You can open a PPF account in India by following these steps:
- Choose a designated bank or post office: PPF accounts can be opened at any designated bank or post office in India. You can choose a bank or post office that is convenient for you.
- Fill out the account opening form: You will need to fill out the account opening form for a PPF account, which is available at the designated bank or post office. The form will require you to provide personal information such as your name, address, and contact details.
- Submit identity and address proof: You will need to submit proof of identity and address such as Aadhaar card, PAN card, passport, voter ID card, or driving license.
- Deposit the minimum amount: You will need to deposit a minimum amount of Rs. 100 to open a PPF account. The maximum amount that can be deposited in a financial year is Rs. 1.5 lakh.
- Collect the passbook and receipt: Once your PPF account is opened, you will be issued a passbook and a receipt for the deposit made. You can use the passbook to keep track of your deposits and interest earned.
It is important to note that only one PPF account can be opened in an individual’s name. However, a parent or guardian can open a PPF account for a minor child. The account will be operated by the parent or guardian on behalf of the minor until the child turns 18 years old.