Public Provident Fund Scheme Introduced by the National Savings Organization in 1968 to mobilize small savings.

The Scheme offers an investment avenue with decent returns coupled with income tax benefits.

Eligibility :

Individuals in their own name as well as on behalf of a minor can open the account at any Branch. As per extant instructions, opening of PPF accounts in the name of Hindu Undivided Family is not permitted.

Duration Of Scheme
Original duration is 15 years.

Rate Of Interest

8.70% per annum

Interest will be paid on 31st March every year.

Interest is calculated on the minimum balance between 5th day and end of the month.

Tax Benefits

Income Tax benefits are available under Sec 88 of IT Act.
Interest income is totally exempt from Income Tax.
Amount outstanding to the credit is fully exempted from Wealth Tax also.

Documents Required to open SBI PPF Account

Duly filled PPF account opening form
Proof of identity. For example, driving license, PAN card, passport, voter’s id
Proof of residence or current address proof
Couple of passport size photographs



Public Provident Fund Application form