How to Update Nominee in SBI PPF Account Online via YONO App

 

Updating or adding a nominee to your Public Provident Fund (PPF) account ensures your savings are seamlessly transferred to your loved ones without legal hurdles. While many State Bank of India (SBI) customers still queue up at local branches to submit physical forms, you can easily add, edit, or delete your nominee details online in less than two minutes using the SBI YONO app.

Here is a complete, step-by-step guide to updating your SBI PPF nominee details online.

Prerequisites Before You Start:

a. Active SBI YONO login credentials (MPIN or User ID/Password).

b. Your registered mobile number on hand to receive the One-Time Password (OTP).

c. Nominee details ready: Full Name, Date of Birth, identification details, and communication address.

Step-by-Step Guide: How to Change/Update PPF Nominee Online:

1. Log in to SBI YONO

Open the SBI YONO application on your smartphone and log in using your MPIN or internet banking credentials.

2. Navigate to the PPF Section

From the main dashboard, scroll down to the Investments section and tap on PPF (Public Provident Fund).

3. Open Nominee Management

On the PPF overview screen, you will see your current balance, financial year contributions, and withdrawal/loan eligibility. Scroll to the bottom of the screen and select Manage Nominee.

4. Select Action (Edit, Delete, or Add)

The screen will display your existing nominee details:

    a. To delete a nominee: Tap the Bin (Delete) icon.

    b. To add a new nominee: Select Add More Nominees.

    c. o edit an existing nominee: Tap the Pencil (Edit) icon next to the nominee’s name.

5. Enter Nominee Information

Fill in the required information in the update form:

    a. Nominee Full Name

    b. Date of Birth

    c. Government ID / Identity details

    d. If the nominee shares your address, check the box for "Nominee communication address is same     with customer address".

    e. Tap Proceed.

6. Specify Entitlement and Confirm

Set the nature of entitlement (e.g., Owner) and enter the share allocation percentage (e.g., 100%, or divide accordingly if adding multiple nominees). Tap Save and Confirm.

7. Verify via OTP

A high-security One-Time Password (OTP) will be sent to your bank-registered mobile number. Enter the OTP and tap Submit.

8. Confirmation

A success message will appear on your screen confirming that your nominee details have been updated. You will also receive an SMS confirmation from SBI.

Key Takeaways & Frequently Asked Questions:

    a. Can you have multiple nominees for an SBI PPF account?

Yes. You can nominate more than one person and define the specific percentage share for each nominee. The total allocation must equal 100%.

    b. Can a minor PPF account have a nominee?

No, PPF guidelines do not permit nominations on accounts opened in the name of a minor.

    c. s there any fee for updating the nominee online?

No, updating your nomination via the YONO SBI portal is completely free of charge.