Subscribers of Public Provident Fund can deposit money online in their account. There are three main methods for this. Most of the banks and post offices allow their customers to transfer money online in their PPF.
New Delhi: Public Provident Fund is a stable and reliable medium of investment. The more worry-free the investment is, the easier it is to deposit money. In the era of digital transactions, you can deposit money in the account sitting at home. Most banks and post offices allow their customers to transfer money online
National Electronic Funds Transfer (OIL)
National Electronic Funds Transfer (NEFT) is an easy way to transfer money online. You can transfer money to your PPF account through Internet Banking. For this, you must have PPF account number and IFSC code of the bank. NEFT transfer can be done from both current and savings accounts. Through this you can do both intra bank and inter bank transfer. Money will be transferred to your PPF account in a few minutes or a few hours.
Electronic Clearing System (ECS)
Through Electronic Clearing System or ECS, you can transfer a fixed amount to your PPF account from time to time. Once you have decided the amount for transfer, after a certain time it will be automatically deposited in your account. That means you will not need to fill all the details again and again. This method is used for interbank transfers.
Give the deduction permission to the bank
To use this facility, it is necessary that your bank account and PPF account should be in the same bank. In this you can deposit daily or monthly. Under this, you can deposit up to 1.5 lakh rupees annually in the PPF account. Once you have given the standing instructions to the bank, the money is automatically deducted from your current or savings account and deposited in your PPF account.
That is, if you want to deposit money in your PPF account, then you can easily make a deposit sitting at home using these 3 methods.