To extend the PPF account in sbi you have two ways. You can extend your PPF account easily and safely. And we will discuss what is PPF and how to open the account in sbi.
We will learn the step-by-step procedures on how to extend your PPF account in sbi online. I will discuss extending the PPF account with pictures so you can easily navigate through this challenge. Let’s jump into the Procedure.
What is a PPF account?
It is a good scheme and we call it has Public Provident Fund (PPF). It is the most popular know as long-term saving and investment. It like a product where we can buy and sell this product at any time and anywhere so it is literally known as a saving and investment long-term scheme.
It is mainly due to the safety scheme that has taken as a popular long-term scheme. It has three types of combinations that will useful to people.
- tax saving.
To extend PPF account in sbi online.
Actually, When you open a new PPF account you automatically opened it for 15 years. But many people worry about visiting the branch so they want to extend their PPF account through sbi online portal. You will get step by step process and you can extend your PPF account in sbi online portal.
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Steps to extend your PPF account in sbi online
Step 1: Log in to the official website onlinesbi.com
Step 2: Enter your details what is required username and password easily.
Step 3: Go to the Requests and Enquiries option and click on the More option
Step 5: click on the e-paper PPF and check you truly ended your PPF account.
Step 5: Visit your Completed PPF account and you will see that Extend the PPF account or Renewal the PPF account in your PPF account click on that you will Extend Your PPF account again for 5 years.
What happens if you extend your PPF account for 5 years?
Nothing to worry about the extending of your new PPF account and You will get interested and also you will get tax-saving benefits also. And under section 80c with a new contribution or fresh contribution form b is needed to submit to your bank for 5 years valid and you can be safe of your extending PPF account.
But if you extend your PPF for 5 years there will be only partial withdrawal and you can withdraw the amount once only and the amount must be withdrawn only 60 percent of your PPF balance.
With no contribution, you no need to submit any form and no need to send any form through the post office and you will get interested in your PPF balance. and you can withdraw the amount only once a year.