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Which bank is best for PPF account in India?

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Which bank is best for PPF account in India?

State Bank of India (SBI), which is the largest bank in the country, offers the PPF scheme with a good interest rate. SBI has over 15,000 branches in India, therefore, getting access to the scheme is easy. Opening of the PPF account offered by SBI can also be done online.

Which is best for PPF SBI or post office?

Some schemes of the post office are far better, when it comes to tax savings and returns. Take the case of the PPF. The interest is exempt from tax, apart from this one also gets tax benefits under Sec 80C. However, when it comes to interest rates and safety, post offices are better placed.

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Is it safe to open PPF with any bank?

PPF account is safe in whichever bank you open it. As you might know it is a long term tax saver investment plan backed by Govt of India. The funds deposited in the scheme are transferred to Govt almost immediately. Banks act as agents for mobilizing this business on behalf of GOVT.

Which banks have PPF facility?

The participating banks that offer a PPF account are given below.

  • Bank of Baroda.
  • HDFC Bank.
  • ICICI Bank.
  • Axis Bank.
  • Kotak Mahindra Bank.
  • State Bank of India.
  • Bank of India.
  • Union Bank of India.

Is PPF available in Indian bank?

Indian Bank PPF Account offers Indian citizens to make contributions under its Public Provident Fund scheme. This scheme is a type of low-risk long term investment and provides tax-saving benefits. This Scheme is operational in all branches of Indian Bank with a lock-in period of 15 years.

Is HDFC bank safe for PPF?

Yes, it is completely safe to open your PPF account in HDFC bank.

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Which is best for PPF account bank or post office?

Whether a PPF account is opened in a bank or post office, the scheme features remain the same. Hence, opening a PPF account in both ways is safe and convenient. One should also consider that just like banks, post offices also offer online facilities to access PPF accounts and other government savings schemes.

Does HDFC Bank have PPF account?

If you are an HDFC customer, you can open a PPF Account online anytime, 24X7. The process is instant and paperless. You must be an HDFC Bank Savings Account holder. You must have NetBanking / MobileBanking banking enabled for your account.