PPF Account

17ysaurabh

KF Mentor
Hi @hitirfan
The PPF account of any bank gives the same interest i.e. 7.1% as of now.

I have been using an HDFC bank PPF account. Whenever I have to transfer money from my savings account to a PPF account, I need to use net banking as there is no such option in mobile banking. So, not happy with this.
I suggest you check SBI, ICICI or Axis Bank.
 

hitirfan

KF Expert
Hi @hitirfan
The PPF account of any bank gives the same interest i.e. 7.1% as of now.

I have been using an HDFC bank PPF account. Whenever I have to transfer money from my savings account to a PPF account, I need to use net banking as there is no such option in mobile banking. So, not happy with this.
I suggest you check SBI, ICICI or Axis Bank.
Okay. Thank you.
 

Ankit Dwivedi

KF Rookie
Although the interest rate on PPF is the same across all banks (fluctuating between 7 to 8%), your choice might depend on other factors. If you prioritize digital banking and prefer less physical branch interaction, HDFC or ICICI could be ideal. However, if you value a vast network and reliable services, SBI would be a better option. Thank you :D
 

hitirfan

KF Expert
Although the interest rate on PPF is the same across all banks (fluctuating between 7 to 8%), your choice might depend on other factors. If you prioritize digital banking and prefer less physical branch interaction, HDFC or ICICI could be ideal. However, if you value a vast network and reliable services, SBI would be a better option. Thank you :D
Do I need to opening Savings account in such banks first then apply for PPF?
 

Ankit Dwivedi

KF Rookie
No, you don't need to have a savings account with a bank to open a PPF a/c. However, having a savings a/c with the bank can simplify the process and make it easier to manage and transfer funds to your PPF account.
 
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