SBI PPF Scheme: There is a scheme in which you can invest for a long period. For information, let us tell you that those who want to get safe returns can invest in this scheme.

You can deposit at least Rs 500 in this scheme. But if you want to invest more than this, then a maximum of Rs 1.5 lakh can be invested every year. You get an annual interest rate of 7.1% on this scheme.

If you are planning to invest in SBI PPF scheme, then this article of ours can be very useful for you. Today we will tell you for how many years you can invest in this savings scheme. Along with this, we will also tell you about the eligibility criteria and necessary documents and starting an account.

What is the scheme

SBI PPF i.e. Public Provident Fund is a scheme which is very beneficial and safe. This investment scheme of State Bank of India has been designed in such a way that you can easily invest in it for a long time. Under the SBI PPF Scheme, you can deposit your money for a long period of 15 years. In this way, this period can be extended in blocks of five years each. Under this, investors also get compound interest of 7.1% every year. This scheme is beneficial for all people because an account can be opened with a minimum of Rs 500. At the same time, you can deposit Rs 1.5 lakh every year in this savings scheme.

Eligibility for SBI PPF Scheme

  • SBI PPF account can only be opened by a resident of India.
  • Any person in the country can open a PPF account in his name.
  • Hindu Undivided Families are not considered eligible to open this account.
  • NRI citizens also cannot open this savings account.
  • Parents or guardians can open this PPF account on behalf of their minor children and under this, only one minor account is allowed for each child.

Required documents

  • Identity card
  • Residence certificate
  • Passport size photo
  • How to open an account under SBI PPF scheme?

Online

  • First of all you have to visit the SBI website.
  • You have to apply online for this scheme on the State Bank of India website.

Offline

  • You have to go to any nearest SBI bank branch.
  • You can take the account opening form from the bank officer and fill it and submit it.