How to open PPF account in HDFC bank

51
PPF is one of the most popular investment options for retirement in India.

ppf-in-hdfc-bank

The Indian Government has expanded the PPF schemes from nationalized banks, post offices to major private banks in India so that PPF scheme is accessible to more people in India.

HDFC is the latest bank to join in providing PPF scheme to mobilize retirement savings in India. The PPF Scheme offers an investment opportunity with decent returns coupled with income tax benefits in India.

Some of the major banks allowed to open PPF are – HDFC, SBI and its associated banks, ICICI, PNB, Andhra Bank, BOB – Bank of Baroda, Central Bank of India, Vijaya Bank, Allahadbad Bank, Oriental Bank of Commerce, Canara Bank, Axis Bank, Indian Bank etc.

A PPF account can be opened at all HDFC bank branches throughout India. Now, even you can apply on netbanking by filing basic details but you need to visit the branch once to complete the formalities.

How to open PPF account in HDFC bank?

1. Documents checklist: Get the basic documents ready before visiting to the bank branch. Documents including ID proof, Address proof, two photographs etc. Carry original documents to the bank branch for quick verification and process.

ID proof can be any one of the following like Passport, PAN card, Driving license, Voter ID card etc.

Address proof can be any one of the following like Telephone bill, Ration card, EB bill etc.

2. Visit any HDFC branch: Visit the nearest HDFC branch and ask them for a PPF account opening form (Form A). Then, fill the form A and submit the supporting documents along with your photographs. All the submitted documents needs to be self attested.

Once PPF is opened, you will be issued a PPF Account passbook from HDFC branch.

HDFC PPF Link: http://www.hdfcbank.com/personal/products/investments/public-provident-fund

How to transact online in HDFC PPF account

Now that your PPF account in HDFC is opened, you can invest your money in your PPF account by offline and online payments.

The HDFC bank offers online fund transfer from the individual’s savings account to their PPF account or you can also avail Standing Instruction facility like auto-debit or ECS can be set online for making PPF contribution.

You can also deposit cash in your PPF account by visiting any of the HDFC bank branches.

You need to furnish a separate form for auto-debit or ECS form along with your PPF account opening form and mention the amount to be deducted and the time intervals at which this should be deducted. Minimum deposit of Rs 500 and maximum of Rs 1,50,000 can be deposited in a Financial Year with a maximum of 12 transactions allowed.

How to transfer your existing PPF account to HDFC

PPF account can be transferred from any post office or from one bank to another bank easily. In case if you want to transfer your existing PPF account from post office or other designated bank like SBI, ICICI to HDFC bank then you requires to submit PPF transfer request in the bank/post office where your PPF account is held.

The Post office/bank will then arrange to send all the PPF account related original documents to HDFC Bank branch address provided by the customer. PPF related original documents including certified copy of the account, nomination form, Cheque/DD of the outstanding balance etc.

Also read: How To Transfer Your PPF Account To ICICI Bank

Once PPF transfer documents are received by HDFC branch, the official will inform customer about the receipt of documents. Then customer needs to submit fresh PPF account opening form, Nomination form, along with the existing original PPF passbook. This PPF account will be considered as a continued PPF account by HDFC.

If you have any doubts regarding HDFC PPF account, kindly leave your comments. We would try our level best to address those.

Other Posts You May Also Like To Read

Leave A Reply

Your email address will not be published.

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.

51 Comments
  1. Jayashree says

    Hi
    Recently I opened PPF account in HDFC through online, how can I transfer monthly installment amount to PPF account

    1. Mohammad Ali says

      Hello Jayashree,
      You can Transfer PPF funds online from linked Savings Account by setting Standing Instruction facility.
      Step 1: Log on to your HDFC Bank NetBanking and Click on “Funds Transfer” Tab
      Step 2: Next, Select “Transfer to Other Bank (NEFT)” and Select “From” and “Beneficiary”
      Step 3: Enter the PPF monthly installment Amount
      Step 4: Enter the Transfer Description
      Step 5: In Transfer Type select “Set Standing Instruction” Option and select any SI Frequency of your desire from monthly, every alternate month, quarterly, half yearly
      Step 6: Select number of times you want to transaction takes place and End Date will be automatically populated.

