Step by Step Guide To Open PPF A/C in State Bank Of India

We discussed about "PPF A/C and its benefits" in my previous post. Now I am going to share “Steps to open PPF A/C in SBI (State Bank Of India)” with all of you as I recently got opened it to avail tax benefit (and after continuous follow up by my mom…. :-)

Step - I

First of all as like any A/C opening procedure, you need to bring “PPF A/C Opening Form” from nearest SBI branch. Click here to locate nearest SBI branch.

You might think why to bring it from branch when it’s available online?
But wait…
If you download that form and go to submit in bank then you will come to know “that is not the correct form (green one) which you suppose to submit as it is incomplete…”

So better visit once and bring that form as you will also require 2 witnesses signature on it.

Step - II

Step II is to fill the form accurately.

Points to note:

• Do not make spelling mistakes in your name (keep it same as all your documents.)
• Do not forget to write your PAN number (near to Photo).
• Paste 2 photographs, one on main form (green) and one on specimen signature form.
• Sign the form with all specimen signatures.
• Mention SBI SAVING A/C number (if any) in form.
• Take 2 Witnesses signature (must be other than nominee, it is ok even if they do not have any A/C with SBI.)
• You will require any one of the following documents copy as Identity Proof :
  • PAN Card
  • Driving Licence
  • Voter ID
  • Passport
• You will require any one of the following documents copy as Address Proof :
  • Passport
  • Telephone/Electricity Bill
  • Ration Card
  • SBI Saving A/C Passbook

For me “PAN Card & Ration Card” was the best combination

Step - III

Once you filled and signed the form properly along with the signs of witnesses then it’s time to visit the nearest SBI branch and submit it.
Get your form and documents verified from the bank official and submit it to the same.

Step - IV

After submitting the form next step is to collect the PPF Passbook on the communicated date. :-)

Step - V

This is enduring and very important step of this process, that is to “keep depositing the money in PPF account in each month without forgetting”

If possible link it to your salary or saving a/c as auto debit or ECS because most of us are so busy (?) that we won’t get time to transfer the money to PPF account in each month without forgetting. But make sure you have sufficient funds available in your bank account on the date when the auto-debit or ECS is going to happen else you might get charged for failed transaction by your bank.