The total amount deposited in PPF account subject to Maximum Rs 100000/- are under 80C of Income tax rebate.
Learn in few easy steps how to do National Electronic Funds Transfer, or NEFT to PPF account easily ?
1. PPF account must be with any Banks not with Post Office
2. Get IFSC Code and account number of your PPF account. To get IFSC Code check the passbook of PPF account or check online at respective bank’s site
3. Add the PPF account number as the beneficiary account through Internet Banking option (In SBI Internet Banking user has to add under profile and wait up to 24 Hrs for activation)
4. After getting approval one can transfer the fund easily through NEFT To PPF account as far now I have tries with SBI, ICICI Bank, IDBI Bank, Syndicate Bank (NEFT is not enabled, but payment can be made through any of the designated branches), HDFC Bank, Axis Bank, Bank of Baroda, Bank of India, Canara Bank etc.
5. This facilities is enable with almost all banks who have Internet Banking facilities (except few, kindly confirm with the bank’s customer care)
How can I transfer PPF account to SBI from any other Banks ?
This is easy, Just fill the form along with request letter to transfer the PPF account to SBI. Even from post office also one can transfer the PPF account and use the NEFT facilities.
Learn How to internally transfer fund to PPF account from SBI Internet Banking : Click Here
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Hi,
Thanks for the info shared. One question. My PPF account with SBI and it has 10 digit a dash and one more character. What should be the account number to register for NEFT. Like 1234567890-1
Generally the account number in SBI PPF doesn’t have any extra character…Probably, it may be old opened account. You have to confirm it from SBI or try to add the same with SBI net banking, if you have had account with SBI.
Dear Sir,
I am ashish tyagi ,I have a query regarding PPF account amount deposition
Actually I have PPF account in SBI Bank, Meerut But have saving account in ICICI in Nashik ,I am also in Nashik So kindly suggest me how can i deposit my amount in PPF account ? Plz Explain me in details .
Thanks with regards
Ashish tyagi
Follow through the post….Add PPF account number as beneficiary through ICICI Internet banking NEFT payment page….You may now pay the amount in PPF accounts directly.
Hello Raj,
I have PPF account in ALLAHABAD BANK. I want to transfer money from the savings account of HDFC Bank to the PPF account of ALLAHABAD BANK through NEFT Option . But when I am trying to do the same , I am getting the option called ” Account Type”. Account types given are as follows :
1. Savings
2. Current
3. Overdraft
4. Loan Account
5. NRE
6. Cash Credit.
So please tell me , what is the account type of PPF Account ?
SAVING..
This means I can transfer funds to PPF account even if I do not have a Savings Bank account in that particular bank or branch? Like say I open my PPF account in Axis Bank but I have my Savings account in Citibank, can I simply transfer funds using NEFT? Thanks!
yes, you can…add ppf a/c no. as beneficiary..
Hi Raj,
Thanks for the information. 🙂
There is a correction for Canara Bank. You cannot transfer funds in PPF A/c with Canara Bank using NEFT. There PPF A/c numbers are alpha-numeric; it has been confirmed from there head office. Yes, they have a link on there website for online transfer of funds in PPF; however I tried multiple times & it was not working.
thx for info
For further clarity, it is possible to pay a subscription amount online to a PPF account held in Canara Bank, provided that the payment is made from any Canara Bank account only. The link is https://epayment.canarabank.in/PPFEpayment/de/PPFHome.aspx.
Payment cannot be made via NEFT as yet, ie, from an account in another bank. They are supposedly upgrading their netbanking system soon, and I’m waiting to see if the upgrade will allow NEFT payments to be made to a PPF account.