As you asking here I am telling State Bank of Bikaner and Jaipur (SBBJ) Public Provident Fund (PPF) account offer an excellent medium to mobilize your savings into an interest-generating account that also helps you save on income tax.

Eligibility:
State Bank of Bikaner and Jaipur PPF account is available only to resident Indians (not available to NRIs) who are over the age of 18. Guardians can open accounts for minors and Hindu Undivided Families (HUF) and an association of persons.

Features and Benefits
Loans: You can avail a loan against your PPF deposit account
Premature withdrawals: Amounts from the account can be withdrawn prematurely,
Tax benefits: Funds in the account and interest earned thereon qualify for tax deductions under Section 80C of the Income Tax Act, 1961
Account deactivation and reactivation
PPF interest rate 8.7%

Process to open a State Bank of Bikaner and Jaipur PPF account
Obtain and fill out the following forms with all relevant details:

Account opening form (PPF Form A).
Pay-In Slip (PPF Form B).
Nomination Form (PPF Form E).

All these forms are available from any of the State Bank of Bikaner and Jaipur branches.

Submit the forms, along with all required documents to the bank.


Documents required
Identity proof – A copy with a verifiable original of a photo ID proof - either driver’s license, PAN card, passport, etc.
Address proof – a copy with a verifiable original of an address proof - either telephone bill, utilities bill, ownership papers, etc.
Passport sized photographs.