Ways to transfer money from a bank account to PPF account online
While you are getting ready to file income tax returns for the previous year, you must be even planning to do tax saving for the current year by investing in various tax saving options like PPF. However, you must be worrying to go to the bank to transfer the amount to a PPF account every month. How to transfer money from your bank account to PPF Account online. What are the various ways where you can transfer the amount to a PPF account by sitting at your desktop/laptop?
3 Ways to transfer amounts from bank account to PPF account online
While Post office is not yet become online, PPF account can be opened with ICICI Bank, HDFC Bank and SBI. There are basically 3 ways where you can transfer money from your Savings bank account to PPF account online.
Also Read: How to get maximum interest in a year from Public Provident Fund Account (PPF)?
1) Transfer money through Internet banking account
This is for those who keep asking “Can i transfer money to PPF account online from other bank”. You can follow below process.
- Login to your internet banking with your login and password
- Go to Payment section
- Click on Add third party payee
- Give your PPF Account number, IFSC Code of your bank account and submit. It might ask account type and you would not find PPF there. You need to give “Savings” under account type.
- You would get Payee confirmation message and code is sent to your mobile like any other third party payee addition.
- Confirm your payee
- Transfer amount from your bank account to your PPF account online
- The amount is transferred and the process is completed
- Note that if you have PPF and bank accounts with the same branch of the bank, this process is a little simpler.
- If your PPF account is with different branch, you may need to call customer support first and link your PPF account with your account before proceeding with the above steps.
- Some bank accounts would also give an error that it is your own account, hence you cannot add a third party payee. In such case, directly make online payment to your linked account instead of following the above steps.
2) Standard instructions to transfer money from a bank account to PPF Account
The second method is you can give standing instructions through your net banking section (upon request / new request mode) and ask to transfer the amount to your PPF account. This needs to be done for each and every transaction whenever you want to transfer money to your PPF account. This way is advantageous when you want to transfer a lump sum, especially when an employee gets yearly variable pay or bonus or performance bonus.
3) ECS Mandate to transfer money from a bank account to PPF account
This is a one time activity where you need to visit your bank and give an ECS mandate to transfer a fixed amount every month from your bank account to your PPF account. This is very simple to do and we do not even worry to transfer money every month. The amount would be deducted on a specific date every month from your bank account and deposited in your PPF account automatically. You just need to ensure sufficient funds are available in your bank account
Also Read: Which are Safe Investment Options to invest in india?
How to transfer money to PPF account online from HDFC?
If you have PPF account with HDFC, you might want to transfer money to PPF account online, here is the process
1) Login to HDFC net banking
2) On the Left Panel Choose Account/Transact/Funds Transfer to Own Accounts
3) Select Funds Transfer to own accounts
4) Select “Transfer funds to PPF account or Sukanya Samriddhi Account and click to continue
5) Enter amount and remarks and submit
Some of the readers was asking how to add ppf account as beneficiary in HDFC. It is not required. If you follow above process that is sufficient.
Some FAQ’s about transferring money to your PPF Account online
- You might want to transfer money to your PPF account with the same bank where you have opened. In this case, simply login your internet banking and select transfer funds within your accounts and select PPF account, enter amount and submit.
- You can make/transfer maximum of 12 transactions in a financial year. Further transactions would get rejected. Hence plan it accordingly.
- You can transfer a maximum of ₹ 1.5 Lakhs per PPF account. Any excess transferred beyond this would be returned back to your SB account.
- You can transfer the amount to your PPF account before 5th of every month to get interest for that month on such deposit
- You and your spouse can open 2 accounts, invest ₹ 1.5 Lakhs per annum each for 15 years and can create wealth of ₹ 92 Lakhs (approx). You can even get tax exemption u/s 80C. This is one of the Best Investment Plans for getting higher interest rates after Sukanya Samriddhi Account.
