Online transfer to your Public Provident Fund (PPF) account

POSTED BY manish ON December 19, 2011 COMMENTS (616)

Do you want to invest in your Public Provident Fund (PPF) account online without going to the bank physically? If YES, then there is a good news for you. You can transfer money to your Public Provident Fund Online netbanking. Whatever we are going to talk in this article is applicable to Public Provident fund in State bank of India. If you have a PPF account in post office of other banks , then first you will have to transfer your PPF account to SBI and then you can add your PPF account to your bank account as beneficiary and then transfer the money to PPF account anytime with a click ! .

Please note that this online transfer is possible only if the PPF account is at SBI , if it is opened at Post Office , then it would not be possible, because only SBI is authorised to get online payments for PPF.Β  Many people have their PPF , spouse PPF and children PPF account, they can add any number of PPF accounts for online payment.

Steps for Online Transfer in PPF account

Step 1 : Add Public Provident Fund account as Beneficiary Account

The first step is to add your PPF account to your Bank account as third-party so that you can do a money transfer to them. I am using ICICI account screenshots, but all the steps must be same for other banks also.

Public Provident Fund Online

Step 2 : Choose the SBI branch Address

Next step is to choose the exact location of the BANK where the account was open . Note that if you opened a PPF account at a SBI branch where netbanking is not available , it will not be listed.

Public Provident Fund Online

The best thing about have the bank account and PPF account linked is that you can also view the PPF details and balance at a single place .

Step 3 : Add your PPF account as the Payee Account number

The last step is to add your PPF account as the Payee Account number and then click on the confirmation link . In ICICI you will first get an activation code which you will have to put to activate the account for first time .

Public Provident Fund Online
Once you have completed these 3 steps you can see your PPF account as the 3rd party account where you can transfer the money just like you send it to any account.

Steps for State Bank of India (SBI)

Option 1 : If your PPF account and Bank account is at same branch

Incase you have your PPF account and SBI bank at the same branch, then you can see your PPF account already linked with your Bank account and you can transfer the money. Prasoon shares his personal experience

I already had an account in SBI, New Delhi. I went to SBI, Hyderabad for opening a PPF account. They asked for existing SBI account number, which I provided. Also, I submitted PAN card and Bank statement copy as proof documents. It took some 15-20 minutes to get a PPF passbook.

Now a pleasant surprise –

When I came back home and logged with my saving account user ID, I was able to see my PPF account under account section. I was able to see transaction I have done till then.

Also, there is no need to add PPF account as Third Party in this case. As the PPF account appears as separate account, I can transfer amount using fund transfer (not third-party transfer). Good thing is that, this transaction is real-time and the PPF account gets updated at the same time. Also, I am able to download statements, just like with normal account.

If you are not able to see the PPF account as “linked account” , then call customer care and ask them to activate it, if that does not work , then try to add your PPF account as the beneficiary account like I explained above . If even that does not work then try to go to your branch and then ask them to link the account to your bank account.

Option 2 : If your PPF account and Bank account are NOT at same branch

If your SBI Bank account and PPF account are not in same branch/city , then as the first step you can try to add your PPF account to your Bank account as third-party to do a money transfer. If that does not work then you can go to your Branch and ask them to link your PPF account to your bank account . Mostly this should work.

Netbanking works with all the Banks

As of now we know that this online transfer is working with ICICI , SBI , IDBI , Bank Of Baroda , IDBI bak, Union Bank of India . So with this information we can conclude that any bank which supports NEFT transaction can be used to transfer the money to SBI PPF account, by adding it as third party beneficiary. Let us know if this works for you.

But your Public Provident Fund account is not in SBI ?

Incase your PPF account is with Post Office or a non-SBI bank ,then may be its a great time to transfer your PPF account to SBI account ,all you need to do is submit a form for transfer of your PPF account. It will be one time task , so do it .

How to claim tax benefits

If you transfer the money to your PPF account online then you can do two things . First is to get your PPF passbook updated at your branch about the money transfer , you will get the PPF passbook updated and show it as your proof for claiming tax benefits. The other thing you can do is take the print out of your bank statement which will show the credit of the money to your PPF account. I am not sure but may be this is possible with SBI bank only . You can use this statement as proof to claim tax benefit.

NRI’s should make use of this online transfer facility

I think the best use of this facility can be made by NRI’s , who are already have a Public Provident Fund account , but could not go to bank branch to invest in PPF and waiting for information like this.

Just try this option with Rs 500

If you are wondering if this whole netbanking will work or not , I can tell you that there are countless number of investors already doing this and I am sure you will hear from other fellow readers that they are already doing this. It would be a great idea to test this by adding your PPF account and then test a transfer of Rs 500 and confirm once that it really got transferred .

Where you looking for information like this ? Will you test this with your Public provident Fund account and do a test transfer ! , please update your comments about it in comments section .

Thanks to Jayaprakash for sending me these screenshots and also confirming that he was able to transfer money from his ICICI bank to his PPF account.

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616 replies on this article “Online transfer to your Public Provident Fund (PPF) account”

  1. Varsha says:

    Is there any limit to number of times I can transact in my PPF account? Example can I transfer INR 2000 every month to my SBI PPF account from my HDFC account? Or can I transfer INR 1000 twice every month to my SBI PPF account from my HDFC account?

    1. You can deposit 12 times in a year, thats the limit !

  2. sudip says:

    sir I hv a pnb account with net banking facility. I want to transfer my fund to SBI PPF account. Is it possible through PNB NEFT to SBI PPF account? If so what is the limit of transaction? Rupees 50 can be tried for trial ?

    1. It should be possible .

  3. Renga says:

    HI Manish,

    Thanks for this article, very informative.

    I am an NRI, I have a PPF acc at PO and I am banking with ICICI – is it possible to transfer the PPF acc from PO to ICICI(NRO or NRE) acc?

    If that is not possible, my wife has an account with SBI and she has PPF account linked to SBI so she is able to make online payment etc.. do you know if its possible for me to transfer my PPF account to SBI and link it via her Bank account?

    1. It should be possible for you but with the saving bank , I am not very clear if it can be done with NRE/NRO account also !

  4. Rajesh says:

    I am going to transfer from ICICI to SBI. I would need a receipt of some sorts to show for Tax exemption before the TDS is cut. Does the website generate such for PPF ?

    1. Hi Rajesh

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

      1. Kaushal says:

        Even I need this and I will try today for first time. Probably the online fund transfer receipt can be used if the finance team can accept that. Else, update the pass book and upload the copy of entry in pass book.

    2. Guru says:

      Take a PPF account statement Online from your SBI account. It should show those transferred amounts which should be sufficient as Proof’s for your Finance team. Regards, Guru

  5. Sunil says:

    I tried adding SBI PPF account as Beneficiary Account in AXIS and tried Rs. 200 transfer. I do not see deposit into account. Also, SBI PPF account number as leading Zeros, like 00000045xxxxxxxx. Should I add whole number including Zeros or just number starting from 45xxxxxxxx?

    1. Hi Sunil

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

  6. Siddharth says:

    Manish, My PPF account was opened in 2004 with SBI in North Kolkata. Now I am in Thane, and want to transfer the account at my nearest branch. Is there any online mechanism for the same ?

    1. No , you will have to do the offline process for this

  7. Akash says:

    Hi Manish,

    I have a joint Account in SBI with my Mother and i have opened a PPF account separately in the same bank.
    But i cant see my PPF account Linked in Net Banking. I believe if have a joint account then the PFF accont should get linked. If not what way i can get it linked. Is there any way to link my PPF account online without visiting branch, as we stay in other city and bank account is in another city.

    1. I am not aware of this. Kindly check with SBI itself on this

    2. Renga says:

      You need to link it manually, once you login to your SBI online banking there is an option on the left hand side to link your PPF.

      I have done it for my wife, it works, no need to go to the branch.

  8. Ritesh says:

    Hi … I want to contribute to my ppf account in SBI using my credit card one time 1.5 lacs or monthly either ways… is it possible…

    (NPS contribution using credit card is allowed.. so i was wandering why not ppf also)

    1. No I dont think its possible !

  9. anjali says:

    i don;t have net banking password so how can i transfer ppf amount in sbi account. i have account with sbi.

    1. Get the netbanking password !

  10. Tarun says:

    Hello,
    My wife PPF account is opened when she was minor in Gujrat and now we live in Noida, the account is matured this year. how we can claim the amount without going to home branch? I don’t have any SBI account.

    Please share me a way.

    Thanks!

    1. You will have to go to the home branch only for this. There is no other solution as of now

  11. Manish says:

    Hello Manish

    I have PPF Account with State bank of patiala, and Transfer money from HDFC. Does it work..>

    1. You need to try it . MOstly it should work, but you can never be sure before doing it

  12. Vijay says:

    I have not used my SBI PPF account from last 2 years and want to continue same account. is there any issue in it.

    1. No there wont be any issue. Just go to branch and talk to them.

      1. Ranjeet says:

        Correct, there is no issue. Just paying a fine of Rs. 50/- per year for each year in which there is no payment done. But, has to be done in the home branch only.

  13. SheetalS says:

    Hi,

    I recently transferred my PPF post office account to SBI account, so that I could transfer money online to PPF account. But while transferring money (Rs. 50000) from my SBI account to SBI PPF account, it throws a transaction status as “Deposit during the current year exceeds maximum allowed.”
    I’m not able to understand what’s wrong with it.
    Please help.

    Thanks in advance.
    Sheetal

    1. Did you pay any other amount in the same year ?

      1. SheetalS says:

        No. This would be first time paemt for this year.

        1. 50k should not give any issues, as its below limit. Check with your SBI bank on this

          Manish

    2. satyamPilla says:

      Dear Manish, The minimum deposit is 500/- and maximum is Rs. 1,50,000/- in a financial
      year.
      One deposit with a minimum amount of Rs.500/- is mandatory in each financial
      year.
      The deposit can be in lumpsum or in convenient installments, not more than 12
      Installments in a year or two installments in a month subject to total deposit of
      Rs.1,50,000/- per FY.

      1. Thanks for sharing that satyamPilla

  14. SHAVNEET says:

    Hi Manish ,

    How about transferring money to ICICI PPF account from other bank account (eg : SBI saving account) ??
    Does this work???

    1. Yes, it will work with other banks too !

      1. Shavneet says:

        Hi Manish,
        All other banks are accepting neft transfer, only Icici is not accepting. They only accept from their saving account that too if it is linked .
        And I have practically checked this, and this has been discussed in fb page aifw

        1. ok I didnt knew that then . Thanks for sharing that

          1. Ranjeet says:

            Similar is the situation with Bank of Baroda. The linking of PPF account has to be done first before making the payment. Further, linking is possible with the that PPF account which has been opened in the same name in which there is Saving account (i.e. PAN No. of PPF and saving account must be same for linking of PPF account).

            1. Thanks for sharing that, I didnt knew

  15. GaneshGopinathan says:

    Thank you. Its a very useful information.

  16. Pritish says:

    Hi,
    I want to transfer money from SBI savings bank to Canara bank PPF account. Please help me with this.
    Please guide me.
    Thanks

    1. Hi Pritish

      Did you follow what is asked in this article ?

  17. Joseph says:

    It worked for me. I transferred from HDFC Bank to SBT.

    1. Afthab says:

      You gave account type as ‘Savings Account’ when adding the beneficiary in HDFC bank?

  18. OmPrakashVerma says:

    I am having my sb account in Indian Bank can i transfer fund from this account to PPF account at SBI greater kailash new delhi on line through NEFT

  19. Ajay Pund says:

    I was transfer my money from SBI online account to PPF SBI account . Please give me information of how to generate the PPF slip and print

    1. Hi Ajay Pund

      Bank will be able to help you on this

  20. J Das says:

    I want to transfer money from my SBI Savings account to my SBI PPF account (Different Branch) through online.Please let me know how to get the receipt of PPF payment through online ?

    1. The payment confirmation will be there in your bank statement, That should be enough

  21. Sagar Thakker says:

    I want to ask you about adding SBI PPF account details with my ICICI bank as per steps above but there is one confusion in my mind , my PPF account which is in SBI has 17 digits so if i wish to add it will be done or not ?? will they allow me to enter all no & accept it for NEFT transfer ??

    1. Try for Rs 500 and see if it goes through or not ?

  22. BRIJESH KUMAR says:

    I HAVE A SAVING A/C IN HDFC, NOIDA BUT PPF A/C IN SBI,MODINAGAR(U.P.), HOW CAN I LINK?HELP

    1. Check the article, we already discussed that !

  23. Praween says:

    As a test I added my wife’s PPF account in ICICI bank as third party on my SBI saving bank account. I transfered Rs 100 from my SBI saving bank account to ICICI PPF account of my wife. It charged me Rs 2.50 as bank charge. Is it normal?
    It does not charge me anything for money transacted from my saving bank account to my PPF account in SBI bank.