  2. Geeta says

    I am a joint account holder. Can I open a PPF account. If so the procedure please.

    1. Mohammad Ali says

      Yes Geeta, you can open PPF account in HDFC bank. Visit the Selected HDFC branch and open your PPF account. Remember, An individual can open only one PPF account.

  3. sapna says

    i want to transfer my existing ppf ac from UBI to HDFC.. and to transfer they need to know the hdfc branch with PPF facilities OR PPF desingated branch, there only they can transfer the documents not all branches are there in their system.

  4. ROHIT SHARMA says

    shall we pay PPF amount 12000/-once in a year or 1000/- every month ?????

    for example 1000(per month)* 12(months)= 12000/- P. A

    1. Mohammad Ali says

      Yes you can

  5. Sachin says

    Hi
    I’m having an account in hdfc but address is of my work place and I want to open a ppf account with Mira road branch how can I do that

  6. Sanjay jain says

    Recently I have opened the PPF account in HDFC bank online. The allocated branch is different from my saving account branch. Also the city is different. Now I want to change the PPF account branch to my saving account branch. I want to know the procedure.

    1. Gopal says

      Sir, Please share the procedure of online PPF account in hdfc.
      I am unable to find it with our net banking.

  7. Sunil says

    Dear I wish to transfer my ppf account from sbi to Hdfc bank

    1. Mohammad Ali says

      Sunil, it is very easy to transfer ppf account from one bank to another. Basic rules are same here.

      1. Visit your existing bank SBI and check whether your PPF account is updated in your PPF passbook.
      2. Once your PPF passbook is updated, you need to submit PPF transfer request in the SBI branch where your PPF account is held.
      3. SBI will arrange to send the original documents to HDFC Bank branch address provided by the subscriber. Original documents such as copy of the PPF account, nomination form, specimen signature etc. along with cheque or DD of the outstanding balance in your PPF account.
      4. Once the transfer documents received, the HDFC branch officials will inform you about the receipt of documents.
      5. Finally, you required to submit fresh PPF account opening form, Nomination form, along with the original existing PPF passbook to HDFC
      That’s it 🙂

  8. Santosh Gudaganatti says

    I already have PPF account, I want to transfer further more money. I am not able to add PPF account as beneficiary, its showing invalid account. What should I do next?

  9. GUNAPALA CN says

    Hi, how to add PPF account to HDFC net-banking beneficiary list its saying invalid account number

    1. Mohammad Ali says

      Hello Gunapala,

      1. The payee name and the PPF account number should match exactly with that mentioned in your PPF account.
      2. Select the bank branch in which your PPF account is maintained. For example, if your PPF account is in ICICI Bank then mention ICICI and the corresponding branch name
      Enter payee account number as your PPF account number
      3. Once, the above mentioned details are filled in and submitted, your PPF account will be added as a third party account.

      Still if you get the same error, then you need to contact HDFC phone banking

  10. Srinivas Rao says

    What is the interest rate on ppf account.
    Kindly revert back at the earliest.

    1. Mohammad Ali says

      Latest interest on PPF is 7.6 per cent (compounded annually) for the quarter from January to March 2018.

  11. sachin says

    how to transfer online money from hdfc bank account to same hdfc PPF account ?

    1. Mohammad Ali says

      You can just opt for “Standing Instruction facility” from HDFC

  12. Rakesh says

    I wanna apply for PPF account . How Many days it will take to active for HDFC bank.

    1. Mohammad Ali says

      It will take 5 to 7 days

  13. Anjali Somwanshi says

    Can I open a PPF a/c online ? It is valid ?

    1. Mohammad Ali says

      Hello Anjali, you can apply PPF online but you need to visit the HDFC branch once to complete the formalities.

  14. madhu says

    i deposited 3000 rs in ppf hdfc
    i amnot aware before it is for month or year
    now i want to put some more in ppf in this year only
    is it possiblebalace showing 3000 rs

    1. Mohammad Ali says

      Hello Madhu, The maximum amount which can be deposited every year is Rs. 1,50,000 in an account at present.

