PPF is best tax saving instrument. It is ideal for long-term investments and availing tax benefit year on year. Earlier we have discussed about PPF account in SBI. Today I will share information about PPF account in ICICI.
PPF Account in ICICI Bank Online
ICICI bank is first private sector bank to offer PPF account in India. Opening PPF account in ICICI bank is easy and stress- free.
If you are existing customer of ICCI bank you can avail online facility for opening PPF account.
Steps to open online PPF Account in ICICI Bank
- Visit ICICI Bank website and login using your net banking id.
- Once you are logged in you will find PPF account tab in left sidebar.
- Once you click on this tab you will be redirected to new page where you will find link to “Apply for a PPF Account”. (Refer Screenshot given below)
- Once you click on Apply for PPF Account it will ask you basic details like address, initial deposit amount, mobile number, email id etc. After filling up this detail you will be able to download this application form.
- Take a print out of this pre-printed form, affix your photograph and sign on the form.
- Submit this application form and nomination form to any designated branch of ICICI bank authorized to open PPF account.
You can find list of ICICI bank authorized to open PPF account from here.
If you are not existing customer of ICICI you can download Form A for opening PPF account here.
Documents required for opening PPF account in ICICI Bank
ICICI bank do not offer Passbook Facility by default. In case you require passbook facility you can avail this facility by submitting application at bank.
PPF Account with ICICI Bank offers following advantage:
- Transfer funds online to PPF Account from linked Savings Bank Account.
- Standing instruction to ensure systematic savings.
- View all PPF transaction and PPF account statement online.
- 8.7% interest rate with a minimum deposit of Rs. 500 per annum.
Have you opened PPF account with ICICI bank? How is your experience with ICICI bank?