    1. Hi Praween

      Its because its a interbank transfer when you do it from your own account. from your wife account, it becomes a NEFT transaction .

  24. Tushar says:

    Hi Guys,

    I have a question and I am sure I will get the answer here πŸ™‚
    I have a SBI PPF account (No other SBI accounts only PPF). I need to access it online to check summary of Investments and produce them for 80C declaration.

    Wanted to know if its possible without having any savings account with SBI and how..?

    Thanks and best regards,
    Tushar

    1. Tushar

      IT would be tough to access it online without a SBI saving bank account. Only with saving bank in SBI and linking the PPF to it you can see things online, otherwise not .

      Manish

  25. V KRISHNA PRASAD says:

    How to pay SBI PPF Account Payment from SBI Saving Account SB Account with Mission Road Branch and SBI PPF A/c with Rajajinagar Branch Bangaluru

  26. Madhur says:

    what would be account type which adding payee, as in ICICI it is showing only savings, current, cash credit and Loan account??

    1. Choose “Saving” for this ..

  27. Harmeet says:

    Does anybody knows how to transfer from OBC savings account to idbi ppf account, I have added my ppf account in idbi as a beneficiary, every time I make a payment to my idbi ppf account the message shows success but after some time the balance is same, don’t know how to resolve it, or shall I transfer my account to obc, if possible

    1. Are you getting back the money in your account or its not returned ?

  28. Ganesh says:

    Hi Manish,
    I have SBI Savings a/c in branch 1 and SBI PPF a/c in branch 2, when i asked to link the PPF a/c to savings a/c in branch 1, they said CIF No. (Customer identification number) is different, so it is not possible to link the accounts. is it true? Another query, is it possible to deposit in bank branch 1 for PPF a/c in branch 2, to get challan for tax saving proof. Thank you.

    1. As far as I know , you can still link the PPF !

  29. Reema says:

    Hi All,

    It was very useful information. I did add my PPF account to HDFC bank, hopefully this work.

    Can somebody please help me with the information or a way out of whether in HDFC bank is there an option from where we can extract the details about the number transactions done to PPF a/c through HDFC or I will have to rely on the pass book entry.

    Thank you.

    1. I think you can get the bank statement from net and then sort it in excel , you will get all the PPF related details

  30. Biswajit Roy says:

    Hi..
    I’ve saving account in United Bank Of India and also I’ve net-banking facility..in the year of 2007 I’ve opened PPF account (Offline) at the same bank..so is there possible to pay PPF account via net-banking facility of United Bank Of India.

    1. Yes, it should be possible ! .. try what it shown in this same article !

  31. Pankaj says:

    How offen can I transfer the fund online in SBI bank PPF account?
    i.e. can I transfer fund 2 – 3 times in a months in the same account?

    1. 12 times in a year. . whatever way you want .

  32. Rengapwn says:

    Hi,

    I have a query on PPF, my self has PPF account in Post Office, and planning to open PPF acc for my wife in SBI as she has account with SBI. Now the question is can I deposit 1.5 lakh in my PPF account and another 1.5lakh in my wife’s PPF account?

  33. SPN says:

    Hi
    Is it possible to ask my credit card (SBI / HDFC / Tata Card / Citi Bank Card) to deposit a fixed amount from my credit card account to PPF account in SBI.

    Regards

    1. I think thats not possible !

  34. Rayan says:

    Hi Manish,

    I am having SBI NRE a/c, and PPF a/c (RI old account) in same SBI branch.

    What is the procedure to link both accounts?

  35. Sanjay says:

    Yesterday I opened a PPF account in SBI branch where I already have a saving account. The whole process took 5 mins. I deposited initial amount through green channel to the PPF account for which the a/c no. was instantly generated. By evening i.e., in 6 hrs I could see the PPF account linked to my saving account which I was able to access through net banking, and also I could generate statement for the same.

    1. Great

      Thanks for sharing that πŸ™‚

  36. DK Tyagi says:

    Maneesh ji, thanks for all the information shared

  37. dr c n patel says:

    i had ppf account with since last 1995 now i had transfer to sbi &sbi has oppened my ppf account with back dated effect but there is since last 20 days till now not deposited my ammount of check .when iasked from branch said not take proceezer of that post office ppf check . sbi branch in insearch of how to proceed ? so ihave to suffer for that now what happened when &how will proceed requested to guideline thanks

    1. Can you rephrase your query again, I am not able to understand your query !

  38. Neeraj Mittal says:

    HI

    What is the process to transfer the PPF account from PNB to SBI or ICICI bank.
    I had opened PPF accout on 2010 at PNB. Please help. PNB bank personnel do not know anything about it.

  39. PRAWEEN says:

    I have a joint saving bank account at SBI with net banking facility in my name. I also have a ppf account in SBI but in different branch in same city. I am not able to view my ppf account on line because SBI failed to link the two accounts. Is there a way to view the ppf account on line?
    I also opened a fresh ppf account for my wife from the joint account in the same branch where saving account is there. But now SBI is saying that ppf account of my wife can not be viewed on line from my net banking.
    Pl tell me a method for on line viewing of ppf account.

    1. You cant view it from your account, you can view it from your wife account .

  40. suhas says:

    Hi ,

    I have PPF a/c with Maharashtra Bank (MB), it has maturated , now i want to get saving funds transferred back. I have saving a/c with ICICI. can MB transfer the fund directly to my ICICI a/c. I spoke to them they are asking for DD charges ( Which is huge) or open saving account with them. it is big hassle as bank is very crowded as having huge pension a/c. bad at service. please advice how i can resolve the situation i do want to have a/c with MB also do want to pay DD charges as online transfer is easy & free. Please advice

    1. This is actually a big issue . PPF amount should be given as cheque directly, but I am not sure why banks charges these charges . Ideally they should be giving it back without any issue and charges. I suggest you take this clarity from Post Office directly via RTI !

      Banks cant do this .

      Manish

  41. Hemanth says:

    Hi Manish,

    I have just opened PPF account for my wife and myself at IDBI Bank. It is online and we can transfer the funds to PPF account using any bank account with NEFT. Do we still have to transfer the accounts to SBI? Is IDBI secure?

    1. No , you dont have to , if its working well in IDBI , then just continue !

  42. Sanjay Singh Dagur says:

    How to check the post office PPF Account balance on line.
    Kindly suggest me

  43. Colonel Zaysen says:

    I have a Savings Account in Indian Overseas Bank X Branch New Delhi. My PPF A/c is with State Bank of India Y Branch New Delhi. I had already added my PPF A/c-11 Digits core banking for third party transactions last year in Iob Net banking with Sb as the option . Today the 02-Apr-2014 as a test I transferred Rs 500/- from IOB Sb A/c to SBI PPF A/c via NEFT @ 07:00 hrs and by 09:00 the money was transferred and credit to the SBI PPF A/c. E-Mail Confirmation came at 12:00 PM. Even then I went to the nearby SBI branch and checked the same on their system screen and it was done.

    The main thing is PPF A/c should also have core banking 11 digits in case of SBI & 15 in Case of Indian Overseas Bank. Account Type is Savings.

    Colonel Zaysen

    1. Colonel Zaysen says:

      With reference to my eariler post, On 02-Apr-2014, I again transferred on 03-Apr-2014, twin amounts of Rs 99,500/- each from my own & my mother’s Iob Sb A/c to our SBI PPF A/c’s via NEFT. The NEFT was processed in the first batch @ 08:00 hrs and both SBI PPF A/c’s were credited @ 10:05 Hrs.

      Confirmation E-Mail from Iob For both A/c’s came today the 04-April-2014 @ 08:26 Hrs.

      This time I did not physically go to SBI and verify the credit and just accepted the e-mail received as proof of credit.

      Since agent commissions have been scrapped for PPF, transfers done via NEFT Internet Banking to SBI PPF A/c & for Income Tax Purpose kindly download the NEFT Final Transfer E-Receipt from Internet Banking which will show the NEFT Date, Unique Transaction No[UTR], Beneficiary Account No, Beneficiary Account Name, A/c #, IFSC Code of Branch & that Beneficiary Account has been credited.

      Colonel Zaysen

      1. Thanks for that info !

    2. Thanks for sharing that !

  44. Pankaj says:

    Hi Manish
    I have PPF account in SBI at Hyderabad. I have been using HDFC netbanking to transfer funds into this PPF account regularly. However, I have not yet checked by taking passbook printouts
    I have been relocated to Mumbai now. I want to know the balance statement of my PPF account
    If I open new savings account in SBI Mumbai and link by PPF account (in Hyderabad), it is possible to view the account transactions?

  45. sanjay says:

    Hi Manish,

    I have my PPF account opened in 2013 and SAVINGS BANK account opened in 2014 in different branches of SBI in New Delhi,I requested the staff at my savings bank branch to link both my accounts so that i could deposit the money online as well as view both the accounts online,especially my PPF account,but they simply refused it saying that it is not possible doing it,although i have internet banking access to my savings account.Is it true or are they simply harassing me?Is there any other solution?Kindly help.

    1. They are simply not co-operating with you . Just file a RTI on this or complain to SBI on this along with their names on their helpline number and it will surely help you

  46. ritesh says:

    Hi,
    I have a ppf account in sbi. Can I get my ppf passbook printed from other sbi branch, from different state. I don’t have sbi sb ac.

    Ritesh

    1. I am not very sure on this . Please ask it on our forum http://www.jagoinvestor.com/forum

  47. manjyu rawat says:

    I m having PPF A/c in BOB.I want to do online Payment .
    Please tell if i do Net banking Transfer by my husband’s account from Kotak Bank into my ppf Account is it possible???

    Tell me

    1. It will not work , because only SBI PPF can take online payments

  48. bhavin says:

    Hi Manish

    One more info. May have been shared earlier by some others.

    Now If you have netbanking of SBI account, SBI is offering to open PPF Account online. That too the branch you want to. It also provides the option to open PPF account of Minor as well. Good Facility.

    Thanks
    Bhavin

    1. Thanks for the information , can you provide me a link which says so ?

      Manish

      1. Bhavin says:

        Hi Manish,

        Its available in SBI Net banking. if You have SBI Netbanking click on e-Services from top menu. You can see “New PPF Account” link on the left hand side.

        Thanks & Regards,
        Bhavin

  49. bhavin says:

    Hi Manish,

    One more info. May have been shared earlier by some others.

    Now If you have netbanking of SBI account, SBI is offering to open PPF Account online. That too the branch you want to. It also provides the option to open PPF account of Minor as well. Good Facility.

    Thanks
    Bhavin.

  50. SUMIT says:

    HI Manish

    One query , i and my wife have a joint Saving account with SBI and now we both want to open individual PPF ( 1 for me and 1 for my wife) account with same branch . My wife is housewife and has no additional income .

    So will it be possible to link both the new PPF account to same joint Saving account that we have . And if yes , then is possible to tranfer money from same account to both PPF acc ?

    1. Hi Sumit

      Its a good question on PPF , but even I am not sure on this . Can you open a thread on our forum – http://www.jagoinvestor.com/forum . You will get the answer there for sure !

      Manish

  51. Suresh says:

    Hi Vivek,
    Whether IOB have the online PPF fund transfer facility now? I have opened the account in IOB recently. Some ppl say it has online payment but some say it doenst?
    It would be really great if you can provide me the details. Thanks in Advance.

    1. There is no facility of online payment internally. Only with SBI PPF its possible !

  52. Suresh says:

    Hi Manish,
    Whether IOB have the online PPF fund transfer facility now? I have opened the account in IOB recently. Some ppl say it has online payment but some say it doenst?
    It would be really great if you can provide me the details. Thanks in Advance.

  53. ramesh says:

    Hi Manish,
    recently two days back i have opened PPF in SBI along with SBI SAVINGS ACCOUNT. Is my SB account linkedup with PPF?
    please explore…….

    1. Yes, it should be .. you have to check your SBI netbanking after few weeks and check . If its not there, go to SBI branch and they will help you on that !

