ICICI Bank offers a 24X7 service to open PPF account online; becomes first lender in country to provide such facility
ICICI Bank says it is first lender in country to introduce a fully digital and paperless procedure for opening a PPF account
New Delhi: Private lender ICICI Bank on Thursday said it has launched a digital service to allow customers to open a PPF account online, eliminating the need for furnishing paper documents.
The digital service will enable customers to open a public provident fund (PPF) account instantly and in a completely online and paperless manner.
"With this new facility, customers of the bank are no longer required to visit a branch and submit physical documents to open a PPF account. They can now conveniently open a PPF account anytime, anywhere using the bank's digital channels of Internet and mobile banking," it said in a statement.
The bank said it is the first lender in the country to introduce a fully digital and paperless procedure for opening a PPF account. The facility, available 24x7 and on all days, will require customers to login to their internet banking or mobile banking and apply for a PPF account.
The government slashed interest rates on small savings schemes, including NSC and PPF, by 0.2 percentage point for the January-March period
Mutual funds are best option available in the market whether you planning for any short, medium or long term financial goal
Mobile banking to overtake internet banking as half of the digital transactions are happening on mobile, says ICICI
According to B. Madhivanan, around half of the digital transactions of savings account are taking place on mobile banking.