How to Deposit money online in ppf account?

Deposit money online in PPF account

How to open a post office PPF account?

The post office normally offers close to 10 types of savings schemes including the Public Provident Fund (PPF) and most of the schemes provide the benefit of a tax rebate under Section 80C of the Income Tax Act.

You need to visit the post office just once for opening a PPF account and then with India Post Payments Bank (IPPB) app you can manage everything online.

What is Digital payments app ‘DakPay’?

The government launched DakPay digital payments app last month. Post office and IPPB customers can also use this app. DakPay provides digital financial and assisted banking services provided by India Post and IPPB. Sending money, scanning QR code and making payment for services and merchants digitally can be done through DakPay digital payments app. Interoperable banking services are provided to the customers with any bank in the country.

What are the latest PPF interest rates ?

Public Provident Fund or PPF and other small savings schemes  interest rates remains unchanged for the January to March quarter. On a quarterly basis, the government Interest rates of small savings schemes are revised. Public Provident Fund matures in 15 years, fetches 7.1 percent and to keep account active minimum deposit of Rs 500 per year is required.

How to transfer money online in your post office PPF account by IPPB

Here is a step-by-step guide for transferring money in your post office PPF through IPPB:

  • Add money from your bank account to your IPPB account.
  • Go to DOP services.
  • From there you can choose products- Recurring Deposit, Public Provident Fund, Sukanya Samridhi Account, Loan against Recurring Deposit.
  • If you want to deposit money in your PPF account, then click on Provident Fund
  • Enter your PPF Account Number and DOP Customer ID.
  • Mention the amount that needs to be deposited and click on the ‘Pay’ option.
  • IPPB will then notify you for successful payment transfer made through IPPB mobile application.
  • You can opt for various post office investment options provided by India Post and make regular payments through IPPB basic savings account.
  • Funds can be transferred from other bank accounts to IPPB using the app.
  • In the same way, you can deposit money in your RD or Sukanya Samriddhi Account through IPPB mobile app.

DakPay digital payments app

Last month, the government launched the DakPay digital payments app. This can also be used by the post office and IPPB customers. DakPay provides digital financial and assisted banking services provided by India Post and IPPB. It also facilitates services such as sending money, scanning QR codes, and making payments for services and merchants digitally. It will also provide interoperable banking services to the customers with any bank in the country.