SECURE your future by INVESTING in PPF with few clicks on ICICI Bank's iMobilePay app - Steps EXPLAINED

ICICI Bank PPF Account: If you are an ICICI Bank customer then you can secure your future with a few clicks on your mobile phone. The ICICI Bank provides the benefit of investing in Public Provident Fund (PPF) with the help of iMobilePay. The ICICI Bank has recently tweeted from its official Twitter account regarding the process of investing in PPF with the help of mobile phones. For further details, one can login to the official ICICI Bank website at icicibank.com.  

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The tweet from ICICI Bank reads, "Secure your future and grow your wealth with Public Provident Fund (PPF). Manage your account digitally on #iMobilePay app." The tweet further informed about the facilities that can be digitally managed through the iMobilePay app. They are :

Secure your future and grow your wealth with Public Provident Fund (PPF). Manage your account digitally on #iMobilePay app. You can:

set standing instructions
add funds
download statements

Download the app here: https://t.co/8oiFFXwFLy pic.twitter.com/UmGbuxp3XR

— ICICI Bank (@ICICIBank) August 5, 2021

1) Setting standard instruction

2) Adding funds

3) Downloading statements

One must note that the PPF scheme is a long term investment option offering an attractive rate of interest and returns on the amount invested. The benefits of investing in PPF are as follows:

1) It is a safe investment with government backing

2) There is a tax exemption up to Rs 1,50,000 per year under Section 80C

3) One can invest regularly with minimum amount as low as Rs 500

4) Partial withdrawal facility is available after 5 years

5) There is assured growth of funds

One must note that an ICICI Bank customer will be able to open PPF account with the help of iMobilePay app. In order to open a PPF account with the help of iMobilePay app, the follows steps will have to be followed:

Step 1: An ICICI Bank customer will have to download the iMobilePay app and login

Step 2: The customer will then have to click on the option 'Invest and Secure' and then will have to select the PPF/NPS option under it

Step 3: Then the ICICI Bank customer will have to click on Apply Now

Step 4: The customer will then have to confirm on the terms and conditions

Step 5: The customer will then have to enter the initial deposit account and then select the debit account. The customer will then have to select the option for the nominee and click on submit.

Step 6: Then one has to enter one's Aadhaar number and click on proceed

Step 7: Again, one has to enter the Aadhaar number and request for OTP

Step 8: After entering the OTP, one has to click on submit

Step 9: Finally, as the e-verification is completed, one has to click on confirm.  The PPF account will be create and one can then view and download the application.

Now, in order to open a PPF account through the ICICI Bank website, one has to follow a few simple steps. They are as follows:

Step 1: One has to login to the ICICI Bank website at icicibank.com

Step 2: The  the ICICI Bank customer has to go to the Bank Account option and select PPF

Step 3: After this, one has to enter one's investment amount and click on proceed

Step 4: One has to complete the e-signature process by entering the Aadhaar number and OTP

In case of any further query, one can login to the official website of ICICI Bank at icicibank.com