Open a PPF Account Through YONO SBI: Enjoy Tax Savings and Guaranteed Returns with Zero Risk

Are you looking for a secure and tax-efficient way to build long-term savings? The Public Provident Fund (PPF) is one of the most reliable investment options in India—perfect for individuals who want guaranteed returns without the risks associated with the stock market.

In this article, we’ll walk you through everything you need to know about the PPF scheme, its tax benefits, how to open an account using YONO SBI, and why this government-backed plan is ideal for creating long-term wealth.

What is the Public Provident Fund (PPF)?

The PPF scheme is a long-term savings initiative launched by the Government of India. It is designed for individuals who seek a safe and stable investment option with tax-saving benefits. You can invest as little as ₹500 per year or as much as ₹1.5 lakh annually, depending on your capacity.

Here’s the best part: Your contributions to the PPF are eligible for a tax deduction under Section 80C of the Income Tax Act. This means you can claim up to ₹1.5 lakh per year as a deduction, effectively lowering your tax burden while growing your savings.

Top Benefits of Opening a PPF Account

Tax-Free Interest: The interest you earn on your PPF deposit is completely exempt from income tax, unlike many other investments.

Guaranteed Returns: PPF offers a fixed return—currently at 7.1% per annum—revised quarterly by the Ministry of Finance.

Risk-Free Investment: Since it's not linked to market volatility, it is a great option for conservative investors.

Long-Term Growth: The lock-in period of 15 years ensures disciplined saving. The account can also be extended in 5-year blocks after maturity.

Portfolio Diversification: Ideal for balancing riskier investments like mutual funds or equities.

How to Open a PPF Account Easily via YONO SBI

With digital banking, opening a PPF account has never been easier. SBI’s YONO app allows you to open a PPF account online, eliminating the need to visit a branch.

Here’s how:

• Log in to your YONO SBI account

• Go to “Investments”

• Select “Open PPF Account”

• Fill in the required details and upload documents

• Confirm the deposit amount and submit the form

Your account will be created digitally, and you can manage deposits, track interest, and even extend the account—all from your phone.

Required Documents to Open a PPF Account

Whether you're applying through YONO or at a physical branch/post office, you’ll need the following documents:

• Filled PPF account opening form

• Identity proof (Aadhaar card, PAN card, voter ID, or driver’s license)

• Proof of address

• Passport-size photograph

• Nominee declaration (optional but recommended)

You’re allowed only one PPF account per individual, and it must be in a single name—joint accounts are not permitted.

What You Should Know About PPF Tenure & Extension

The PPF account has a 15-year lock-in period, which may seem long, but it ensures consistent savings. After the initial term, you can extend the account in 5-year blocks indefinitely. Extensions are allowed only at the time of maturity, and they help you achieve bigger long-term goals like retirement, children’s education, or buying a home.

Final Thoughts

The Public Provident Fund is a smart, stable, and government-guaranteed option to grow your wealth while saving on taxes. If you’re looking to build a financially secure future, PPF is a must-have in your investment portfolio.

Thanks to platforms like YONO SBI, opening a PPF account is quick, paperless, and hassle-free. Start small, stay consistent, and let the power of compounding work for you—tax-free and risk-free.