I read in online blogs that we can take PPF in SBI or in post office. Are there any other options apart from these two? Which should we prefer.? and Why? Also do we need an SBI account for opening PPF account?
REGARDS.
2 Answers
Public provident fund account can be opened in any branch of State Bank of India and its subsidiaries, or in a post office.
There are not other options apart from these two.
You should open account in SBI. As SBI is a bank its easier to deal with it and use its deposit services. In case of PPF transfer to other branches too, its easier in SBI.
Also, We would advise you to deposit your all contributions through a PPF agent as they give some percentage of their commission back to you.
There is no need to open a savings bank account in SBI for opening PPF account. Some of the branches may push you to open one, but there is no such rule.
PPF account can also be opened some other banks also like ICICI, PNB. http://www.icicibank.com/Personal-Banking/investments/ppf/faqs.html
PPF account can also be opened some other banks also like ICICI, PNB. http://www.icicibank.com/Personal-Banking/investments/ppf/faqs.html
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