  54. Binu P Thomas says:

    Hi Manish,

    I have my PPF Account with BOI. Its linked with my SB account at BOI. Now i am able to see my PPF Account online. Please see the demo showed by Bank and its true.”http://www.bankofindia.co.in/html/Viewing_PPF_Account/index.html”

    I am able to see my account detail, transaction detail, interest rate etc online. Even i have option for depositing money to PPF from my SB account as standing instructions. Also i am getting the statements as excel sheets. Even i have option to transfer money from PPF to SB account aswell. Only issue i am struggling is to get a print out of the statements. Else BOI PPF is excellent.
    Binu

    1. Nice .. seems like BOI has integrated PPF in a great way !

  55. dipesh says:

    Had anyone tried it for IDBI bank. I have PPF at IDBI. Transfer of account is not good option as suggested by both bank as in case anything happens both are public banks. If I can transfer online in IDBI PPF then some of my suffering would be eased.

    1. I am not sure on this ,. but you have to check out on your own , have you tried linking ?

  56. Sharad Kumar says:

    Manish,

    One of my friend had opened two accounts of his wife of PPF by mistake. The first and old one is about to mature in 2014. The recently was opened in 2012. Please tell what are the complications (if any). Also if the interest is not given for account opened in 2012 , then its not a big deal. Also tell how to show it in the IT return ???

    1. Ask the PPF department on what is to be done in this case and they will guide you .

      1. Sharad Kumar says:

        Sir,

        I need guidance from you. These bank people are not guiding on this in any way.

        1. What guidance you need ?

          1. Sharad Kumar says:

            How to show in the IT return & what can be the legal implication if IT people come to know about two accounts.

            1. You will have to reverse the tax benefits if taken on another account

            2. Sharad Kumar says:

              I have not yet taken any tax benefits and dont want to take unless required legally. Also i am not showing in my IT return also. Is it Ok.

            3. Why are you not filing tax returns ?

            4. Sharad Kumar says:

              I am filing tax returns but not showing this ppf account in it.

            5. Sharad Kumar says:

              because having two ppf accounts is illegal. it is a mistake done. If these IT people see then they may create problems. ??. Am I Right ??

  57. Rajesh Kumar says:

    Hi!

    I have PPF account in Punjab National Bank, I have add the account number as payee as per above steps in my ICICI Bank Account. I have done transaction of Rs. 500 through NEFT, but transaction failed with remarks as “Wrong Account Number” My Account No. is in the sequence of 021100PPF00000000xxx.
    Can anybody tell me what I have to do?

  58. Hormuz Tamboly says:

    This facility is certainly useful for making online payment to our PPF account. But why this facility is only for SBI and ICICI account holders? something special about these two banks? Why not authorize other nationalized banks like HDFC, CENTRAL BANK OF INDIA to accept online PPF payments?. After all, these banks are also nationalized, and going by the public opinion, the efficiency of these banks is much better than SBI and ICICI! not to mention the polite and courteous service received every time, either at the branch or at their customer care call centre.

    1. SBI is the favorite baby of govt πŸ™‚

  59. Arun ganesh says:

    I have one doubt, we are contractors and we pay regularly pay PF dues. but know this month our employees are quit from job. so no one work our payroll, then i gone and ask to P.F office they said, u can temporary closed your number and u have to pay 7 rupees per month for renewal. what is the procedure to pay that 7 rupees.

    1. I am not clear about your question

  60. SB says:

    Hi
    Is PPF required to be opened only with SBI? I have an SB account with ICICI – can I open PPF account in ICICI and link it with my SB account for online transfer? Thanks.

    1. No , you can open it with other banks as well . In ICICI is fine !

  61. Manoj Kumar says:

    Dear Sir,
    I am Not able to transfer amount from hdfc to my ppf account.
    fund came back with areason Account doesnot Exist.
    Bank of baroda supports Neft transfer.
    more Over the account number they have provided has PPF word in account number.

    Bank of baroda officials says online transfer not possible to ppf Account.

    Please Help me.
    Thanks in Advance

    1. Manoj

      Online to PPF is possible and hundreds have done it already . Bank people do not know

  62. Nisha says:

    Hi Manish,

    I have invested in PPF through my ICICI Savings A/c, usually i do a online transfer thorugh ICICI A/c to PPF as per the facility given by the bank.

    It this a problem as i have read in your article that it is better to tranfer to SBI.
    Any particular reason……..

    1. NO it fine .. there is no issue πŸ™‚

  63. Rajiv says:

    Thanks Manish for the wonderful piece of information.
    I have a PPF account with the local Post Office. Can you please tell me whether i can transfer this PPF Account to SBI? Does Govt allows this doing?

  64. kishalay jani says:

    Hi Manish,

    i have PPF ac in BOI. pls tel me how can i transfer funds online from other banks.

    Do they have online transfer facility for PPF ? if not will change my PPF ac to SBI & for this do they charge me any transfer fees?..

    pls help..

    1. Its explained in the article itself , right !

  65. aditya says:

    dear manish
    the info was indeed useful. thnks πŸ™‚
    could you also advise what is the criteria of an inoperative account? i have not invested any amount the the FY2012-2013. will my account be inoperative and do i need to pay penalty for the same to get it operative?

    1. Yes, you need to pay a penalty of Rs 50 and Rs 500 for each year of inactive year . Not such a big issue πŸ™‚ . But the amount in PPF will keep earning the interest for itself

  66. Harish says:

    If i open PPF account today and this year i deposite 10000 but next year i want to deposite 12000 and then 9000 .
    Is it possible to deposite with different ammount in PPF or it should be constant throughout 15 year ?

    1. Yes , its possible

  67. Anand says:

    Hi Manish,

    I have opened PPF acct with IDBI bank. They have an application to pay online. Unfortunately it doesn’t work. I have sent a complaint on this.

    I am also unable to setup a payee from my ICICI SB acct online since the PPF acct in IDBI is like nnn-PPF-nnnn-nnnn-nnn-nnn which exceeds the length of the field allowed in the webform at ICICI πŸ™

    1. As far as I know till now only SBI can handle the NEFT payment through any other bank . So with IDBI , I guess it should be the case that you can make online payment only by IDBI linked account, like in case of ICICI PPF <- ICICI bank ..

    2. Francis Xavier R says:

      Dear Anand,

      You can transfer money from your IDBI Savings a/c to IDBI PPF a/c. Pls chk the below link:-
      http://www.idbi.com/press/Press-Release-1200.pdf

      If you don’t have a savings a/c with IDBI right now, pls open a new savings a/c using your PPF customer ID. IDBI Super Savings a/c AQB is Rs.5000 for Tier-A town and Rs.2500 for Tier-B town. Important feature is they charge only debit card annual fee and check bounce charge. They don’t charge for services like NEFT, Signature verification, ECS set-up, etc. You can open the a/c using their online a/c opening facility. Check below link for schedule of charges:-
      http://www.idbi.com/pdf/soc09/Super-Savings-Account.pdf

      ICICI charges if the MAB (not AQB) is less than Rs.10,000 in savings a/c. But you have to pay for NEFT, Signature verification, etc. (may be waived for salary a/c holders. not sure!).

      1. Anand says:

        Hi

        I have a IDBI SB A/C and PPF a/c via IDBI. They are linked, I can see them on my online banking account. I am trying to debit from my SB and pay into PPF. But fails. I have lodged a complaint with IDBI.

        Thanks for your replies, Manish, Francis

  68. Nilam says:

    Dear Sir,

    I dont have saving account but I hve PPF account in S.B.I can I make online payment of PPF from my husband or Brother saving account which is in S.B.I. or from any other bank to S.B.I PPF account?

    Regards,
    Nilam

    1. You can transfer money from any bank account to SBI PPF account

  69. Abhishek says:

    What documents needed to open PPF account?
    Also does any thing required for two referee who signed?

    1. You just need address and identity proof !

      1. Abhishek says:

        Hi Manish,

        Thanks.
        I opened my PPF account with SBI,
        Just with PAN card and driving license photocopy .
        They just asked my SBI account no and done!

        Took 10 mins.

        I paid very first PPF premium online with SBI net-banking.

        Manish, your articles helping alot . Keep Going .

        Now I am looking for best SIP to start up for short term goal.. πŸ˜‰

        1. Thanks for sharing that πŸ™‚ .. its so easy !

  70. Ashwin says:

    Hi Manish,

    I have opened a SBI PPF account in the same branch of SBI where i had a SB account on 9th of February 2013.
    My query is
    1. What date is considered as my Account Opening Date?
    2. Will the interest be calculated for the amount in the PPF Account for the current financial year 2012-2013 or is it like interest will be calculated from the next financial year?

    Thanks!!!

    1. Ashwin

      1. It will be 31st Mar 2013

      2. No , it will start now onwards itself !

      1. Ashwin says:

        Thanks Manish…. The information was helpful πŸ™‚

  71. Sarath says:

    Hi Manish,

    I think this question has been asked before.. I have a PPF in State Bank of Hyderabad. Can I do an online transfer from ICICI and get the money into it? Any new updates?

    And is the bank statement only proof that I could show for tax reduction or is the ICICI bank statement of the transfer enough?

    Thanks,
    Sarath

    1. Sarath

      That should be possible .. yes a icici bank statement should be enough .

  72. Satheesh.A says:

    Hello Manish,

    I have opened a PPF & savings account in a different SBI branches.

    But how do i can check the balance at PPF account through online?

    One possible way of entering in passbook is, i am aware of it.

  73. Suman Kumar says:

    Hi Manish.
    I want to know what should I write as reference number for PPF payment in form -C.Whether it is the PPF account number itself or the transaction code for that perticular transaction.
    Thank you.

  74. Chet says:

    Hi there! I’m at work surfing around your blog from my new iphone 3gs! Just wanted to say I love reading your blog and look forward to all your posts! Carry on the excellent work!

  75. sandy says:

    Hi Manish
    Thanks a lot for prompt response.
    I asked for direct transfer to avoid the time taken in transfer as she dont have an online account facility.
    Anyway once again thanks for prompt reply & would like to appraise your gr8 contribution in educating people on such points.

    1. I think you should check on our forum for this – http://www.jagoinvestor.com/forum/

  76. sandy says:

    Can u pls help me out on the followiing questions

    1) Can i transfer money from my ICICI Saving account to my spouse PPF account with SBI
    2) If Yes,Will my spouse able to ge the tax benefit or not

    1. Sandy

      1. Yes
      2. Yes , but why dont you ask her to transfer it herself, better you give her the money

  77. Rajiv Sinha says:

    I have a PPF account in SBI. Is it possible to view/assess the PPF credit balance online on the bank’s portal?

    1. Yes, thats what people do who have SBI PPF .. Talk to your sbi branch and ask them how to connect SBI PPF to your SBI account . It can be done .

  78. Archana Ziradkar says:

    I added an account and transferred Rs. 500, which worked. My question is, where will I get a receipt from?

    1. You will not get a seperate reciept like that .. the entry can be made in your passbook when you visit the bank or the statement will also show the transfer, that should be enough

      1. Archana Ziradkar says:

        Thanks, Manish!

  79. Priyanka says:

    hi,

    i have opened a ppf account in Bhopal with sbi. if i do an online transfer, is it somewhere wriiten in the mandate that the bank statement showing the amount deposited would be accepted as tax claim benefit? what if my company fails to accept?

    also, since i stay in Hyderabad, i face lot of problems in getting my passbook updated. the banks here don’t do it, say i need to transfer my account to this city. Do i have to do that by any law; if so, then what is the procedure?

    1. There is no requirement like that . you can get it updated from anywhere. JUst tell them you will enquire using RTI and they should start doing the right thing

  80. Ganesh says:

    I had my Wife PPF account in SBI Ulsoor Branch. Opended in 2011. When I went to Pay amount today, I was shocked! The clrek said the account is been closed in 2012 and she cant take the money. I am not sure what to do now. Please let me know what should I do and I originally invested 25K. I am clueless of the reason why the account is closed and what should I take it as Next Step.

    Please advice.

    1. Dont panic . There is nothing like a CLOSED ACCOUNT and you cant get back the money . I think he meant its Inpoerative . Did you put any money in 2012 or not ? If not , then may be its just suspended and you can renew it by paying Rs 50 penalty + Rs 500 for that lost year .

  81. sankalp says:

    Hi Manish,

    First of all a very happy new year to you.Thanks a lot for this excellent writeup.I tried the method mentioned by you.The amount i believe must have got credit to my PPF account (i.e with SBI Lucknow branch).
    I currently am in Noida and now as the time has come for submitting investment proofs in my organization i want to know how can i get the recent amount reflected in my savings.
    SBI noida branch nearby to my place are asking unreasonable Rs 100 for just a single line of printing in my PPF passbook.
    Is there any other way to submit the proof?

    Thanks and regards
    Sankalp

    1. How can they ask that amount ? Ask them which charges are these ? Are they as per the guidelines, tell them you want to enquire using RTI on this and ask his name also !

