There is a good news for the consumers who don't like to visit their bank branches for small small things like money transfers and similar other services.
Until recently money transfers to PPF Accounts could only be done by physically visiting the bank branch and manually depositing the money at the cash counter. However, following banks have now opened up online money transfer service to PPF accounts: SBI, ICICI Bank and IDBI Bank
Hence, if you own a PPF account with any of SBI, ICICI Bank and IDBI Bank you can deposit money using internet banking service from any of your savings bank account.
The service is not available, however, in case you have opened up your PPF account in Post Office.
The procedure of transfer is simple. You can add your PPF account details as a beneficiary by mentioning the account type as 'Savings Account'. Once active, you can easily transfer money using NEFT service.
For claiming the tax you can take a printout of online transaction or else provide the bank statement of the PPF Account as a proof. However, the same may vary from company to company.
Until recently money transfers to PPF Accounts could only be done by physically visiting the bank branch and manually depositing the money at the cash counter. However, following banks have now opened up online money transfer service to PPF accounts: SBI, ICICI Bank and IDBI Bank
Hence, if you own a PPF account with any of SBI, ICICI Bank and IDBI Bank you can deposit money using internet banking service from any of your savings bank account.
The service is not available, however, in case you have opened up your PPF account in Post Office.
The procedure of transfer is simple. You can add your PPF account details as a beneficiary by mentioning the account type as 'Savings Account'. Once active, you can easily transfer money using NEFT service.
For claiming the tax you can take a printout of online transaction or else provide the bank statement of the PPF Account as a proof. However, the same may vary from company to company.
Thanks for sharing the article on how to transfer money easily. This will help us
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