How to open PPF account instantly through ICICI Bank online services?

  • Rakesh Shewale says:

    I have just opened a PPF account in ICICI bank on 25th March 2018 with initial amount 50k from my Saving acc. So will they consider 2017-18 year also for my ppf account? Does that mean i will get one less year for 15 years of period?
    I have transfered 50k on 25th march so should i add 1 Lac or 1.5Lac in April’18. I am little bit confused.

    Kind Regards,

    • Dear Rakesh,
      If the PPF ac has been opened and the amount has been deducted in FY 2017-18, then Rs 50k is applicable for FY 2017-18 / AY 2018-19 only.
      You can contribute up to Rs 1.5 lakh more in FY 2018-19.

  • Swetha says:

    hi, can i open the ppf account with variable payments option, i mean, can i open the account with minimum amount of Rs. 500, and change the installment amount in the next year.

    • Dear Swetha,
      Customers need to deposit minimum Rs. 500 in the PPF account per year.
      And I believe that you can change the next installment amount. You may kindly contact the customer care of the bank..

  • Abi says:

    I have just seen the ICICI portal and came to know that they have STOPPED doing this online PPF account opening facility. Now we need to visit bank to open PPF account. NOTHING IN ONLINE.

    • Dear Abi,
      I can view the online facility available in my ICICI account through net-banking and also in Bank’s mobile APP.
      You may kindly contact their customer care.

      • Abi says:

        Thanks Sreekanth, I’ve spoken with their customer care also. They have told me that ICICI have stopped giving the option of opening the PPF account instantly online. Instead they give one time registration which needs to go through near by branch process.
        Even I did checked it up my wife ICICI bank account and I can see the same one time registration process which needs to go through near by bank branch.

        Either ICICI knows that I’m going to put some money in PPF from my account balance and they dont want me to put PPF instead they may suggest some of their products if I visit their branch OR they really stopped the service of opening the PPF account online instantly.

        Anyways I’m visiting the ICICI bank tomorrow and will update you more on this,

        • Dear Abi,
          Ok, kindly check with the ICICI staff in person and provide us the latest info!
          As of now, I am able to see the options to open PPF account through Aadhaar based ekyc..

          • Abi says:

            Hi Sreekanth,
            I’ve visited our nearest ICICI branch yesterday and they too confirmed the same that instant opening of PPF account is currently disabled. I too quoted our conversations and said some people can see the option of instant opening online, but they are puzzled with that 🙁
            All in whole, I felt there should be some AI tool running behind and predict the customer actions from which they are blocking this feature of instant opening. Adding to this, bank is pushing loads of their own products instead of PPF !!!

            It so weird, how it turns out but the truth is bank literally cornered me and brought to their premises and pressurized with their products instead of government’s fund. End of the day, banks had forgotten their purpose and instead they are acting as a pure commercialized system.

            – Abi

          • Dear Abi,
            Agree with your views on aggressive cross-selling of products by the banks/intermediaries.
            Most of the times, this cross-selling of financial products is not in the best interests of the banking clients, a lot of mis-selling is happening!.
            Let’s buyer be aware and beaware of such acts!

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  • Shirley says:

    Hello Sir,

    Thank you for sharing the information about PPF account. I would recommend this article as there is detailed and step by step information how to open a PPF account if you are a ICICI bank customer.

    I have a Question ? If I have a NRE account in ICICI bank, Can I open the PPF account online.

    Kind Regards

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