  82. Mayuresh says:

    Excellent writeup Manish. Was looking for this info for a long time. Thanks a lot.

  83. Amit Khera says:

    Hi Manish,

    I have a PPF Account opened with SBP (State Bank of Patiala),is it this online tranfer of money possible to PPF Account in this Bank?
    Since this is an Associate Bank of SBI,and the all Associate Banks have been cored under SBI,I think online payment should not be a problem if PPF Account is with SBP also.Please confirm.

    1. I am not sure on this , the requirement is that the PPF account has to be with SBI , Now I am not sure if the associate banks would do !

      1. pp says:

        Yes. This works. I was able to transfer Rs 500/- from ICICI saving a/c to SBI PPF a/c online successfully. I called ICICI call centre before executing the transaction, but i was told it is not possible. However, i trusted these posts and screen shot and proceeded. It worked. May-be the call center team is not educated / informed on this.
        Thanks and ton. This is saved lot of time standing in queue at SBI branch.
        Regards, pp

        1. Prashant ..

          Call center guys know what they are taught by their training teams !

  84. Pramod says:

    Hi Manish
    I opened ppf account in SBI where i have a savings account with the same branch.
    I did mistake where my sir name was wrong in my bank account details
    Now my ppf account also contains the wrong sir name.
    I changed my sir name in bank account but they said they dont touch ppf account.
    so what is the procedure to modify my sir name to correct one in ppf account.
    or can i transfer to other bank with correct name.

    1. You will get this info either by RTI or by putting a question on our forum – https://www.jagoinvestor.com/forum/

  85. Diya says:

    Hi Manish,

    If i open a ppf a/c with rate of interest 8.8 % on JAN-2013 & after that on March-2013 it will change then ppf will calculated as per changed rate or 8.8 % ? please explain.

    1. It will be changed then , note that interest is added on monthly basis – https://www.jagoinvestor.com/2012/02/how-ppf-interest-is-calculated-video.html

  86. Abhijit says:

    Got an intimate from accounts in my company to get the documents to support the investment forecast done in the month of July 2012 now trying to locate those investment proofs however SBI’s utility to get the PPF contribution statement online is so easy however keep in mind that you can only get the statement online for last 6 months only not beyond that.

    Thnx Manish for the idea to get the PPF account & SBI for the convenience.

    1. Thanks for sharing that !

  87. pavan kumar says:

    Hi Manish,

    Iam an avid reader of your financial instructions and they are very useful!!
    I have one doubt regarding transfer to ppf online, If I do money transfer from my citi bank account to my sbi ppf account,how to claim the tax benifit?will the citibank account statement be enough for tax proof?if i have to go to the sbi branch to update ppf book about online transaction then it kinda beats the purpose of doing online transfer…
    Thanks,
    Pavan

    1. Pavan

      Yes , the online receipt should be good enough to claim it .

  88. Sachin says:

    Hi,

    Thanks for the useful information on the site. One question from my side is that can I get my PPF passbook updated from any SBI branch or do I need to visit the branch which holds the account?

    Many Thanks,
    Sachin

    1. Only where you hold the PPF account, not on any branch !

      1. Sachin says:

        Hi Manish,

        I was succesful in getting the passbook updated from a different SBI branch. They also said that since it is a nationalised bank you can get it updated from any SBI branch whether you have an account there or not πŸ™‚

        1. Great .. good to hear that !

  89. Josh says:

    Hi Manish,

    I chanced upon your this website via Google search a while ago and now I am regular reader.

    Thanks to your article, I know what a PPF account is and opened up an account with SBI as well.

    Thank you so much and keep up the good work, you articles are really helpful especially for financial illiterates like me πŸ™‚

    1. Thanks Josh πŸ™‚

  90. Parag says:

    What i understnd is that i can do following:
    1. Online transfer from my SBI Saving account to my PPF A/c with SBI by first adding it as beneficiery.
    2. Online transfer from my SBI Saving account to my SON PPF A/c with SBI by first adding it as beneficiary.
    3. What i want to know is: Can i transfer online from my HDFC Saving Bank Account to my PPF account with SBI?..If not why..?

    1. You can do all the 3

  91. Sunil says:

    I and my wife have PPF and savings accounts at PNB, Delhi. Our savings bank account are online with PNB. I wanted to know whether the PPF accounts which is with the same PNB branch be made online. This way we would be able to see the amounts in our PPF accounts along with our other accounts. Also, would appreciate if we could make the annual transfer to these PPF accounts online. If this is possible, this will make life easier as we are not in India.

    1. yes , you should be able to connect your saving bank to your PPF account, do exactly what is mentioned in this article

  92. Pradip says:

    Dear Manish

    I have a PPF a/c (more than 15 years old), in SBI in Kolkata.
    I wanted to withdraw the entire amount.

    For this, shall I transfer thru NEFT to ICICI PPF a/c & then can I withdraw the amount ?
    I have a savings a/c in ICICI bank .
    Regards

    1. I didnt get you , you want to take out your PPF money , right .. either you will get a cheque or you will get it back in your SBI account

  93. Sai says:

    Is there any problems with the tax related if i transact through online 2 lakes at a time in icici bank through online banking..

    1. No there is no tax issue on that

  94. Abhijit says:

    I think that’s the great advantage of having both the accounts in the same branch.

    When I logged with my saving account user ID, I can see the accounts PPF account as well as my saving plus account. I can see transactions till date.

    Now, there is no need to add PPF account as Third Party in this case. As the PPF account is already there as a separate account, I can transfer amount using option transfer—> your own account in SBI.

    It’s a great utility & all the credit goes to Jogo Investor where I am learning things & using it to execute.

    Thanks

    1. Good to hear that Abhijit !

  95. Sureshbabu SVCH says:

    Dear Manish,
    I have not deposited any amount since 3 years in PPF account existing at ALIBAG SBI branch in Maharashtra.How much penalty i need to pay? Is it possible to me to deposit amount online with penalty ?

    1. You cant do it online , you need to pay 150 (50 X 3) + 1500 (500X3) and revive the account

  96. Savingfunda says:

    This really looks a hassle free way of transferring money to PPF account. thanks for sharing this nice tip.

    1. Yea it is , and you can also see so many people doing it , read the article comments

  97. Praveen K says:

    Hi manish,

    is it still true that online transfers into PPF account is only possible with SBI PPF acount? I have a PPF account with IOB, should I transfer it to SBI or should I wait till IOB PPF a/c also gets this online facility

    1. As of now SBI only has online facility . It would take time for IOB to get that kind of facility. Better transfer it to SBI

  98. Ashish says:

    Thanks for all the info… I have a doubt slightly away from the topic.

    Q : Will my wife get the tax benifit on her PPF account, even if I am transferring funds in her PPF account? (I know it sounds dumb, just want to be sure)
    One of the banker told me that only she should transfer the funds to her ppf accont for her to get the tax benifit, is that right???

    1. Yes ,she will not get the tax benefit , because its not her money !

  99. Abhishek says:

    Hi,

    I have opened a PPF account in ICICI which comes under 80 C tax exemption.
    But ICICI doesnot provide any challan or passbook for PPF as it is online account.
    I have a query that Will the screen shot of the PPF account statement work for Tax exemptions.

    1. Abhishek

      Yes .. an online printout should be enough

      1. Saurav Kataruka says:

        The statement should clearly mention that the account is PPF account. But ICICI online statements don’t give all the these details about the account as far as I know and as confirmed by another member here -https://www.jagoinvestor.com/forum/is-ppf-in-icici-safe/3423/

        Manish – I don’t have a PPF account in ICICI yet. If you are using one can you verify this and communicate with ICICI regarding this. Else, can you add a post or article about this. Some ICICI PPF account holders are already facing this issue and I think many have not yet realized as most accounts are opened recently because ICICI started advertising the online PPF option very recently only.

        1. Even I dont have PPF in ICICI . Not sure on this point .. will have to find more on this

  100. Vijay says:

    can i withdraw my PPF amount after one year ? please ans:

    1. Yes you can , but you need to leave your job for that , and the money will be taxable !

      1. Sachin says:

        What .. How ppf is related to job ? I think manish u confused with pf

        @Vijay no u cnt withdraw
        Thanks

        Sachin

        1. I meant EPF in that case

          1. Sachin says:

            yeah in that case you right , cheers !!!

  101. Rajat says:

    Dear Manish,

    Kudos to you. Doing a wonderful job. Even educated youngster like me wasnt aware of such online transfer facility for PPF account. And I can never expect the inefficient SBI to make the investors aware of such things. This is primarily a job of SBI, but its sad and pity that other people have to come forward and take this initiative of educating general public.

    Actually I got pissed off when I have to literally fight with the SBI branch manager of Thakur Village Kandivali Branch Mumbai to accept HDFC cheque as a deposit for my PPF account which was registered under another branch. They said they will accept only cash/SBI cheque and if I have to deposit other bank cheque I have to go the same branch where my account is. I lost my temper – how could they even say this. Finally after a fight for 10 min when i asked them to give in writing – they accepted it. Horrible, bureaucratic, orthodox bank in todays age.

    I recently made online transfer to my PPF account via HDFC bank following your procedure and it was a success. You made my job easier. Thanks buddy.

    1. Great ! .. next time you face an issue in SBI , do one thing . SBI comes under RTI !! … just file a RTI application and seek the information and throw it on the face of those people (assuming you are correct in what you said) … πŸ™‚

      They will shiver !

      Manish

  102. Ranbir Singh says:

    Sir,
    I want to transfer my PPF account from post office to state bank of patiala, garhshankar, Punjab.
    Pl. help me how to transfer.
    Thanks

    1. I am planning to write a detailed post on this, will give you that very soon !

  103. naresh says:

    if i pay money to my SBI PPF a/c from my ICICI savings a/c what can i do for the receipt through which i can save my tax?

  104. Srinivas says:

    i have a/c in andhra bank i can transfore the money in to PPF

  105. Rajeshree says:

    Hi,

    I added my PPF account as Third party beneficiary to my saving account in Citi, but I got a message from Citi informing the money was not deposited and is reverted back to my saving account. My PPF account is with SBI as I have got a SBI passbook as well. My PPF account was opened by an agent and now with the new rule that came up as per which the agents dont get any benefit, she had asked us to add the PPF account as Third party beneficiary but when I did that as mentioned it did not work. What needs to be done now, I am little confused??

    Regards,
    Rajeshree

    1. Muthu Krishnan V says:

      I was able to transfer from citi to sbi. verify the account number, name, ifsc code. also you need to enter the new PPF number (10 digits i think) and not the older one.

      1. Rajeshree says:

        Yes I tried adding 10digit new PPF number and with the correct IFSC code as I already have SBI passbook it was easy to get all the right details. Could there be any other reason? I tried to transfer money once again today to check, lets see what happens. or else may be I will have to visit the SBI branch.

  106. praveen says:

    Hi,
    I have a SBI PPF acocunt. When i try to map it with ICICI for online transfer, I dont see respective SBI IFSC code listed in ICICI website to select the SBI branch. MY PPF SBI branch do support online accounts.What should I do?

    1. This should not happen , you can also add the account with the address also , right ..

      1. Praveen says:

        Yes,I was able to add by address of Bank.tahnks Manish

  107. Ashish says:

    Hi,

    I want to transfer PPF account from Bangalore to my Hometown….(SBI to SBI) in which branch should i go to transfer my account? and can u please give me detailed procedure for doing that?. And I want to link my PPF account online as well. I dont have savings account with SBI as of now, after transfer if I open the savings account will it be linked?

    1. Ashish

      You can still do the linking right now , open a saving bank account anywhere and ask for linking the SBI PPF in another branch or do it on your own online using NEFT linking as explained here .. If you still want to shift the PPF , then go to the target bank and ask for a application and fill it and give to source bank

  108. Avinash says:

    Hi Manish,

    I have a PPF account with Post Office. What all do I need to do to get this account transferred to SBI?

    Regards,
    Gagan

    1. You will get a form from SBI on this

  109. prashant says:

    Hi manish,
    I have open a PPF A/C in SBI Bhubaneshwar, and now I m in Delhi can I tranfer my PPF A/C to delhi ?and how can I update my pass book.???/
    Regards,
    Prashant

    1. you will have to transfer it first ..

  110. Ravish Hasija says:

    Hi Manish,

    I have an ICICI savings account and i wish to open a PPF account in the same. Is there any catch between a PPF in SBI vs PPF in PO vs PPF in ICICI?