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Suresh
Ways to transfer amounts from bank account to PPF account online
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I am transferring some amount in my PPF account from my saving account in same branch, but always getting message that the request URL was rejected. Please consult with your Administrator. Support ID : 3364403929729120465
What is the problem. In last years I transferred it directly. But now it is giving message. Please advice.
Please support me to transfer the PPF payment through federal bank online net banking
Hello Aneesh, Have you tried the 3 options indicated in the article? From which bank you want to transfer?
i want to transfer ppf account in bank of baroda to hdfc bank
i want to transfer my PPF account from Post office to HDFC bank . plz guide
I want to transfer money from my HDFC account to my PPF account in SBI.
How can this be done?
Simply Add PPF account no. IFSC code of Sbi and your name in add new binefishery section in Third party(neft/rtgs) transactions. After 1/2 an hour you can transfer money.
what should I mention in ‘Account Type’ column as it not showing option of PPF account. the only options are ‘Savings, Current, Overdraft, Cash Credit, Loan Account, NRE, Card Payment’.
Please suggest.
Same is my concern. If some one can guide.
Thanks.
i have marked it as Saving . i did it from icici monthly transfer to SBI PPF.
i want to transfer fund from my savings account in icici to my spouse’s PPF account in sbi. is it possible and if yes, steps. Thanks for the help!!
Login to HDFC net banking
On the Left Panel, Choose
Account/Transact/Funds Transfer to Own Accounts
Which has options to transfer within your accounts such as PPF/Sukanya Samriddhi Yojna etc.,
Thank you for the info… IT was so helpful..
If ECS facility is there and I want to change to manual deposit by regularly visit the branch what is the process to close above direct debiting or auto debit of my account for transfer of money to my PPF account
Can I do PPF payment through Credit card. please suggest.
No Tejal
My savings and PPF account is in HDFC, can you please tell me the procedure to transfer money to PPF account.
When i tried to add beneficiary, It says invalid account number
even its same case with me.
Same is the case with me. Can anybody please help ?
Login to HDFC net banking
On the Left Panel, Choose
Account/Transact/Funds Transfer to Own Accounts
Which has options to transfer within your accounts such as PPF/Sukanya Samriddhi Yojna etc.,
I see there are lot of questions regarding transferring to HDFC held PPF accounts. Rightly so since the bank has made it really difficult to get this done.
Path:
Accounts>> Transact>> Funds Transfer to Own Accounts
Next, out of the different options available, choose the one that you want for your PPF transfer. It could either be a one time transfer, or alternatively, you can set a standing instruction. Hope this clears your concerns.
Hi , My ppf account is in hdfc and saving account is in same bank please suggest how to transfer money into ppf account . I tried to transfer so many ways but could success.
Karan, it is simple, you can select the PPF account number in your HDFC and transfer them.
Hi, i have by mistake transferred amount to my PPF account instead of SB, can i initiate or request for transfer.
Both the accounts are in SBI.
Thank you!!
I have my savings account in HDFC and PPF account in SBI. How to do online transfer to my PPF account?
Hi Sunil,
You can add your SBI PPF account as NEFT Beneficiary in HDFC Netbanking.
At your flexibility, you can make transfers to your SBI PPF account.
Happy Earnings!
Can I cash depost in PPF in Post Office account. ?
Yes Rameshwar Rai, You can do that!
I have transferred online payment in my ppf account. But it is now showing in online statement.
Where should I confirmed that it is transferred in ppf or not ?
While deductions is done from my saving account.
You need to contact the bank / post office where you are holding PPF account and give the reference number to trace any transfer which is not reflecting
Can I Pay PPF thru Credit Card Online
Ha Ha. Its a unique payment option which you asked for PPF. I don’t think it is possible
Hi,
I have a PPF Account with Bank of India and have a savings bank account with HDFC Bank.
