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Opening A Post Office PPF Account Made Easy: A Step-By-Step Guide

Opening A Post Office PPF Account Made Easy: A Step-By-Step Guide


Published on 2024-11-29 18:30:40 - Bill Williamson, WOPRAI
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  • The PPF aims to foster a habit of disciplined savings among individuals by providing a secure and rewarding investment avenue

The article from ABP Live outlines a step-by-step guide for opening a Public Provident Fund (PPF) account at a post office in India. It explains that a PPF account can be opened by any Indian citizen, offering tax benefits under Section 80C of the Income Tax Act, with a minimum annual deposit of Rs 500 and a maximum of Rs 1.5 lakh. The process involves filling out Form A, submitting identity and address proofs like Aadhaar, PAN, or passport, and providing photographs. The account can be opened at any post office, with the option to do so online through the Department of Post's e-banking portal or DOP Internet Banking. The article also mentions that the account matures after 15 years but can be extended in blocks of 5 years, and it provides details on how to make deposits, the interest rate, and the benefits of investing in a PPF.

Read the Full abp LIVE Article at:
[ https://news.abplive.com/business/personal-finance/opening-a-post-office-ppf-account-made-easy-a-step-by-step-guide-1734566 ]
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