    Regards
    Ravish Hasija

    1. No Ravish

      there should not be anything like that, just that SBI is standard place of PPF from so many years .. thats all

      Manish

  111. mahen says:

    Hi,

    I have a PPF a/c with PNB at my home town but I my temporary residence is in other city for last few years. My PPF a/c does not have online fund transfer facility. I visit my hometown hardly once in a year and find it very difficult to deposit money in PPF the a/c. It is because of tight schedule during my visit to hometown and long line of depositors in PNB. My source of income is through ICICI bank. In view of this is it advisable to open an a/c with ICICI on my minor son’s name and deposite most of the annual contribution in that a/c. I hope I can get tax benifit on total of 1 lac only. But can I get tax free interest income on diposits of both a/c upto the limit of 2 lacs altogether? Also I am sick of that PNB a/c because it does not allow online trasfer of funds. Can you suggest me better options. Thanks and regards.

    1. Why dont you transfer the PPF account to ICICI or SBI once .. That would be one time task and then you can use this . Yes if you invest the PPF money in your minor son account, the income would be tax free from both the PPF accounts

      1. Mahen says:

        Thank you Manish. I am not aware if the PPF a/c even can be tranferred. Your prompt reply is really appreciated. I will try for the transfer of a/c.
        Thanks a lot.

        1. Fill form 13 for transfer

          1. Santosh Prasad says:

            Form-13 for PPF Transfer? Manish, are you talking about EPF Transfer?

            1. Eh.. yea i was talking about EPF πŸ™‚

  112. Smita says:

    Hi,

    I have SBI PPF and saving account in same branch of SBI and i am able to do fund transfer. PPF account number is visible is list. if you want to transfer money from you same SBI saving account to PPF account, go to Fund transer and transfer money :).

    Smita

    1. thanks for confirming this !

  113. Abhishek says:

    Hi,
    I want to transfer my SBI PPF account to another branch but i couldnt get the transfer form. Can you help to get me the link to download the transfer form from SBI or send it by mail. Thanks! Abhishek

    1. That will be given by SBI only . I am not sure of the link . Please enquire in forum : https://www.jagoinvestor.com/forum

    2. Anand says:

      There is no transfer form as such. Just give the request on a plain paper.

      1. Santosh Prasad says:

        Yes, one has to write an application on plain paper. I also did the same thing and my PPF A/c was transferred from one SBI branch to another SBI branch within 2 weeks.

  114. Arun kumar says:

    I have saving account in State bank of Mysore. Is it possible to open an PPF account via SMB bank?

    1. I am not sure of that . Its not subsidiary of SBI i guess ..

      1. Arun kumar says:

        It is possible to open a PPF account in SBM, but not in all the branches. Only selected recognized branch has this facility. But as per the Branch manager it is not possible to pay the premium via online. Can you pls guide how to pay the amount online.

        1. Arun

          Did you follow the procedure mentioned in this article ?

        2. Arun kumar says:

          I have few more quires,
          1. I have opened the account on may-21, so I should pay the amount every month on same date? or can i pay whenever i get money?
          2. As per bank manager only 12 installment per year is possible to pay to cover 1 lakhs per year. Is it possible to pay 1 lakhs as single installment

          1. Yes Arun

            You can pay 1 lac in one shot or you can divide it in any number of part (max 12)

            Manish

  115. Saurav Kataruka says:

    Sad really, the service of SBI at branch and customer care is pathetic. Noone knows a thing. I happened to visit the branch today and enquired about PPF account access online. They dont have a clue and said it is not possible. When I said that many people are using this feature, they said if it happens then it is possible but we dont know this. I am confused whether to open PPF with SBI or not. What exactly should I ask them to do at the branch to link PPF to online account? Plz help.

    1. Saurav

      If you open the SBI bank account and PPF at the same branch , dont worry , it will happen on its own ! .. else you can link them later !

  116. Saurav Kataruka says:

    Hi,

    Thanks for this very useful post. Appreciated.

    I have recently opened a Savings Account with SBI and got the Internet banking access. I opened this account just because I intend to open a PPF and want to access it online. It has been so far a pain with SBI having to visit the branch everytime for everything. The Service Manager does some mistakes everytime, and it took me 5 visits to the branch to get net banking working. I am yet to open a PPF account. I have now a different query though:
    I have savings account in HDFC, ICICI and IDBI. How to add my new SBI account as beneficiary in all these accounts for 3rd Party transfer. I know the process but a bit confused about the account number and how many digits should i enter when registering my SBI a/c as a beneficiary from hdfc, icici and idbi netbanking. should I just enter the 11 digit sbi ac number or add some leading Zeroes to make it 16 or 17. Plz suggest.

  117. Swarup Saha says:

    I have a joint sb a/c with my wife in SBI where my wife is the primary account holder.I have a PPF account in my name in the same SBI branch.Can I merge the two accounts and use the online facility ?

    1. Yes you should be able to do that .. talk to SBI branch on this

      1. Swarup Saha says:

        Thanks Manish…lets talk to my branch and will let you know the updates

          1. Swarup Saha says:

            Thanks Manish…..talked to the concerned branch and got my online facility activated.The details of my PPF a/c are also shown online…….makes life EASY… πŸ™‚

            1. Great πŸ™‚ … You will really save some trips to banks !

  118. Dnyaesh says:

    Hi manish

    Reading your articles regularly & one of the best site for investors like us.

    my doubt is transferring from any bank a/c to PPF a/c is free or any charges are deducted from sourcing bank?

    thanks

    1. Dnayesh

      No it should be free ..

  119. Dnyaesh says:

    Hi Manish

    Is any introducer requires to open a PPF account as i am not having any account in SBI

  120. Mukul says:

    I was able to successfully deposit money in my PPF a/c using internet transfer. I was able to do a NEFT transfer from my ICICI bank account through ICICI website. In ICICI website, I defined my PPF account as SAVINGS account. The PPF account is in SBI where I do not have savings a/c. I do not have internet facility in that SBI account.

    Wanted to share this with rest of the folks.

  121. Pawan says:

    This is very very imp information, thanks for sharing. I was searching a lot of website but this is where I go what I precisely wanted.

    1. Thanks Pawan

      Good to hear it was helpful to you

  122. Wilson Jebanesan says:

    Hey Manish,
    can u clearly tell me how PPF works … do i need to put money every month are can i put money wenever i have…
    my S/A is in SBI… so do i need to open a new account for PPF…
    I have my salary acc on ICICI bank.. so can i dir transfer money every month to PPF acc if i have one on SBI?
    how does it work

    1. You can open a PPF account either at SBI or ICICI Bank (SBI is preferable) . Now you can invest in your PPF account whenever you want, just that Rs 500 per year is minimum to be invested

      1. Sanghmitra says:

        why SBI for so long is preferred for PPF a/c…why not ICICI which is having a secure position in india?

        1. Because SBI is doing it from last 40-50 yrs !

  123. Harshit Patel says:

    Hey Manish,

    This is a Very Useful article !!

    I have a PPF Account in “BANK OF INDIA”, can i transact in “Bank of India” PPF account using ICICI Bank. Or First I have to transfer the entire “Bank of India” PPF account to ICICI Bank and than Transact online ?

    1. You have both the option

      1. Link your PPF account to your ICICI account and try to make a payment . This should “mostly” work
      2. Shift your PPF to Bank of India if it has , and then make the payment

      Try 1 first

  124. Amit says:

    Hi Manish

    This facility is great! I tried it in the same way with HDFC Bank and the transfer was done. I checked with the Bank PPF clerk and she said this type of NEFT transfer was fine..

    Thanks a lot for the information!

    Amit

    1. I know πŸ™‚ .. thats why I shared this info with you all .. now you share it with others !

  125. I am a PPF Member; my daughter has started working in Mumbai and she wants to contribute to my PPF A/c; can she e-pay in my PPF A/c with SBI ?? pls do guide me
    Thanks & Regards

    1. It should ideally be done by you .. but she can always login in your name and make the payment . Ask her to drop a cheque to your account if possible

      1. Tqu Sir for the valuable advice. Vande Mataram

  126. k.suresh says:

    I am opened ppf a/c at chennai from 2003
    now i am lived in hyderabad
    what way to transfer ppf a/c from chennai to hydrabad
    please give me a best way please
    Thanks&regards
    suresh

  127. dharmesh Modi says:

    Hi, I am Dharmesh Modi from Ankleshwar, Gujarat..

    i want to know regarding PPF Procedure for Interest & maturity i.e
    every year in the month of March I have deposited Rs. 5,000/- for PPF in Post but they have passed the Entry for Rs. 27 as a interest so don’t know they have passed the entry for whole year or only for March ??

    as well as how much Amont i will get after 15 yrs on above basis (deposited the amount in March month)..

    kindly give me suggestion if any happens, so now onward i will amend the errors..

    Rgds,
    Dharmesh Modi..

  128. Avinash says:

    My PPF a/c has completed term of 15 years, once I had applied for addtional 5 years term through From H. Now this additional 5 years term will be over by Sep,2012. I would like to know how any times we can renew this term. My a/c is with SBI, will you suggest me how to get form H.
    Regards,
    Avinash

    1. Avinash

      You can do it unlimited number of times

  129. Dharmesh Vyas says:

    Hello Manish,

    Thanks very much for such a nice article. I have a question
    – I want to transfer my PPF account from Bank of Baroda Gujrat to State Bank of India – Pune
    1) Is it possible to transfer the account?
    2) In such case do they close the account in Bank of Baroda and open a new account in SBI OR my same account would be transferred. I am asking since my existing account is 7 years old, now suppose I transfer the account would I be able to do partial withdrawl as per the PPF rules ?
    3) Could you please tell me what procedure to follow for transfer of the account.

    Thanks in advance
    Dharmesh

    1. Dharmesh

      Yes you can make the transfer and it would be the same old account. All you need to do is fill up a form at the SOURCE (Bank of Baroda) bank and then contact SBI Pune …

      1. Dharmesh Vyas says:

        Thanks Manish,

        My uncle worked with BOB, handled PF deot – told me that it’s the Destination bank (SBI) which should be contacted, I enquired at the SBI branch and they said it’s the BOB to be contacted.
        Could you please confirm that it’s the Source bank which is to be contacted and no formalities that should be done at SBI (like submitting the PPF Passbook, a request to transfer the account)?

        1. Dharmesh

          source branch has to be contacted for sure .. but then I am now in confusion if the target also has to be contacted .

  130. RKG says:

    Manish

    One big question t you? interest on PPF account is credited at the end of financial year. If i choose to transfer my PPF A/c from Post office to SBI in the mid of the year, how shall i get interest from post office ?

    1. RKG

      thts a good question, but I am not clear on that .. mostly your balance of interest must also be carried over to new branch ! .. why do you worry on this , it will happen without you knowing that it happened !

  131. Rohit says:

    Hi, I have a PPF account in SBI jammu, now I am in Pune. Can i update my PPF Passbook from Pune SBI from any branch after being online payment. Because i just checked with SBI employee and he refused to update my passbook. He told me you need to update your passbook from your home branch. Is it the actual case? kindly respond.

    1. Rohit

      I dont think so , you should be able to do it from the main branch in this city itself .. Kindly ask it on our forum

  132. Nawraj says:

    Thanks a lot Manish for posting valuable inforamtion . It cleared most of my doubts.
    Now i am convinced to invest in PPF after going through your articles !!!

    1. Nawraj

      Great .. did you open one ?

  133. anji says:

    i have recently opened PPF account . i want to transfer online using SBI. can i transfer money to my ppf account from my father account it is joint account.

    while submitting tax will there be any problem ?

    1. Anji

      No I dont think that should be an issue

  134. Saloni Desai says:

    I have a PPF account in SBI Bangalore, now I have shifted from Bangalore and currently in Hyderabad. Do i need to shift my account in hyderabad or is it ok if i give a change in address …does the account still remains in the Bangalore branch ?

    1. Saloni

      Yes the account will stay in Bangalore only , but for now I thikn you are hurrying to transfer it .. just keep making the payments in PPF every year .. but at the time of maturity you will need to go to that same branch !

  135. anuj says:

    Hi Manish,
    could u please tell me that , is there any difference if i deposit whole amout in march for that financial year or if i deposit on a monthly basis throughout the year in which one i will get more interest ? what is the yearly cycle of ppf interest calculation i.e either from jan-dec or apr-mar.

      1. anuj says:

        Manish,
        thanks a lot for clearing all my confusion regarding transfer of amount from icici to ppf and secondly for the ppf interest computation.