I have 2 queries –
1. Can i transfer my PPF account with HDFC Bank? If yes, what is the procedure and charges?
2. If Not, How do i configure online transfer from HDFC to Bank of India?
hi,
I have a PPF account with HDFC bank. as far as HDFC is concerned, you can transfer funds using the
Transact/Funds transfer to own accounts option
you can transfer funds to PFF/SSY accounts, set/remove standing instructions from that option
NO NEED TO DO NEFT
hope it helps
cheers
shiva
HR
i have a ppf account in post office. I want to deposit into that ppf account online from my saving account. Can it be possible if yes then how.
Can my parents deposit money in my,my wife and daughter PPF account ? Or I only can deposit ?
Can we make payment of PPF through credit card
i use pnb online net banking and i want to deposit online in my sbbbj ppf account Can it possible
I have an account in PNB and I have to be transfer fund from PNB account to PPF Account.
Is that possible, If Yes then how?
Where is the option to set standing instructions in net banking. Please help with the navigation.
My ppf a/c in post office , can i deposits the amount in this a/c through internet banking.
Yes you can do online transfer
How can I submit a proof of this transaction for yearly Investment Documentation proof to I-T department ? I mean, in offline mode I would get challan which can be submitted as proof.But what about online mode?
Can I transfer amount from Indian Bank saving account to ppf account state bank
Yes. you can do that. In SBI Bank, you have your PPF number which is similar to your account number. You should register the same in Indian Bank SB account while doing funds transfer and make transfer
Through HDFC it is rolling back the transaction saying account not found. Could you please suggest a solution.
through net banking I HAVE SUCESSFULLY TRANSFERRED MONEY THROUGH NEFT TRANSACTION FROM PNB SAVING ACCOUNT TO MY OWN PPF ACCOUNT RUNNING IN SBI WITHOUTH ANY ERROR .
A quick check, in the recipient bank account, the options at HDFC bank are savings, current, credit card but not PPF account. So can we state it as savings and use PPF account number?
Can i open PPF account in Canara Bank
Yes you can open PPF account in Canara Bank
@Robin, my PNB PPF a/c number is of similar format as suggested by you, but still not able to transfer online using NEFT feature of HDFC as online transaction is rolled back….
I have sbi account in bhandup also Our PMC or abhudya bank savings account this bank can transfer amount to ppf account I have suggested pls
Hello Suresh sir,
Hope you are doing. I have few queries regarding this PPF.
1. How to start depositing to the PPF account? I do not stay in India
2. In case, for any reason i will not be able to continue this PPF, then what will happen to the amount which i have already deposed?
Hi Preethi, It does not matter where you are staying. If you have bank account, you can transfer from your SB account to your PPF account. If you are unable to deposit minimum amt of Rs 500 per year, your interest payable every year would be reduced by 1% to 2% and balanced would be credited in Mar of every year. At maturity, this amount would be transferred back to your SB account.
As far as i understand,NRI is not allowed to open PPF a/c & even if he has PPF a/c ,when he/she was resident ,then it will not be allowed to renew the same.
I have PPF a/c in PNB. how to transfer fund to this in online ? or how to transfer from ICICI to PPF in PNB ?
Mani, Are you facing challenges in the ways I indicated? If yes, pls elaborate more.
Hi Suresh yes I am also facing issues in doing that as the PPF account number is of only 5 digits, moreover there is no IFSC code being provided by PNB branch as they are not able to recognize the PPF branch… moreover If I do not have the time to go physically in the branch to deposit the money
Priyanka,
As u r tellin that ur ppf account no iz only of five digits.no its not lyk this a ppf account no is of twenty digits.starting 6 digitis are of sol id then its ‘ppf’ and then zeros and then ur last digits
Eg
146000ppf000000xxxxx
Very informative & helpfull article.
Hru sir. I have a doubt. I have ppf account in sbi. My brother having saving account in icici. Is it possible transfer money from my brother saving account to my ppf account through net banking.
Yes It is possible. Try transferring a small amount of Rs 500 as test transfer.
very nice & informative article
Give some view or recent SME IPO as there are 5 to 6 SME ipo are coming….
If you have PPF account with Bank Of Baroda & if you want to transfer funds from other bank ,this facility is not there.Yes, in SBI it is allowed.