HDFC Bank PPF Account

1. Should be a resident of India. 

1. NRIs are not eligible to open new HDFC Bank PPF accounts. But they can maintain accounts opened before they became NRI. 

Features of HDFC Bank PPF Account

HDFC Bank PPF account offers a wide range of facilities to its holders: 

1. The PPF account by HDFC has a tenure of 15 years which can be extended. 

1. The deposit amount can range from a minimum of Rs.500 to a maximum of Rs.1,50,000 p.a. 

1. The interest rate offered by HDFC Bank PPF is 7.1%  

1. Deposits can be made in up to 12 transactions p.a. 

1. HDFC PPF accounts for minors must be opened via offline mode. 

1. Joint HDFC Bank PPF accounts cannot be opened. 

1. HDFC PPF account also renders loan facilities, partial withdrawal, and extension of account. 

1. Partial withdrawals can be made from the seventh year onwards. 
   

How to open an HDFC Bank PPF account online

HDFC Bank PPF account can be opened online by following simple steps. Some important points to note are: 

1. Net banking should be enabled for your account. 

1. Must have an existing HDFC savings account. 

1. Your account must be linked to your Aadhar. 

1. The mobile number linked to your Aadhar must be active. 

Here's how you can open an HDFC Bank PPF account online: 

Step 1: Sign in to HDFC Net Banking. 

Step 2: Click on ‘Public Provident Fund’ under the offers tab. 

Step 3: Confirm the details and enter the amount you want to deposit. 

Step 4: Add a nominee if you wish. 

Step 5: Submit your application and your account will be activated in one day.  

How to open an HDFC Bank PPF account offline

You can open an HDFC PPF account online by following the steps given below: 

Step 1: Visit the nearest HDFC Bank branch. 

Step 2: Fill out the application form and submit it with self-attested copies of Aadhaar, PAN, Voters ID, and photos. 

Step 3: Make the initial deposit.

Step 4: Upon finishing activation, your HDFC Bank PPF passbook will be provided.

HDFC PPF Interest Rate

HDFC Bank PPF offers an interest rate of 7.1% p.a. This interest amount is completely tax free as per section 80C under the Income Tax Act. The account holders can save tax amounts up to Rs.500 to Rs.1,50,000 in a year. 

HDFC Bank PPF Account Extension

An HDFC Bank PPF can be extended after the completion of the tenure period of 15 years. There are no restrictions on the number of times an account can be extended. 

1. Extensions can be done in a block of 5 years with or without making additional deposits.

1. To extend, a request must be made within one year after the account matures.

1. The PPF account continues to generate interest during the extension period.
   
   

HDFC Bank PPF Account Loan Facility

An HDFC Bank PPF account holder can avail loan against the balance in their account under certain terms and conditions:

1. You can apply for one loan in a year.

1. The repayment time limit is 3 years.

1. The HDFC Bank PPF loan facility can be used between the third and sixth years.

1.  The maximum loan amount would be up to 25% of the account balance of the second year.

1. The interest rate on the loan is 1% above the applicable PPF interest rate.