  136. Giridhar says:

    Hi, Has anybody linked their SBI NRE account with PPF account? I have the two accounts in different branches and they are telling me that they cant be linked. You know many times if they dont know how to do it they simply say it is not possible, so just wanted to see any precedents

    1. Giridhar

      Why do you even need anyone to confirm this . just follow the procedure explained in this article , if it is successful , then you can see that it happened , else not !

  137. Rupesh Kumar says:

    Hi Manish,

    I have a HDFC account and if I want to test with Rs: 1 to SBI PPF account will it work? Because I try to do that but failed to deposit online.

    1. Rupesh

      I am not sure if Rs 1 will really have successful entry, but may be Rs 1 is not allowed at all.. I would say do Rs 500 , either it will go in PPF or else it will come back , so dont worry so much on the amount !

  138. Monika says:

    Valuable information , especially for people who out of India at the moment πŸ™‚
    I and my husband have ppf in SBI and PNB respectively. As mentioned in the article above , tried sending money to Sbi ppf account through ICICI third party transfer using NEFT .
    The money got credited in 2 hours πŸ™‚ so damn easy .
    Will try the same for PNB in April …

    1. Monika

      Good to see that it made your life easy ! .. Share this knowledge with others !

  139. Arun says:

    Just some info: ICICI’s netbanking site seems to offer an online PPF account as of today. You fill in your details, take a printout, and mail the stuff to ICICI. Once the documentation is done, a new PPF account is opened and you have electronic access to your PPF account.

    1. Arun

      Good to hear that .. so you are saying that one does not even need to visit the ICICI bank for this ?

      1. Vineet says:

        Manish,

        Here is what ICICI bank site says

        Apply for a PPF account
        Step 1: Fill in the details required for opening a PPF Account
        Step 2: Take a print out of the pre-printed form, affix your photograph and sign on the form
        Step 3: Submit the application form and the nomination form to any one of our branches
        The PPF account will be opened only in a designated branch of ICICI Bank authorised by the ministry of finance. To view the list of these branches please click here . Please mention the name of the branch where your wish to open your PPF account on the application form

        It seems that account is opened in only specified branch (e.g only fort in Mumbai list at but form can be submitted in any branch. Would be interesting to know if they can accept transfer of account from other bank.

        1. Vineet

          I am sure that the online transfer from other account should work even in this one !

          1. Vineet says:

            Manish,

            I am not talking about online transfer of money. I am sure it will work. I am talking about moving PPF account in SBI or BOI to ICICI.

            Vineet

            1. Vineet

              Yes you can do that and it does not require a SBI Bank account also.

        2. Suunil says:

          I agree with you Vineet. We have to visit to any ICICI Bank branch with pre-filled form. We have to follow all 3 steps which you have mentioned.

        3. Suunil says:

          Manish and Vineet,

          I would like to add one more thing regarding opening the PPF account through ICICI Bank. I visited ICICI Bank, Sector-7, Dwarka, Delhi branch (with pre-filled form). They need one cheque and your address proof document also. Cheque should be of same amount which you want to deposit in PPF account. I had to visit 2 times for the same. They are saying that for ICICI PPF account opening is new thing. If they need anything they will let me know. They are not sure how much time it will take to open.

          I am giving the list of all the documents which I have submitted so that other can take benefit:

          1. Steps 1 to 3 are same as given by Vineet. You will have to fill some more details by hand like nominee details, etc.
          2. Address Proof. Copy of passport, Telephone Bill, Electricity Bill, etc. I submitted copy of MTNL Bill.
          3. PAN Card
          4. ICICI Bank Cheque.

          I will update more information whenever I get status from ICICI bank.

          1. Thanks for update , please update about this more !

            1. Suunil says:

              Hi Manish,

              My PPF account is opened in ICICI bank. They did not ask any other paper or formalities. I took 10 days (including non-working days) to open. Till now its smooth operation. Lets see whats in future.

            2. Thanks for updating that .. let us know if you face any issue in future !

            3. Suunil says:

              Hi Manish,

              My PPF account is opened in ICICI bank. They did not ask any other paper or formalities. It took 10 days (including non-working days) to open. Till now its smooth operation with ICICI Bank. Lets see whats in future.

            4. Parag says:

              Hi Suunil,

              Can you see your PPF balance online.

            5. Suunil says:

              Yes Parag, I am able to see the balance online.

              Manish, can you delete my reply no. 244 as it was submitted twice? Sorry for the inconvenience.

  140. Partha Sarathi says:

    I have a ppf a/c at Post Office. I want to transfer it to SBI. Where can I get the form for a/c transfer. Is it available online?

  141. Nataraj says:

    I have HDFc bank savings account and PPF account with SBI. I registered the PPF account in Third Party Transfer and tried transfering a small amount. To my surprise the transcation went through and i confirmed this by getting the PPF account passbook updated. Note: There is no option in HDFC to select the PPF account as PPF but rather register just as Savings account and it works.

    1. Nataraj

      Good to hear that it worked for you , I am sure this will make your financial life a little simple πŸ™‚ and automated

  142. Jalpesh vyas says:

    Can i transfer money from Kotak Bank or HDFC bank to my SBI PPF A/C

    1. Yes Jalpesh

      You can read this comment where this guy did it from his HDFC account : https://www.jagoinvestor.com/2012/03/term-insurance-plan-cover-above-50-lacs.html#comment-40542

  143. Dr Rajen Gordhandas says:

    Thanks I just did with Rs 2000/- it worked like a wonder, its pity even the staff members of ICICI Bank or SBI Bank have not it before and they cant guide. Regarding Tax benefits I think what you suggested should work out by showing print out of e statment
    Thanks
    Dr Rajen Gordhandas

    1. Good to hear Rajen that its working for you . Yes you can take the estatement and see the debt from your bank . But to confirm that the amount was credited to your PPF , you must have it linked with SBI bank account or have your pass book updated !

  144. Vijay says:

    Hi Manish,

    Thanks for the information. It is really helpful. I was looking for exactly this information. Thanks again.

    Cheers.

    1. Thanks Vijay πŸ™‚

  145. Ram says:

    I have a Query.. I changed my PPF account from post office to SBI recently(Post office they worked well. The SBI Buggers took 2 months and required 3 visits to bank). Now I am able to see the PPF account details in my SBI login itself.

    I have couple of queries.

    1. I applied sometime in Jan and in post office they sent the cheque the very next day to SBI. SBI took nearly 2 months(March 8th) saying some details were not enough from post office, the cheque is not credited yet, etc..Would I loose interest for this period?If so is there a way to get it back

    2. Will the interest gets credited monthly in my PPF account which i can see in the statement? or it is yearly?

    Thanks, Ram

    1. Ram

      1. I dont think you will get the interest for that period , This looks like a clerical error and if this falls into the stipulated timeline which bank has mentioned in their RULES, then you cant do anytihng, but if its out side their SLA defined ,then you can ask them to rectify it

      2. NO , its credit yearly only.

  146. Devendra says:

    Dear Manish,

    Thanks for such wonderful info and because of your website, I didnt entered the trap ULIPS. I have a Ques; Can we open a PPF account in ICICI Bank as well and is worth it ? ( I mean ICICI vs SBI). I have got my savings account in ICICI bank and therefore asking.
    Thanks

    1. Devendra

      ICICI had PPF account earliar , but now they dont have it , so you can open it in SBI now , I recommend you open it in SBI only

      Manish

      1. Suunil says:

        Hi Manish,

        You can open PPF account online through ICICI bank. You will have to login into your ICICI bank account and on left side menus, you will find “PPF Account Online” menu (No.5 from the top).

        I am not sure how is the service of ICICI Bank regarding PPF account as I have gone through http://www.consumercomplaints.in/complaints/icici-ppf-ac-c55003.html link. Its started in 2008 but latest experience is also there.

        1. Suunil says:

          Manish,

          One more thing. External links do not open in another window from your website. Sometimes if I am reading some blog and there is one external link to refer, it opens on same window. After reading that external link, I lose track of original blog and go somewhere. I hope this happens to everybody. Can you correct it?

          1. Sunil

            All you need to do is press a CTRL key and then click on the link , it will open in the new window !

            1. Suunil says:

              πŸ™‚ Thanks Manish. Pressing CTRL key will open link in new tab and SHIFT key will open link in new browser.

        2. Suunil

          THanks for your guidance on this !

          1. Suunil says:

            Your are welcome Manish.

  147. Surendra says:

    hi Manish,

    I am having PPF account in SBI, is it possible to transfer a amount from Bank of Baroda bank online account?

    1. surendra

      Yes .. many people have done it , check the comments section

  148. Hemant says:

    Hello,
    Tried this from Citibank online (From my Suvidha account). Added PPF account as a regular savings account payee of another bank, and transferred a test amount. Amount was transferred successfully. Confirmed the same by getting the passbook updated yesterday. It’s worked fine.

    Thanks for the info.
    Rgds,
    Hemant

    1. Hemant

      Good to know that it worked ! congratulations !

  149. startplanning says:

    Hi Manish,
    could you tell me what is the maximum amount that can be added in self, spouse and two children’s accounts? will it be 4×1 lakh rupees?

    1. No , if spouse is nt working and child is minor , max is 1 lac only ..

  150. Chetan Ayare says:

    Dear Sir,

    I have a PF account. But whenever I check for Account Balance it says Invalid PF No./ Data not updated. I left my old organization 2 months ago & now thinking about PF withdrawal.

    But my balance is not Updated then what to do? Whom should I ask abt this. I have already mail all things to my Company HR but they are not responding to my queries.

    I’m little worried, “Please GUIDE ME on this situation.” You can reply me on my email ID (ayare.chetan@yahoo.in).

    Warm Regards,
    Chetan Ayare

    1. You dont need to depend on your company to withdraw the PF . you can do it on your own , also file an RTI application if you want to know more about it !

      Manish

  151. shirish says:

    Hi,
    I am new to this all. I am 24 and working as a IT engineer in a IT firm. I am thinking to open an PPF account and and have some Qs about the same.
    Query:
    I have an SBI account “A” city but needed to open this PPF account in “B” city. Is it possible to open this account or not? if yes what kind of proofs do I need to show them.
    and If No then is there any solution to this as I am living in B city by renting a flat.
    Also can we download the PPF opening account form online?

    Please guide.
    Shirish

    1. Shirish

      The article says that you can invest in PPF online, it does not say that you can OPEN an account online .. you will have to visit once personally to open the PPF account in SBI , and you can do that in any other city, just that they may require your residence proof . see this : https://www.jagoinvestor.com/2010/02/how-to-open-a-ppf-account-at-sbi-bank.html

  152. saurabh says:

    hi Manish,

    I already have PPF account and I regularly tranfers money to sbi PPF account using my ICICI account.
    In last week I tried to transfer some odd figure of amount like 6717 (which is calculated to conclude 1 lac investment for current financial year). But it gets returned back to account with status as failed.

    Can you please guide me whats might gets wrong with above transaction?
    I haven’t used all 12 transactions for year yet & also not crossed max limit for year.

    Is it required to have amount in multiple of 100 or 500?

    Regards,
    Saurabh

    1. Saurabh

      That might be the case , but I am not sure .. check with PPF department

      1. saurabh nawathe says:

        I had consult with SBI and come up to conclusion that amount should be of multiple of 5.

  153. Padmanabha says:

    Hi,

    I have a sbi ppf account, but it’s alpha numeric?
    To do online money transfer via third party account do we need a numeric ppf account? Is there a way to convert a alphanumeric ppf account to numeric? I don’t know why SBI makes it so difficult.

    1. Padmanabha

      Yes .. i am sure its the reason why its not working .. you cant do much on that i guess

  154. Prakash Gudnavar says:

    Hi Manish,
    This is very good info.
    I have been going to SBI branch once in year to deposit into PPF a/c.
    After reading this article, I did NEFT transfer from my Citibank Suvidha a/c to PPF a/c in SBI. There was no option of adding “PPF a/c” for setting up NEFT from Citibank a/c. I chose type of account as “Savings” and tried it. The transfer is through. I did the transfer 3 days ago and there is no bounce, so I think, the transfer is really complete.

    Thanks once again for this info.
    Regards,
    Prakash

    1. Prakash

      BEtter once go to SBI and check your PPF balance updated and check .. mostly it should be ok πŸ™‚

  155. Shailesh says:

    Hi Manish,

    I have saving acount in state bank of travancore.pls suggest it is possible for me to open ppf account..

  156. Sreekanth Garladinne says:

    Thanks a lot to the author for this useful piece of information. It saves lot of effort. I always do online transactions, but I was not aware of SBI PPF as it was once a year effort and was taking help of my friend to credit it. God blesss!!

