HDFC PPF Account - How to Open a PPF Account, Eligibility and Withdrawal

A PPF (Public Provident Fund) account is one of the most popular and trusted long‑term saving instruments in India offering risk‑free returns, tax benefits, and the option to build a substantial retirement or long‑term corpus. If you are banking with HDFC Bank, opening a PPF account is straightforward whether online or offline and gives you the full benefits of PPF under a regulated and user-friendly bank platform.

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What is HDFC PPF Account

• An HDFC PPF account simply means holding your PPF under the aegis of HDFC Bank, instead of a post office or another bank. HDFC Bank acts as an authorized agent for PPF offering all standard PPF features: tax‑free interest, long lock‑in, withdrawal and loan facilities, and online convenience.
• If you are an existing HDFC savings account customer with net banking or mobile banking, you can open a PPF account online via HDFC’s secure digital portal.
• For those who prefer traditional modes, you can also open PPF offline by visiting an HDFC Bank branch, submitting KYC documents, and making the initial deposit.

HDFC bundles convenience, reliability, and full compliance with government‑mandated PPF rules making it a convenient option for both first‑time and seasoned investors.

Who is Eligible: Eligibility Criteria for HDFC PPF

To open a PPF account with HDFC (or anywhere in India), you must satisfy:

• You must be a resident Indian (non‑residents / NRIs cannot open new PPF accounts).
• You can open the account in your name, or if eligible as a guardian on behalf of a minor child.
• Only one PPF account per individual is allowed (across all banks/post offices).
• Joint PPF accounts are not permitted.

If you satisfy the above you are immediately eligible to open and start contributing to PPF via HDFC Bank.

How to Open HDFC PPF Account: Step by Step

Online (Recommended for HDFC Customers)

1. Log in to your HDFC NetBanking or mobile-banking portal.
2. Go to the “Offers” tab (or equivalent) and select “Public Provident Fund” / “PPF Accounts”.
3. Choose “Apply Now.” The portal typically auto‑populates your KYC details (PAN, address, etc.).
4. Enter the amount you wish to deposit (min. ₹ 500).
5. Optionally add nominee details.
6. If your Aadhaar is already linked with HDFC and your registered mobile number is active (for OTP), you can e‑sign via OTP and submit.
7. Once submitted, the account is typically activated within a working day you’ll get confirmation, and can begin contributions from your savings account.

Offline (Branch Visit)

1. Visit your nearest HDFC Bank branch. Request a PPF Account Opening Form.
2. Fill the form, attach self‑attested KYC documents (identity proof, address proof), passport‑size photographs, and nomination form.
3. Make the initial deposit (minimum ₹ 500).
4. Submit the form on approval you’ll receive a PPF passbook, containing account number, IFSC/branch details, and other relevant information.

Once your account is active, you can make deposits by cheque/NEFT/online transfer, or set up standing instructions and track your account via net banking.

Deposit Rules, Interest & Investment Limits

As per PPF scheme rules (as followed by HDFC PPF account):

• Minimum deposit per financial year: ₹ 500.
• Maximum eligible deposit per financial year: ₹ 1,50,000 this cap ensures tax benefits and interest accrual remain within government limits.
• Deposits can be made in one lump sum or in multiple instalments (up to 12 per year).
• The senior citizens/adult depositor and minor‑account (if any) combined deposits count toward the ₹ 1.5 lakh limit.

PPF remains a “safe, fixed‑income + tax‑efficient” saving instrument offering interest and tax benefits guaranteed under government regulation.

Withdrawal, Loan & Maturity: What Happens and When

One of the strengths of PPF is the flexibility it offers, even with its long-term horizon. HDFC’s PPF account supports all standard PPF withdrawal / loan / maturity rules.

Loan Facility

• If you need funds temporarily, you can avail a loan against your PPF balance only between 3rd to 6th financial year of the account.
• The loan amount is limited to 25% of the balance at the end of 2nd year preceding the year of loan application.
• One loan per financial year is permitted repayment period is up to 36 months. A default attracts interest at a higher rate.

Partial Withdrawal

• Partial withdrawals are allowed but only from 7th financial year onward, and subject to conditions/rules set under the PPF scheme.
• Typically, withdrawals should respect limits (like percentage of balance or number of times per year) as defined by the PPF rules.

Maturity & Extension

• Standard maturity period: 15 years from the end of the year of account opening.
• On maturity, you have choices: withdraw the entire corpus (principal + interest), or extend the PPF account in blocks of 5 years, with or without fresh deposits.
• During the extension, the account continues to earn interest, and deposits are optional.

Tax Benefits, Safety & Long-Term Growth

• PPF offers guaranteed, government‑backed interest and returns.
• Principal deposit qualifies for tax deduction under Section 80C, subject to overall 80C limit. (Standard for PPF applies irrespective of bank.)
• Interest earned and maturity proceeds are tax‑free (subject to prevailing tax law) a key advantage over many investment instruments.

What’s Special about Using HDFC Bank for PPF

Using HDFC Bank to hold your PPF account adds convenience and digital ease:

• Option to open PPF entirely online (via NetBanking) no need to physically visit a branch if Aadhaar is linked.
• Seamless integration with savings account automatic debit, easy transfer from savings to PPF, standing instructions possible.
• Online account statement, passbook access, transaction history easier to track contributions and interest growth digitally.
• Transfer facility: If you have a PPF account from another bank or post‑office, HDFC allows transfer of PPF account without breaking the continuity of holdings.

Thus, for someone already banking with HDFC, PPF becomes almost frictionless and modern combining legacy guarantee with convenience of digital banking.