Banks with online PPF facility | Fusion - WeRIndia

Banks with online PPF facility

Banks with online PPF facility

There are many benefits with a public provident fund (PPF) account. The amount in this account attracts good interest rates. At the same time, the amount deposited in this account has tax benefits also. You have to make deposits in the account before April 5 each year to get more interest.

Many prefer online transactions for depositing and transferring money due to their busy life schedule and time constraints. That’s why many banks offer net banking facilities to their customers. You can open your PPF account with almost all the banks offline while some of them are offering online facility for the convenience of their customers. Make use of their services to deposit money in your PPF accounts.

You should add the PPF account as a beneficiary to transfer funds online. It is better if you link your PPF account to a savings bank account.

Canara Bank allows customers to open PPF account online. They can transfer amount into the account and view the statement as well.

State Bank of India permits their customers to deposit money into their PPF account after opening it. You can transfer funds into your account online from all banks and view the statements as well. Yet, all SBI branches are not authorized to operate a PPF account.

ICICI Bank facilitates its customers to transfer money into PPF accounts and view the statement. You can transfer money from the same bank or various savings accounts. Forms to open PPF account and nomination can be accessed from the bank website.

Axis Bank permits transfer of funds into PPF account online after opening an account. However, only few branches are authorized to open PPF account.

Some other banks that allow online transfer of funds to your PPF account are: Central Bank of India Bank of India, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala, Bank of India and IDBI Bank.

Image Credit: Rakesh1810180 / CC BY-SA 4.0

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