    1. Sreekanth

      Good to hear that finally this helps you πŸ™‚

      Manish

  157. Seema says:

    I have done the ppf account linking to my icici acc.. how do i see the balance online thru icici or thru sbi??

    1. Seema

      Better you link the PPF account with SBI , because you can view it online only using SBI , not from ICICI

      Manish

  158. Seema says:

    SBI is not accepting minor account now… how can i convince them to open one??

  159. Vinitha says:

    Thanks for this informative article and also to the discussions through comments. I have a savings accnt with SBI and also the PPF accnt with the same branch of SBI. However, when I went there to ask them to link my PPF accnt with my savings accnt, they refused to do so on the note that the dates of opening of savings accnt and PPF accnt is different!! They asked me to add the PPF accnt as a beneficiary to my savings accnt to enable online transactions to my PPF accnt.

    1. Vineet says:

      Vinitha,

      That’s limitation with SBI Online system. Their user ID is based on customer ID. Customer ID is allotted to you when you open the account. If you already have account with SBI, while opening another account you need to specifically tell that you already have account and new account should be opened with same customer ID. Once you have opened an account, it is hardwired to customer ID and you cannot change it. Other banks (I have experience of ICICI and Citibank) let you link multiple accounts to same user ID any time after you have opened the account (of course with some limitations like name and address on all accounts should be same). I think HDFC also has same limitation as SBI. Since you are stuck and only option for transfer using beneficiary…

  160. sudhank says:

    I have opened PPF account (feb 2011) in hurry through agent for urgent tax saving and agent opened it in union bank of india. PPF account number is also in only 4 digits not around 15 digits even when account is in main branch of ahmedabad city.

    I deposited 20,000 rs through cheque in other branch of union bank of india in ahmedabad itself and got a proof slip. I showed it in my document proof to the company and it worked.

    Funny part was that, after 2 days, that agent called me up because on pass book his name and number was stamped on the back side of pass book and told that amount is wrongly deposited in other branch and i should took my cheque back and deposit it in that particular main branch where my ppf account has been opened.

    My cheque got cleared on same day and now i wanted to check that whether money was in my ppf acc only or in somewhere else so to update my pass book when i visited one another branch of union bank of india i came to know that even pass book can be updated only in the branch where account has been opened.

    After knowing the possibility of online transaction in SBI i brought a form from SBI but they told that first i have to close PPF account in union bank only than SBI will open PPF account here. My friend has opened saving acc, ppf account and home loan account in sbi and he is able to see all accounts online at a time.
    Anyways..few pain is needed sometimes !!

    1. Sudhank

      I can see that you did things in hurry because you did things when it became urgent , if you would have taken these actions after doing some 1-2 hours of reading .. you could have saved hours and hours and days of pain ..

      Manish

  161. Phani says:

    Hi Manish,

    Thanks a lot for this article. I wish i knew this before only. My corpus would have been better in future :(.
    I congratulate you in choosing topics of real interest and actual problems of investors for your blog.

    Best Regards

    1. Phani

      Good to hear that you liked this one and it helped you

      Manish

  162. sarika says:

    Hi!
    I have a question, I have deposited 70000 in dec , my advsior opened the ppf a/c in pnb i do have any account in pnb please help to get it streamlined also pnb still do not offer Online payments . I went to the bank to collect the payment receipt they told me there is no passbook that is updated now only provided a receipt with statament

    1. Sarika

      Better transfer it to SBI in that case .. What help you need from us ?

  163. Ajay says:

    I have one query

    My PPF account with SBI is at different town.
    Suppose I transfer money from HDFC account to PPF account situated in other city.
    Can I update my PPF passbook at any other SBI branch located in other city which is different from the branch where I hold my PPF acount .

    1. Ajay

      thats little tricky .. i am not sure on this .. try to ask it on our forum : https://www.jagoinvestor.com/forum/

      Manish

      1. Phani says:

        Yes, you can get the passbook updated at any SBI branch which handles the treasury (government) transactions.
        Normal SBI branches also can view your account and just tell orally whether the amount is credited or not.
        The assumption is your home branch got Core Banking πŸ™‚

        Regards

  164. madanna says:

    Hi Mr. Manish,

    What is the minimum amount we can start saving in the PPF account

    1. Madanna

      Min Rs 500 per year

  165. Ajay says:

    it’s really amazing & great information for all PPF account holders who don’t want to visit the bank for depositing there money in PPF….i tried the same and its working nicely….thanks..

    1. Ajay

      Good to hear that its working for you ..

      Manish

      1. ashok says:

        Hi Manish,

        Can an NRI open PPF a/c with icicibank or sbi bank, if yes, what are the documents to be fill,

        Please can you hlep me

        Thank you
        Ashok

        1. Ashok

          NRI cant open PPF account

          Manish

  166. Hitesh says:

    Dear manish,

    I am having a hdfc savings account. i want to add a beneficiary online for my ppf account. I have following queries
    1. What should i write against ‘account type” ? . the options are, savings, current, nre, loan , card payment .
    2. Also it requires a ifsc code, so do i put the code corresponding to my sbi branch where i have my ppf account ?

    Thanks
    hitesh

    1. Hitesh

      1. “account type” is only for info purpose and not actually for transaction , so you can choose savings”

      2. Yes you can put IFSC code . however you can also go the way of choosing the actual address

      Manish

      1. Hitesh says:

        Thanks a lot Manish. I will do it let u know the result.

  167. Satish says:

    Can I transfer my PF acc amount to the PPF acc and can Show the total amount as savings to the income tax department (saving toward 1Lac.)

    1. Satish

      You cant transfer money like that .. Also whatever fresh investment you do in PPF will be counted as your 80C deductions

      Manish

  168. Naveej says:

    Good Info. Thanks. I have a question though.

    If you transfer online, how do you get the receipt to be shown for IT proofs, especially if you have to show the proof to your employer to claim the deductions through 80c

    1. Pradeep Borah says:

      If you have a net banking access to SBI a/c. And you PPF a/c is visible or added to your a/c then you can generate a statement of your PPF a/c online. Otherwise you need to update your PPF passbook or visit your branch.

    2. Naveej

      That can be an issue if you ask this question today on 6th Jan when its the time to give the proofs πŸ™‚

      Manish

    3. Girish says:

      Naveej,

      When you do an online tranfer (atleast through SBI) you get the transation id. Open up the transaction and you will have an option to print the page. This is sufficient as proof for the PPF payment.

  169. Girish says:

    Hi Manish,

    I have a PPF account in SBI but different branch from where I have the savings account. Have been doing online transfers for the past 2-3 years. The only difference is I have set up the PPF account as Third party transfers rather than Inter bank transfers. Very recently I got the online account for the PPF and can now view the account balance.

    1. Girish

      Thanks for that update .. so even if you dont have the same branch for PPF and bank account . you can still view the PPF

      Manish

  170. Pradeep Borah says:

    Apart from PPF and other instruments, you can make part payment of your home loan or loan EMIs through NEFT also. Well I am doing NEFT transfer to my OBC Home loan a/c every month. Initailly it was paid through post-dated cheque.

    1. Pradeep

      Thats a good news .. so what you are saying is that even a LOAN Account number can be added as third party and then a prepayment can be done to that ?

      Manish

  171. chittibabu says:

    hi Manish,

    I am having PPF account in SBH, is it possible to transfer aamount from ICICI bank online account?

    Chittibabu

    1. Chittibabu

      You will have to transfer the PPF to SBI , only then its possible

      Manish

  172. Sanjay says:

    Thanks a ton for the above details, it are very usefull.

    1. Sanjay

      Good to know you got some good tip out of it .. do it and let us know

      Manish

  173. Narsing says:

    Thanks for this information. I was able to transfer 5K from my IDBI account to SBI-PPF account thru online facility using the NEFT transfer. This really helps and make my day a bit easier to live.

    Thanks for this site…

    Rgds,Narsing

    1. Narsing

      Thats great to know .. keep reading

      Manish

  174. HIMANSHU says:

    How to get PPF information if I know PPF A/c no.

    1. Himanshu

      DO you really mean PPF account ? or EPF ? Becuase if its PPF account , then you can just go to the bank branch and see the details .. I hope you are talking about your own PPF account and not some one else PPF πŸ™‚

      Manish

  175. nimesh shah says:

    while selecting the branch I am not able to locate the branch in which I have opened the PPF account. Its not listed.

    Any idea what should I do.

    1. Nimesh

      thats means that the branch you have is not having internet banking enabled for it .

      Manish

  176. Karthikraja says:

    Hi
    i am having PPF and SB account in same SBI Branch. But i also have another SBI account in another branch. irrespective of any branch, you can transfer the money as linked way or third party. And you can generate PPFe-Receipt any time from online sbi banking in account staement page. it is fast convenient way of claiming tax benefits.

  177. Akhil says:

    Hi Manish,

    Could you confirm this and elaborate this more.

    Invest in Spouse Name To Increase Investment

    http://pf.sdoye.com/2011/03/ppf-public-provident-fund-maximize-benefits/

    Open PPF account in your spouse name and invest Rs 70,000 per year. The return from spouseÒ€ℒs PPF investment will be clubbed with your income for taxation as per income tax laws for money gifted to spouse. As the return for PPF is tax free, the clubbed return does not impact or increase your taxation. This is a smart way to invest Rs 1.4 lakh per year, Rs 70,000 each into your and your spouseÒ€ℒs PPF accounts

    Thanks & Regards,
    Akhil

    1. Akhil

      I dont know this .. I mean I am not sure about this .. I will check on forum : https://www.jagoinvestor.com/forum/doubt-regarding-clubbing-of-income-in-wife-ppf-account/2483/

  178. AMIT DOSHI says:

    Hi Manish,

    Thanx for the nice post and based on the same I acted on it wrt PPF account of my minor son with SBI. His bank account is with HDFC Bank and as per the steps guided by you, added SBI PPF account as Third Party Beneficiary and transferred Rs 500/. Today I got an updated Passbook and happy to inform you that Rs 500/ got credited to his PPF Account with his facility of online transfer.

    So Now even HDFC bank has also supported this transfer apart from ICICI.

    Once again thanx for the feedback and now there is no need to depend on agent.

    1. Amit

      Good to hear that you are not dependent on agent πŸ™‚ . Keep reading

      Manish

  179. Nilanjan says:

    Thanks A lot Manish.
    All the info helps and helps a lot πŸ™‚

    Just one query, do i have to physically visit the branch where I have opened the PPF a/c
    after 15 years when I want to withdraw the whole amount?

    1. Nilanjan

      Yea you will have to visit the branch for withdrawing the money .

      Manish

      1. Nilanjan says:

        Thanks Manish !!! πŸ™‚

        It would have been great if one could have just transfered the amonut online after 15 years!!! πŸ™

        1. NIlanjan

          I think you should not think for 15 yrs .. its too long to worry about πŸ™‚

          Manish

  180. Rajesh Negi says:

    Could you help me to tell that is there any option to withdraw the money in between of completion the duration. if yes what is the %?

    1. Rajesh

      You can withdraw the money from your PPF account after 4 yrs …

      1. Sanghmitra says:

        Hi Manish,

        I have read it that withdrawal can be done any time after ‘the expiry of five years from the end of the year in which the initial subscription was made’ i.e. from 6th year …
        Has there been any change to same?

        Regards
        Sanghmitra

  181. This was very simple as well as helpful. I will also start using the netbanking for PPF deposit πŸ™‚

  182. Jayaprakash Kanreddy says:

    That’s a good question, but unfortunately I dont think I’m right person to answer this. Regarding opening another PPF account; I think this is not possible. May be manish will advise you on this.

    There is one benefit in continuing the existing account. PPF account maturity is after 15 years, so if you start investing in it now, you have to wait only for 10years to get the benefits.

    At the moment maturity benefits are non-taxable. Even in the proposed DTC it is tax-free. You never know about future finance ministers. Rate of interest depends on government. For any financial year it is fixed.

  183. Jayaprakash Kanreddy says:

    Dear LLN,

    In PPF account, every year one need to deposit minimum of 500, if not done, then that account will be inactive. In order to make it active you need to go to the same branch and activate it by paying penalty of 50rs for each year and that year’s contribution of 500rs. If your account is inactive for 4 yrs then the penalty will be around 500rs (compounding penalty)

    Until you pay this penalty and make it active neither you can transfer money to this account nor you can directly deposit money in this account through any of the SBI branches. Its a simple process of activation if you go to the branch.

    Regarding other questions, if you inform your agent then he might get the commission if you deposit the amount directly in the branch by filling the deposit form and mentioning your agents number on that form. If you transfer online no one will get the commission.

