Public Provident Fund - PPF

[vijayvaliya]

hello vijay

Can u pls adv if opening a pf account in bob or icici will be fine. A i had a hard time with sbi

Tn

sir,

It is a matter of personal perception. in my opinion Banking is a service industry and quality of the service is as good as the quality of the persons at the delivering end. I work for BoB still maintain my PPF account with SBI. I dont know about the service of ICICI on PPF, but i think ICICI provide better services, but i think it is bit more costlier. BoB many customers tell me that they have good experience, but i am yet to experience the customer interface of BoB, as i am staff.


Pl update your experience, once you decide and act on this.

 

[simple_trader]

I do not think any private banks like ICICI can provide PPF account. As far as I know, only SBI and post office can open PPF account.

 

[rajeabc]

Please accept my apologies but my questions are answered before. I couldnt find more precise answers so asking these here.

my scenarios : I am 29 year old, NRI living in London with no income in India. Recently I got married and going to be father soon so would like to do some savings. I was thinking about PPF. if anyone else got better idea please let me know please.

Can I deposit Rs.70000 at a time if yes whats best time to deposit in a year ?

I understand that NRIs can open PPF account but not clear about this condition 'Subscriptions, however, will have to made from their NRO account on a non-repatriable '. However I have NRO account with Citibank, delhi and PNB, jaipur.

One more thing if anyone is aware off please. I am british citizen with OCI card but plan to settle in India permanently now. What will be my status in terms taxation?

Please reply.

regards,
sandeep

Dear Sandeep , you are not a NRI anymore. Now you are a Brit and can't invest in PPF. if caught , it will be consider as fraud and might face charges.

NRI= Non resident Indian (who holders Indian Passport )

 

[rajeabc]

Re: Who can open a Public Provident Fund PPF account?

What is mean by NRO account on non-repatriable basis ?

Can a PPF account be also opened in name of minor ?

non-repartriable basis means you can not take money out of India.

Yes you can open a/c in name of Minor and you as a guardian

 

[blueninja]

I do not think any private banks like ICICI can provide PPF account. As far as I know, only SBI and post office can open PPF account.

Buddy as per govt directive ICICI can open ppf account

 

[blueninja]

sir,

It is a matter of personal perception. in my opinion Banking is a service industry and quality of the service is as good as the quality of the persons at the delivering end. I work for BoB still maintain my PPF account with SBI. I dont know about the service of ICICI on PPF, but i think ICICI provide better services, but i think it is bit more costlier. BoB many customers tell me that they have good experience, but i am yet to experience the customer interface of BoB, as i am staff.


Pl update your experience, once you decide and act on this.

Hello Vijay

thank you for your advise,

I chked with on different forms on ICICI services in this regards, did got negative impression on it.

As far as the Govt bank like SBI and BOb are concerned i m yet to discover their services ( for ppf ) . But i hv seen their sevices for bank sevices quite poor.

But as u hv opned an account with SBI , can u pls advise how their servises are .... i hv heared that they are offering online services . but not sure of it.

can you pls advise how their services are ..

thnk s

 

[vijayvaliya]

Hello Vijay

thank you for your advise,

I chked with on different forms on ICICI services in this regards, did got negative impression on it.

As far as the Govt bank like SBI and BOb are concerned i m yet to discover their services ( for ppf ) . But i hv seen their sevices for bank sevices quite poor.

But as u hv opned an account with SBI , can u pls advise how their servises are .... i hv heared that they are offering online services . but not sure of it.

can you pls advise how their services are ..

thnk s

Dear ninja,

I may not be the correct person to seek an advice for in this matter. My experience with both this banks are good (sorry to say this!!). I never had a visit to the branches.(unlucky yet to have a personal interaction with the staff at the counter). Both banks have agents operating. You can approach them through the agents, which will save your valuable time and emotional upsets at the counters. (which many customers term as quality of services).

Opening accounts takes 1-3 days in all cases, deposits takes 20-30 minutes, withdrawals takes 1-3 days (depending on your banking relationships), queries gets cleared at the most in weeks time, transfer takes place within one month, passbook updation takes place in a day's time. This is how i sum up the my experience with SBI/BoB.

 

[simple_trader]

Hello Vijay

thank you for your advise,

I chked with on different forms on ICICI services in this regards, did got negative impression on it.

As far as the Govt bank like SBI and BOb are concerned i m yet to discover their services ( for ppf ) . But i hv seen their sevices for bank sevices quite poor.

But as u hv opned an account with SBI , can u pls advise how their servises are .... i hv heared that they are offering online services . but not sure of it.

can you pls advise how their services are ..

thnk s

I have account with SBI. I normally visit my branch once in a year deposit the amount. They update pass book on the same day. Also I can see my account from onlinesbi website.

Over all service is good at SBI.

 

[DCEite]

Gentlemen, i need some answers regarding PPF account

1. I recently went myself to deposit a cheque for my PPF account in the post office. I did not get the *SBI* receipt, but the receipt of Post office. I am confused since whenever my agent deposited the amount on my behalf, he would get back with an SBI receipt, and not the Post office receipt.

2. What is the incentive/commision one is supposed to get while investing in PPF - through self or through agent. I am asking this because i have never received any incentive or commision fron the Agent or even while directly depositing , any incentive from the post office.

3. Can a PPF agent misuse the PPF account, by issuing a duplicate passbook, and hence withdrawing money from the account after lockin period ?

 

[crist]

Online Savings Account