List of Banks authorised for PPF Account

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In my last post, I explained the features & benefits of PPF Account. Read More

In the past you could have open PPF Account with Post office or State Bank of India or few other PSU banks. But now, there are may banks which are authorised to open PPF account.

So ,  you can open or transfer PPF account to your nearest bank.

Note that only designated branches of these banks are authorised to open PPF Account ( not all branches), so it is better to check with the Branch first.

List of Banks offering PPF Account

Canara Bank PPF Account
https://www.canarabank.com/english/scripts/ppf.aspx
SBI PPF Account
https://www.sbi.co.in/user.htm
UCO Bank PPF Account
https://www.ucobank.com/other-services/ppf-schemes.aspx
PNB PPF Account
https://www.pnbindia.in/en/ui/content.aspx?id=1158
Bank of Baroda PPF Account
https://www.bankofbaroda.com/pfs/govtbonds.asp
IDBI PF Account
https://www.idbi.com/gbg-ppf.asp
Bank of India PPF Account
https://www.bankofindia.co.in/html/Viewing_PPF_Account/index.html
Union Bank PPF Account
https://www.unionbankofindia.co.in/personal_govt_ppfund.aspx
Central Bank PPF Account
https://www.centralbankofindia.co.in/site/MainSite.aspx?status=2&menu_id=183
Indian Overseas Bank PPF Account
https://www.iob.in/Public_Provident_Scheme.aspx
Allahabad Bank PPF Account
https://www.allahabadbank.in/pdf/PPF%20Account%20Opening%20FORM%20A.pdf
Corporation Bank PPF Account
https://www.corpbank.com/node/62163
Syndicate bank PPF Account
https://www.syndicatebank.in/Scripts/otherproductsandservices.aspx
Andhra bank PPF Account
https://andhrabank.in/english/PPFSchemes.aspx
Dena Bank PPF Account
https://www.denabank.com/viewsection.jsp?lang=0&id=0,9,513
United bank PPF Account
https://www.unitedbankofindia.com/english/PPF.aspx
Vijaya Bank PPF Account
https://www.vijayabank.com/KYC-RTI/Public-Provident-Fund
Bank of Maharashtra PPF Account
https://www.bankofmaharashtra.in/downloads.asp
State bank of Travancore PPF Account
https://statebankoftravancore.com/ppf.htm
State bank of Bikaner & Jaipur PPF Account
https://www.sbbjbank.com/We-offer/Government-Business1.htm
State bank of Mysore PPF Account
https://www.statebankofmysore.co.in/deposits/242.html
   
ICICI Bank PPF Account
https://www.icicibank.com/Personal-Banking/investments/ppf/ppf.html
Axis bank PPF Account
https://www.axisbank.com/personal/investments/public-provident-fund/features-benefits.aspx
HDFC Bank PPF Account
Now authorised –  https://www.hdfcbank.com/personal/products/investments/public-provident-fund

If you have any query related to PPF account, feel free to use comments box below to raise your queries.

68 Replies to “List of Banks authorised for PPF Account”

    1. Normally you should be able to transfer funds online to your PPF Account in other banks. But some banks have old format PPF account and donot accept online payment for PPF. Please check your PPF number (whether in long format ) & also with your bank .

    1. yes you can transfer PPF account from 1 bank to another. In which bank you have PPF currently and which bank you want it to be transferred.

      Normally you need to submit the form at existing bank branch with original PPF passbook. keep a copy of passbook for your records.
      Also, check with the bank branch where you get it transferred.

      Then your current bank will send the cheque to your new bank.

  1. Do we need to have savings account in the same bank where PPF account is? I mean I have savings account in HDFC, so I can open just PPF account in SBI?

    1. it is not necessary to have Saving account in Bank where you want to open PPF. however, many banks insist on having a saving bank when you open a PPF.

  2. Hii…I have my savings a/c in BOB.. Now i am planning to open PPF a/c..
    Can you please suggest in which bank i should open ppf a/c..BOB or SBI ?
    Which bank is going to offer better Interest rate or better facilities …

    1. PPF interest rate is same for every bank as it is fixed by government.
      If you already have Savings with BOB, you can open PPF in BOB itself.

  3. I have a PPF Account at SBI, more than 15 years old.

    Is it possible to close that account and open a new one at another bank?

    Thanks & Regards,
    Deepak K Mehta

    1. Hi Deepak,
      whether you can close the existing PPF account depends on the duration of the PPF and whether you are contributing even after 15 years?

      Pls see the extension & withdrawal clause in post below
      https://wealth18.com/public-provident-fund-scheme-ppf-account-features-tax-benefits/

      Unless you close the existing one, you cannot open a new one.

      Also, not sure why you want to open a new one as it will be again for 15 years duration. If you wish you can contribute to existing one.

  4. Hi Vivek,

    I am an NRI. My parents live in India. We would like to open an ppf account for my son who will turn 1 this May. I learnt that we are not eligible to open an ppf account. Can I do it through my parents? So, if I open an account in my dads name ( who will turn 60 this october), can I be a nominee? Also, is there any special rate of interest for Senior citizens?
    Some websites talk about 30% tax ruling with ppf accout too. What does this mean?
    Last question, i am planning to invest 1,00,000 ( i guess thats the maximum, or is it 1,50,000?) p.a. So, if my calculations are right, my amount on maturity after 15 yrs will be 30,25,165. Am I right? and no tax.

