You can save tax up to Rs 1.50 lakh by opening PPF and Sukanya Samriddhi account online in SBI.
SBI allows customers to open PPF accounts online.
Public Provident Fund (Public Provident Fund) Ltd. is one of the risk-free investment options that gives average returns above inflation. PPF ,PPF) The account also gets tax exemption under EEE (Exempt-Exempt-Exempt) category. This means that the returns, maturity amount and the total interest earned during the tenure of the investment are tax-free. At present, the interest rate of 7.1 percent is available in the PPF account. PPF accounts can be opened with post offices or authorized commercial banks. The country’s largest government bank State Bank of India (SBI) allows customers to open PPF accounts online. Apart from this, you can also apply for Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana) can also be opened online.
Documents required to open PPF account
Enrollment form, passport size photograph, Permanent Account Number (PAN) card copy, ID proof and residence proof as per KYC norms of the bank will be required to open a PPF account.
How to open PPF account in SBI
>> First of all login to onlinesbi.com. >> Go to ‘Request and Enquirers Tab’ tab and click on ‘New PPF Account’ option. >> Click on ‘Apply for PPF account’ section. >> Enter the branch code from where you want to open the account >> Now fill the nominee details and submit. >> An application number will appear with the message of successful submission. >> Print the account opening form from the tab ‘Print PPF Account Online Application’. >> Visit the bank branch within 30 days with Know Your Customer (KYC) documents and photographs.
Sukanya Samriddhi Yojana (SSY)-
Sukanya Samriddhi Yojana is a small savings scheme supported by the government. SSY accounts can be opened with post offices or authorized commercial banks. State Bank of India (SBI) is one of the banks providing service for opening Sukanya Samriddhi account. At present, 7.6 percent interest is being received in the SSY account.
Some important documents will be required to open SSY account. SSY account opening form, birth certificate of beneficiary, address proof of guardian or parents of beneficiary, ID proof of guardian or parents of beneficiary etc.