New Delhi: Opening an account and saving money in Public Provident Fund (PPF) at Post Office is another wise way to invest money. Post Office offers nine type of saving schemes including Public Provident Fund (PPF). Most of these schemes also offer tax rebate under Section 80C of the Income Tax Act. For opening a PPF account, you need to visit the post office just once, and then you can manage everything online with India Post Payments Bank (IPPB) app.Also Read - Get More Interest On Your Money Than Bank Fixed Deposit With This Scheme
Follow here the step-by-step guide for depositing money in your post office PPF account: Also Read - IPPB GDS Recruitment 2022: Deadline to Apply For 650 Posts Ends Today; Apply Now at ippbonline.com
1) Add money from your bank account to IPPB account. Also Read - Post Office Latest Update! Account Holders To Get NEFT, RTGS Facility Soon | Know Charges Here
2) Go to DOP Products. Choose PPF.
3) Write your PPF account number and then DOP customer ID.
4) Choose the installment duration and amount.
5) IPPB will then notify you for successful payment transfer made through IPPB mobile application.
All about DakPay digital payments app
The Central government has recently launched DakPay digital payments app which also can be used by post office and IPPB customers. DakPay provides digital financial and assisted banking services to customers. Moreover, it also facilitates services such as sending money, scanning QR code and making payment for services and merchants digitally.
Know more about PPF interest rates
For the general information, the Central government has kept interest rates of small savings schemes, including that of Public Provident Fund or PPF, unchanged for the January to March quarter. If a Public Provident Fund matures in 15 years, it will fetch 7.1%. A minimum deposit of Rs 500 per year is required to keep the account active.