    Thanks in advance!

    1. Your parent can open a PPF account, but it may be bit hassle to claim as a nominee after them.

      PPF account is tax free. Interest is tax free, maturity is tax free.

      Maximum amount that can be invested is Rs 1.50 lakhs

      The interest on PPF account is declared every year. see past years interest rate
      https://wealth18.com/public-provident-fund-scheme-ppf-account-features-tax-benefits/

      If you invest Rs 1.5 lakh every year for 15 years, assuming the interest rate at 8.5%, the maturity amount will be approx Rs 45 lakhs ( but the interest rate can change in future)

  5. Hi Vivek,

    i just want to know is there any kind of charges to open PPF account or we can open account in any Authorised bank free of cost.

    Regards
    Umesh Salvi

  6. i have salary account in bank of maharashtra vikroli Branch and i stay at dahisar
    i want to open PPF Account in Bank of maharashtra
    so please tell me which Branch Have PPF Account

    1. Hi Heena, In Mumbai, bank of maharashtra has PPF account option in following branches

      37 MUMBAI CITY FORT MUMBAI 0230004 2
      38 MUMBAI CITY THAKURDWAR 0230027 161
      39 MUMBAI CITY SHIVAJI PARK 0230302 302
      40 MUMBAI SUBURB BORIVALI WEST 0230008 92

  7. hi,
    my PPF account with PNB and i have not used it since 2013, can i use same for regular deposit?
    regards
    ravindra

    1. You can deposit money in same PPF account. As you have not used it for few years,you need to deposit rs 500 minimum investment for each year as well as Rs 50 penalty for each year.

  8. Hi Vivek,

    Nice to see that you have answered everyone’s queries..
    Well I want to ask whether ever HDFC will also get authorised for PPF account as I have my account in HDFC Bank, as going to Post office takes atleast 2 hours for even a minor work..
    So would like to do it online.

    Thanks..

  9. Hello Vivek what a nice blog that give nice information of authorised banks for PPF account. Open and transfer of the account. Thanks for the information. Keep it up.

    1. No. You can apply PPF online at ICICI bank but then you need to visit bank to submit the form and required documents.

  10. Hello sir
    I want to open ppf acc in pnb as I have saving acc there but came to know that this bank does not give online facility to deposite amt in ppf acc…may be within six month I will be shifted to dubai so it will not be possible for me to deposite amt in ppf acc personally. Please suggest me which bank I should choose to open ppf acc so that I can transfer money online in my ppf acc directly without visiting?.
    Thanx

        1. Hi Gurjeet, Large Private banks should be considered as safe as well. Also, the money for PPF is remitted to government of India, so even if the bank fails, the money will be paid by government.

  11. Dear Sir
    Are we want online payment transfer to PPF acount . & Private bank are safe open for PPF account , PPF account on withdraw the payment minun year & Maxium.& which type of interest calucate on PPF account

    1. Hi Rakesh, please explain your query. Have you already opened PPF account or considering to open in private bank?

  12. Hi,
    I’m having accounts in Indian bank and citi bank ,
    But PPF option is not available,
    Can I open ppf account alone in SBI/ICICI?

    1. You are correct – Indian bank and Citibank are not authorized for PPF. However, you can open PPF at other banks listed in the post above.
      Normally as part of opening PPF account, they also require opening a Saving account as well.

  13. hi,
    i have a saving a/c. in sbi in Karnataka State . Can I open a PPF account in any branch of sbi in Odisha state using the sbi online ppf account facility ?

    1. Hi Ram, Online Opening PPF account is not possible. You need to submit the form and required documents at the relevant SBI branch.
      Once it is opened, it can be linked to your saving account.

  14. Hi,

    I have salaried saving account in ICICI bank, and they supports PPF account so can I open PPF account in ICICI bank ?
    and if suppose i will not be able to use my ICICI bank account then will it affect my PPF account ?

    1. Hi Ajay, Yes you can open PPF account in ICICI. the bank requires to have Saving account for the PPF account as the maturity will go to that saving account.

  15. Hi, I am Paras, I have a PPF account in ICICI bank and having more than 3 years. Now I want to take loan against my PPF account, I have visited some local ICICI branches but they don’t know the process of loan. I am in MP and my PPF account is of Chandigarh branch and I am unable to visit Chandigarh now. Please help me to sort out the issue as loan is required on urgent basis.
    Thanks

  16. Hi Vivek,

    Many thanks for helping people like me with this blog on personal finance. My query is below:

    I had PPF account with SBI, but I want to transfer it to either ICICI/HDFC. I also contacted SBI for the same. Initially they they can not transfer and no such facility is available. I shown them the PPF act and transfer visibility. But again they are not sure about the, on whose name the cheque need to be prepared. The cheque should be prepared on the contributor name right(
    In this case my name).

    1. Hi, The list of banks are given in the post above. You can check the links provided for each bank to check the branches that offer PPF facility.

    1. Hi, The features is the same irrespective of the bank. You can choose your nearest branch – whether it is SBI / BOB.

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