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 - DakPay: India Post Payments Bank Launches New Digital Payment Service | All You Need to Know
Follow here the step-by-step guide for depositing money in your post office PPF account: Also Read - Big Relief For Pensioners, Centre Launches Doorstep Service For Submission of Digital Life Certificate
1) Add money from your bank account to IPPB account. Also Read - 'Deserves Padmashri': Twitter Can't Stop Gushing Over Postman Who Faced 'Wild Elephants'-'Slippery Streams' to Deliver Letters For 30 Years
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.