Opening PPF Account-Closing PPF Account 2022 via Post Office Internet Banking
Describe the PPF account.
One of the most well-liked long-term investment options for consumers with minimal risk, returns, and tax advantages is the Public Provident Fund (PPF) account. A corpus for retirement is built by investors using the PPF by making monthly contributions over a long period of time (PPF has a 15-year maturity, and the facility to extend the tenure).
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Process for opening PPF account using Post Office Internet Banking
- In order to access the DoP e-banking system, enter your ID and password.
- Select the General Services Tab to see the Service Requests page. Choosing New Requests.
- Click the Open a PPF Account option after selecting PPF Accounts.
- Complete the required fields.
- The minimum and maximum deposits are 500 and 1.5 lakh rupees, respectively.
- The POSB account linked to your internet banking account should be selected.
- Accept the terms and conditions at this time.
- After entering the password, hit submit.
- After a transaction is completed successfully, you can view or download the receipt.
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Process for closing PPF Account using Post Office Internet Banking
- In order to access the DoP e-banking system, enter your ID and password.
- From the General Services page, choose service request, followed by new request.
- Select Closure of PPF Account.
- Choose the SB account that should receive the funds and the PPF account that needs to be terminated. To submit, click the button.
- After providing the transaction password, submit the application.
- For future reference, see or save the transaction receipt.
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