nominee details

Step-by-Step Application Process

Follow these steps in order. Each step is critical - skip none.

Choose Institution

Post Office OR major bank (SBI, HDFC, ICICI, etc.).

Visit Branch

Walk-in.

Form A

Account Opening Form.

KYC + Documents

Aadhaar + PAN + photo.

Initial Deposit

₹500 minimum.

Nominee Details

Nominee form.

Account Opened

Same day.

Passbook

Issued in 7-15 days.

Annual Contributions

Min ₹500 per FY.

Maximum

₹1.5 lakh per FY.

15-Year Lock

Maturity Year 15.

Extension

5-year extensions allowed.

Key Benefits

EEE tax structure
₹1.5L Section 80C deduction
Interest tax-free
7.1% rate (current)
Govt-backed safety
15-year horizon
Loans + partial withdrawal allowed
5-year extensions
Hereditary nomination

What Happens After Application?

Account active immediately. Passbook 7-15 days.

Frequently Asked Questions

Multiple accounts allowed?

NO - one per individual. Even 1 in post office + 1 in bank: not allowed. Penalty.

Minor account?

Yes - guardian operates. ₹1.5L per child, ₹1.5L parent self - separately.