PPF (Public Provident Fund) account matures after 15 years from the end of financial year in which it was opened. It is mandatory to Extend PPF Account after it matures if you want to continue contributing money into your PPF account (Any contribution done without extension will not fetch you any interest). This post will share details about how to extend PPF account in SBI Online. Until recently SBI PPF account extension online was not possible.
Thanks to recent lock downs and movement restrictions, SBI has enabled option to extend PPF account online. It is not mandatory to submit Form H or Form 4, which is required for PPF account extension if done in person by visiting the branch.
If you are looking for some pointers to confirm the exact maturity date of your PPF account, you can use any one of the methods discussed at How to Check Minimum Balance Required in SBI.
Channels Available to Extend PPF Account in SBI Online (without branch visit)
At present SBI YONO App does not provide option to extend matured PPF account.
Extending PPF Account in SBI Online using Net Banking
1. Login to SBI Net Banking facility by vising https://www.onlinesbi.com/
2. From the “e-Services” menu click “PPF Account Extension”. The same is illustrated in below screen shot.
3. Now you should be at below screen. Ensure you PPF account is selected and click on “Proceed” button.
4. In case if there are any back end issues you may see a error message saying “Dear Customer, Please Select a Valid Account for Extension”. Below is a screen shot of this error.
5. If you happened to hit this problem you can follow the alternative approach by sending e-mail to your branch (refer to below section)
Extending PPF Account in SBI by sending e-mail to branch
Every State Bank of India Branch has an email ID. You can find the email address of your branch from your accounts Passbook, bank statements. You may also find the email address of your branch by using SBI Branch Locator tool. For illustration purpose refer to below image (Using the SBI branch Locator tool I got the Email ID of SBI HSR Layout Branch, Bangalore).
You might as well be able to figure out your SBI branch’s Email ID by a google search with IFSC code of your branch. The Email address is usually in the format “firstname.lastname@example.org” (The ‘xxxxx’ mention here is ‘branch code’, it is usually a 5 digit number. The ‘branch code’ is typically the last 5 digits of IFSC code itself. In our above example with HSR Layout Branch, Bangalore the IFSC code is “SBIN0004409” and the Email ID is “email@example.com” – note the last 5 digits of IFSC code being part of the branch’s Email ID.
Once you got the Email ID, all you need to do is send a request to extend PPF account validity from your registered Email ID (this is the Email ID where you would be receiving your account’s e-Statement). Below is the exact e-mail that I sent and got my SBI PPF account extended without a single visit to branch.
Email Subject: Request to extend my PPF Account
I have a PPF account with SBI, < Name of branch >.
My PPF Account number is < PPF Account number >, In the name < Name as per PPF account Passbook >.
My PPF account has matured by 01 / April / < Year of Maturity of your PPF Account >.
I want to renew and continue using the same.
Please do the needful and extend my PPF account.
< Your Name as per Bank records >
Mobile: < Your registered Mobile number >
Subsequent to above e-mail my PPF account extension request was processed on the same day (in fact within 1 hour of sending the e-mail. That was a “Surprisingly SBI” moment for me).
Confirming the Successful Extension of your PPF Account
Once your PPF Account Extension request is processed successfully, the maturity date of your PPF account should be extend by a duration of 5 years.
Check the new maturity date of your PPF account by following the procedure shown here. Post execution of extension request you should see change in maturity date reflect in the system.
Importance of Extending PPF Account on Time
If the PPF account extension request is not submitted within 1 year from the date of maturity of PPF account, you will lose the option to renew the PPF account once and for all. A Matured PPF account that is not renewed will continue to earn interest on contributions made before the maturity date, but fresh contributions will not be possible (if any fresh contribution is made, it will not fetch interest).
We hope this post would have helped you to get aware of the newly provided options to extend your PPF account with SBI online, in a completely hassle free manner – right from the comfort of your home.