HDFC PPF Account | Interest Rates and Features of HDFC PPF

Manish Kothari
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Manish Kothari

HDFC PPF Account

Public Provident Fund (PPF) is an excellent investment option for small investors to create long-term wealth by regularly investing a small amount of their money. This investment scheme option is offered by the Central Government, which mainly aims to benefit small savers over the long duration. It is ideal for small savers who want to deposit a portion of their savings at regular intervals in their respective PPF accounts and generate a corpus in the long term.

Features of HDFC PPF

· Attractive Interest Rate of 7.1 %, exempted from tax as per Section 80C.

· Offers long-term investment for 15 years.

· Account can be further extended for next five years or multiples, after the account term's maturity.

· Minimum deposit amount is Rs 500/- and maximum limit is Rs 1,50,000/- in a particular financial year.

· You may transfer your PPF account from other banks / post office to HDFC Bank

· Loan facility and premature withdrawal option also offered.

Documents required to open PPF Account

Following documents must be kept handy for opening up a PPF account: 

· An Identity proof (Voter ID/PAN Card/ Aadhar Card)

· Residence proof (Address proof)

· Passport size photographs

· Pay-in-slips

· Nomination form

Eligibility criteria to open a PPF account

· Resident of India

· Minor with a legal guardian

· No joint PPF accounts allowed.

How to open a PPF account?

Offline mode:

Following are the steps to open a PPF account offline:

· Collect an application form from the nearest post office in your area.

· Fill up the form completely and then submit it along with the required KYC documents and a passport-sized photograph.

· The initial minimum deposit to open a post office PPF account is Rs 500, and the maximum amount allowed on an initial basis is Rs. 70,000. 

· Once all the required documents are submitted along with the initial deposit amount, the applicant will be provided with a passbook for the PPF Account. 

Online mode:

Following are the steps to open a PPF account online:

· First, Sign in to your HDFC Bank Net Banking.

· Under Offers Tab, click on the option ‘Public Provident Fund.’

· Enter and Confirm the details shown in the next screen and enter the initial amount you want to deposit in your PPF account.

· You may choose a nominee and then click submit.

· If your Aadhaar is already linked with your account, your form will be submitted, and you will receive a message of confirmation.

· If your Aadhaar is not linked with your account, you should first link it to complete the process.

Frequently Asked Question (FAQs)

1. What do you understand about PPF accounts?

A Public Provident Fund (PPF) account offers an excellent investment option to small investors for creating long-term wealth, generally by investing a small amount of their money on a regular basis.

2. Is HDFC PPF option safe to invest in?

Since PPF investment scheme is backed by the Government of India, it is considered as one of the safest investment options. HDFC PPF scheme offers an attractive Interest Rate of 7.1 %, exempted from tax as per Section 80C, and is a popular and safer investment option.

3. Is premature withdrawal allowed in HDFC PPF account?

Yes, you may withdraw an amount before maturity of the account tenure. This can be done once you complete 5 years after opening up the account.

4. What is the PPF rate for 2020-2021?

The current PPF interest rate is 7.1% till September 2021.


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