PPF account in SBI: 6 simple steps to open Public Provident Account in SBI using YONO App

Authored by , ET Online | Nov 27, 2024, 05:45:12 PM IST

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Opening a PPF account in SBI Individuals can use the SBI YONO App to open a PPF account in their names. The deposit in the account can be made in the account in one lump sum or instalments, during a year. Interest is credited to the account on 31st March every year (calculated on the minimum balance between the close of the fifth day and the end of the month).

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Step 1: Login SBI YONO app Download the YONO App. Log in to the YONO App navigate to ‘My investments’ and apply for a new PPF account by clicking ‘Open PPF account’.

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Step 2: Verify details and select the branch View features and verify details. Select Home Branch/Other Branch to open a PPF Account. By default CIF home branch will be shown, however, the customer will have the option to select another branch using GPS or entering the location/branch code.

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Step 3: Add nominee Fill in nominee details (maximum four nominees allowed).

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Step 4: Standing instruction Set up monthly standing instructions for credits from YONO transaction accounts (optional).

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Step 5: Registered mobile number Review and confirm all the data entered and accept the terms and conditions by entering the OTP sent on the registered mobile number in Bank records.

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Step 6: Make contributions PPF account is generated and the first contribution

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PPF account in SBI: 6 simple steps to open Public Provident Account in SBI using YONO App

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