  15. sap says

    Hi,

    Would like to inquire about the tenure of PPF with HDFC. Or if we would want to terminate the same and Ancash the amount, would we be eligible. what’s the rate of Interest?

    1. Mohammad Ali says

      The rules of PPF are same in any bank or post office. PPF lock-in period is 15 years and the money can be withdrawn in full after its maturity period. However in crises, partial withdrawals are permitted subject to certain rules. The current interest rate is 7.8% effective from 1 July 2017.

  16. Veena says

    How do I download ppf account statements in hdfc?

  17. amit says

    can i open ppf acc. in hdfc bank in silvassa branch

    1. Mohammed Ali says

      Yes now you can open PPF account in any HDFC Branch

  18. akshay says

    thanx for sharing valuable information.
    akshay recently posted…10 Best Android Apps Of 2017My Profile

  19. Manjeet Chauhan says

    I hv apy account In sbi bank…can I open ppf account in hdfc.

    Two govt services in two different account, any problem.

    1. Mohammad Ali says

      Hello Manjeet, you can open both the accounts

  20. sarabjeet says

    Can I link a ppf account to my savings account of same bank? I need to open a ppf account and I’m thinking to open in HDFC as I have the savings account in.

    1. Mohammad Ali says

      Absolutely, You can use standing instruction or Transfer funds online option to ensure regular investment in your PPF account

  21. vinay says

    how can i pay ppf online

    1. Mohammad Ali says

      Yes Vinay, in HDFC you can opt for “Standing Instruction facility” to pay your PPF online

  22. praveen says

    Passbook is mandatory for ppf account?

    1. Mohammad Ali says

      No Praveen, Passbook is not mandatory to open PPF account.
      Mohammad Ali recently posted…How to transfer your PPF account to ICICI BankMy Profile

  23. K Karia says

    I had applied for my ppf account precisely in 3rd week of January 2017.
    The only information I am able to get from the bank is my application number PF1702114354

    The account is not yet active inspire of daily false promises from the employee that it would be done by EOD
    It is March end and now I am in trouble.
    Do let me know the status of possible at your end at the earliest now that I am in a position where even other banks might not be in a position to help me out.
    Highly disappointed with the work done by lame excuses that stamp and sign had been forgotten.

    1. K Karia says

      Bank is Kharadi branch Pune

  24. AVINASH GUPTA says

    Payment period in PPF Account is 15 Years. If the account holder dies before completion of 15 years then what will be he status of maturity?

    1. Mohammad Ali says

      Hello Avinash,
      In the event of the PPF account holder death, the balance amount in the PPF account will be paid even before the completion of 15 years to the nominee or legal heir of the deceased person.
      Mohammad Ali recently posted…Simple steps to get your free CIBIL Credit Report onlineMy Profile

  25. Peter says

    hi, if i plan to transfer my ppf account then interest rate during transfer period will be given?

    1. Mohammad Ali says

      Hello Peter, PPF account can be transferred from one post office or authorised bank to another. In such case, the PPF account will be considered as a continuing account and it will transferred.
      Mohammad Ali recently posted…Simple steps to get your free CIBIL Credit Report onlineMy Profile

  26. Rashmita says

    Does HDFC provides the facility of PPF account?
    Is there any difference of opening a ppf account in govt bank and private bank?

    1. Mohammad Ali says

      1. Yes, now you can open PPF account in HDFC bank.
      2. All PPF rules remains same for Govt bank and private banks. PPF investment is backed by Government of India which offers safety with attractive Interest Rate

  27. ANIL THAKAR says

    Can we open PPF Account in the name of Minor?

    1. Mohammad Ali says

      Hi Anil,

      Any guardian can open a PPF account for minor child.

      1. A guardian can be Mother or the father of the minor child
      2. Any Legal guardian like Uncle, aunt, etc. can open a PPF account only in the cases where the parents are not alive.

      1. Ameer says

        How can we get the ppf account statement when we transfer

      2. Mohammad Ali says

        Hello Ameer, you can request for PPF account statement anytime including the time when transfer your PPF account. Most of the banks provides Online facility to check your PPF balance and statement