New Delhi: Opening an account and saving money in the Public Provident Fund (PPF) with the Post is another good way to invest money. Post Office offers nine types of savings plans, including the Public Provident Fund (PPF). Most of these programs also offer tax refunds under Section 80C of the Income Tax Act. To open a PPF account you only need to go to the post office once and then you can manage everything online with the India Post Payments Bank (IPPB) app.Also read – Small savings program by the Post: Customers can track unclaimed money in PPF, NSC
Follow the step-by-step instructions here for depositing money into your Post-PPF account: Also read – PPF Account: How the Middle Class Can Double Their Public Retirement Fund Income | Know here
1) Add funds from your bank account to the IPPB account. Also read – Public retirement fund: government leaves interest rate for small savings plans unchanged at 7.1%
2) Go to DOP Products. Choose PPF.
3) Write your PPF account number and then the DOP customer number.
4) Select the term and the amount of the installment payment.
5) IPPB will then notify you of the successful payment transfer made through the IPPB mobile application.
Everything via the DakPay digital payment app
The central government recently launched the DakPay digital payment app, which can also be used by Post and IPPB customers. DakPay offers its customers digital financial and assisted banking services. In addition, it also enables services such as sending money, scanning QR codes and digital payments for services and merchants.
Learn more about PPF interest rates
For general information, the central government left interest rates on small savings plans, including the Public Provident Fund or PPF, unchanged for the January to March quarter. If a public retirement fund matures in 15 years, it will bring in 7.1%. A minimum deposit of Rs 500 per year is required to keep the account active.