The Public Provident Fund (PPF) is a long-term savings scheme, which will also offer tax exemption on both Principal and interest.
By investing in PPF with Axis Bank, you can invest with minimal risk, enjoy high interest rates, avail tax benefits, access your investments online and enjoy loan facilities, apart from partial withdrawals, if required.
Any resident individual can apply for a PPF on his own behalf or on behalf of a minor for whom he is the guardian. However, joint PPFs are not allowed with Axis Bank. Non-resident Indians (NRIs) are also not eligible to open an account under the PPF scheme.
An individual can open only one PPF account, and can declare the same during account opening.
Documents required for opening PPF Account
- Address Proof
- Form A along with completed application
- Identity Proof
- Birth Certificate (in case of minor and senior citizens)
- Two passport size photographs
To open PPF Account online
- There is no option to completely open PPF Account online. But, you can download the Form A, along with required KYC (Know Your Customer) documents by visiting the bank website https://www.axisbank.com and accessing the link https://www.axisbank.com/docs/default-source/default-document-library/form-a-aof-1.pdf?sfvrsn=c06cf055_4.
- Download the Form A, and submit the completed application form, along with your identity proof, address proof, passport size photos and birth certificate at your nearest axis bank branch.
- After verifying your details, your PPF Account will be opened. To make initial subscription you can do so during opening of your account.
- Else, you can also subscribe by visiting the link https://www.axisbank.com/retail/investment/public-provident-fund-ppf/how-to-apply and click on the button ‘Apply Now’.
To open PPF Account offline
- Visit your nearest Axis bank branch.
- Collect the application form for opening the PPF Account, along with Form A from the bank and fill in the requisite details.
- Along with the application form, submit all the other documents required such as 2 passport photos, ID and Address Proof, birth certificate.
- After the bank authorities open the account, you can make your initial subscription.