    Regarding keeping the account, it is advisable to contact the branch and find out whether all the details provided while opening the account are correct (agents never bother to fill in all the details), if not update them (Nominee, savings account number and address etc). if they are correct, then I would suggest going ahead and activating the account and use online transfer to keep that account work for you in future.

    Hope this helps.

    – Jayaprakash

    1. LLN says:

      Hi JayaPrakash,

      Thank you so much for your answers.

      What would be the best option among the following:

      Option 1. Pay penalty of Rs.50/- for each year and pay the pending min.deposit of Rs.500/- for all the years. Does this option benefit me in terms of interest? When agent opened the account on my behalf, he himself paid Rs.500/- from his pocket, and I did not get chance to pay him back that amount.

      Option2: Open a fresh account and make a deposit keep this account going-forward. How long does it take to open the account and make it accessible to me online. Do I need to have SBI savings account to have online access to my PPF account?

      Another question: Are the returns, after maturity of 15 years term, taxable or tax-free? The Rate of Interest on PPF investments vary from year to year or every year it is fixed?

      Thank You
      LLN

      1. LLN

        Your case look very simple to me .. You need to follow these steps

        1. Go to branch once and check if the details provided in the PPF account are yours only . I mean the agent has not given his own details and just asking you to pay for him (assuming you will never come to know)

        2. If the details are not yours , then you dont have a PPF account at all .. you start fresh and open a PPF account for yourself

        3. Incase the details are totally correct , then forget your agent now and just make sure you revive the account by paying the penalty and then do the procedures which can help you putting money online .

        Manish

  184. LLN says:

    Hi Manish,

    This article is very informative.

    I have a PPF a/c that was opened in SBI Branch, Blore, by an LIC Agent on my behalf. He deposited Rs.500/- in that account and handed over the passbook to me 5 years ago. Since then, I did not get chance to go to the bank branch to deposit amount further. After seeing your blog, I gained confidence that I can transfer the amount to PPF account online.

    The LIC agent (who also does the work of opening PPF a/c for his LIC customers),
    told me that I have to inform him everytime I deposit any further amount. Why do I have to inform him? does this subsequent deposits to my account earn him any commission?

    Can I continue the same account for further deposits, that the agent opened on my behalf? or do you foresee any issues with this acccount? or do you suggest opening another account on my name and proceed with it?

    Thank You
    LLN

  185. smitha says:

    Hi,

    Once again a very informative article. Could you clarify a doubt regarding PPF. The limit has been upped to Rs1,00,000. But is it valid for this financial year 2011-12. I had already put the earlier limit of Rs70,000. As per the new limits can i put in the rest of the Rs30,000 as well?

    1. Smitha

      Yes .. you can put the rest of the 30k before march and can avail tax deduction for that also under 80C ..

      Manish

      1. smitha says:

        okies thanks so much

  186. Anand says:

    Hi,

    If i invest INR 30,000 between Jan 2nd – Jan 5th 2012, can i earn interest rate of 8.6% on this amount at the end of the financial year, so that total amount with interest will become 32,580 on March 31st 2012?

    1. Anand

      No , you will get the interest only for the time duration you invest in PPF , so you will get the monthly interest , so it would be 30000 * 8.6% * 1/12 (because its monthly) for the month of Jan , then same for the month of Feb and march .

      Manish

      1. Anand says:

        Thanks for your valuable reply Manish,
        So can i go ahead and open the PPF in Jan 2012 or else should i wait till April 2012? Please suggest?

        1. Anand

          The earliar you put your money in PPF , the faster it starts earning interest for you .. but if you want to tax benefit in this year , then put in PPF else in Apr its fine

          Manish

          1. Anand says:

            Thanks Manish,
            So if i open PPF in Jan 2012, it will get matured on 31st March 2027 and i can withdraw the money on 1st April 2027 right?

            1. Anand says:

              One last question:

              If i open PPF in Jan 2012, it will get matured on 31st March 2027 and i can withdraw the money on 1st April 2027 right?

  187. Ajay says:

    I had one basic question with respect to PPF..
    When is the actual calculated for the amount deposited?
    lets say I deposit 500 rupees every month from April to next Year March.
    Is it calculated for every month? If so can I know the dates? If not can I know how the compounding actually works?

    1. Anand says:

      For each month, the lowest from 5th to end of that month is taken as principal.

      On 31st March, such principal for every month is taken and interest is calculated for each month. These 12 interest figures (for 12 months) are added and then that amount is added to PPF balance.

      If you deposit 4500 Rs every month (before 5th), then calculation is as follows:

      i am assuming 8% interest for ease of calculation. Now it is 8.6%, Dec 2011 onwards.

      Month: Principal:Interest

      Apr 4500 30
      May 9000 60
      Jun 13500 90
      Jul 18000 120
      Aug 22500 150
      Sep 27000 180
      Oct 31500 210
      Nov 36000 240
      Dec 40500 270
      Jan 45000 300
      Feb 49500 330
      Mar 54000 360

      On 31st March, addition of all interests i.e. 2340 is added to PPF balance.
      Balance becomes 56340.
      And on this balance we start earning interest from 1st April onwards.

      Hope it is clear now.

      1. Ajay says:

        Thanks a lot Anand. It was very clear πŸ™‚

    2. Ajay

      its calculated on monthly balance, and added back to the pricipal at the end of the year

      Manish

  188. Atul says:

    Hi Manish,

    Thanks a lot.

    I was doing this basic thing manually.

    Will switchover to online immediately.

    Regards

    Atul

    1. Atul

      Sure .. let us know when you complete this

      1. Atul says:

        Hi Manish,

        I tried with Rs 500/- and it worked.

        Regards

        Atul

        1. Atul

          Good to hear that .. congrats

          Manish

  189. venkat says:

    Thanks for the info bro. I have been looking for this option for a long time… i will give it a try.

  190. Sreedhar says:

    Hi all,

    How about POST office PPF account? Any news about making it online?

    1. Sreedhar

      No , at present only SBI has authorisation to accept online payments for PPF account, why dont you transfer it to SBI

      Manish

      1. Sreedhar says:

        Manish, thanks for the idea. I think it would be tedious job to do that. right?

        one more thing, do you have any idea how can we change existing nominee for PPF account?

        1. Sreedhar

          Its not that tedious , you will have to fill up a transfer form at SBI bank , more than tedious you should see that its ONE TIME TASK . One time issue , life bhar ka aaram

          To change the nominee you need to fill up a form , ask your PPF branch on this

          Manish

  191. Vanitha says:

    I want to open a PPF account along with a Savings SBI account. Can you tell when is the best time to open now? either after March 2012 or before?

    1. kavit says:

      You should open as early as possible and save Rs. 100000 per financial year.

    2. Vanitha

      You should open it before March itself .. Only then in the current year you will be able to claim the tax benefit and it would be better for your retunrs

      Manish

  192. Devesh says:

    When i am going to add wife PPF account in third party as max. transfer limit set as 1 lakh.It was added & i approve the beneficiary by entring the password which was sent on my mobile.But the status showing in the third party list is “verification pending”.
    After 7 to 8 hour , i again checked the third party list to transfer the amount.The PPF account is not showing in the Third party list .I think it was not approve by the bank and deleted from the list.

    1. Devesh

      I think you should check with customer care on this now .. I came to know that only a specific series of PPF account are allowed for online transfer and not all .

      Manish

    2. kavit says:

      Try rs. 70000 in one go and Rs. 30000 Second go

    3. Nitin Gupta says:

      i think u are using HDFC bank.
      It takes 2-3 days to add a third party there in HDFC bank

  193. Devesh says:

    Dear Manish
    Can i online transfer money from my SBI account to wife PPF account.Her PPF account is also in SBI.Actually i had tried to add her account for third party transfer but it is not approved by the Bank.

    1. Devesh

      Yes you should be able to add it , what is the error when you add it ? What do you mean by “Not approved by Bank” ?

      Manish

  194. Sandeep says:

    Hi Manish,

    I would like to open PPF account but currently I am not in India.
    Is it possible to open PPF account online?
    or Is there any way to open an account?

    -Sandeep

    1. Sandeep

      I am assuming that you are an NRI as you said that you are outside India, NRI’s can NOT open a fresh account . they can only contribute to an already opened PPF account, so now you will have to wait till you come to India as resident

      Manish

      1. Vanga Rajendra Prasad says:

        Manish
        NRIs can not open new PPF ac. I know it is a printing mistake only in your above words. On 17th only I wrote about PPF in my column. That is why I remember this. I wonder and glad to know so many responses in 2 days for your words.

  195. Shyam says:

    How can I change the PF account from one branch to another branch?
    Last time I spoke to SBI branch manager, he told it cannot be possible.

    1. Shyam

      You need to fill up a form for transfer at your target BRANCH

    2. kavit says:

      It is possible by putting up application at SBI branch. At the end of financial year you will get interest from your latest branch from the date of transfer. Again you have to approach for credit of last branch interest

  196. ravindranath reddy says:

    I have a/c in union bank of India. I am using net banking to transfer money into SBI PPF a/c since 6 months.

    1. Ranvindranath

      Good to know that .. Thanks for confirming that its working with any bank

      Manish

  197. Anand says:

    I have been trasferring money to my SBI PPF aacount from my IDBI bank account succesfuly.

    1. Anand

      Good to hear that .. thanks for confirming

      Manish

    2. Deylon says:

      Hi Anand,

      Can i get your email address, need to clarify something about the IDBI PPF

  198. Giridhar says:

    Manish and jagomember who shared this info with you,
    Thanks a lot for this peice of information. I am NRI, as you say, it will help me a lot.

    1. Giridhar

      Good to know that finally it will help some NRI reader πŸ™‚ .

      Manish

      1. varghese says:

        Dear Manish,

        It is a news to me. I was always in trouble to find out time to go to the SBH branch to pay the PPF.Also I was under the impression that without a challan copy(counter foil) acknowledged by the bank we cannot claim the Income Tax exemption.
        Thanks for your advise.

        Regards,
        Varghese

        1. Varghese

          Good to know that this article was useful for you .

          Manish

  199. Amit says:

    Dear Manish!!!
    Few queries..pl answer
    1. Can a PPF account be opened in name of Minor with Grand Parents as his/her guardian??
    2. If minor has PPF account with father as guardian and father does not need to show the PPF contribution to his child as his savings in IT return..then cant he fill the full quota in his as well as his child PPF account without inviting any trouble????

    1. Asif says:

      Amit,

      Regarding your 2nd point, I guess you can fill the full quota in your and childs PPF a/c but you can only claim tax benefit upto 1 Lac combined of both a/c.
      I see no trouble in this one as you are not claiming the tax benefit for both.
      your views welcome!

    2. Amit

      You can invest in Child PPF , but the overall tax benefit will be upto 1 lac only .. I am not sure if the guardian can be some one else than parents

      Manish

      1. Amit says:

        @ Asif : It seems logical to me….it means following scenario is possible …Ramesh has two children….bunty and shunty…age 1 year & 3 years respectively….Ramesh opens three PPF accounts …one in his own name and opened few years earlier and two others with his children name at present( with same PAN card only)….fill the full quota in all three accounts(at present 1 lakh per account)…do what ever with his own account(two 5 yrs extension etc)…and transfer his child account in their own name once they become Major…bunty after 17 yrs and shunty after 15 yrs….clean interest free money for himself and his children.
        Manish ur comment pl!!!!!

        1. Amit says:

          oops…its tax free…not interest free at 2nd last line!!!

        2. Asif says:

          Agreed! but it seems people here are suggesting that total maximum amount that can be invested is 1Lac combined of all 3 a/c and not 1Lac per a/c.

          I am not sure but read here only. Please go thru all the comments!

        3. Amit

          PPF accounts are not transferable from one person to another person

          Manish

  200. sunil says:

    hi manish, thanks for the info nut also let me add that u dont need to have an account with thesame bank. you csn trf even if you have an account with other bank. like i trc the ppf which is with sbi through mu idbi account. i dont know jow many know this

    1. Sunil

      Yes .. you can tranfer it from any bank account . People do it from ICICI and Citibank

      Manish

  201. nixon says:

    Hi Manish,

    Thanks for the wonderful information. I have one doubt- I have PPF account in Indian bank and the net banking is showing PPF statement. If i want to claim tax benefit, will it be ok to take a print out or should i have the bank managers signature in them? If i need the signature, then it makes no sense for online payment as anyway i have to go to the branch. But having said that, if i want to quickly put money in the PPF account (eg last date) then this will be very useful.

    Regards,
    Nixon

    1. Nixon

      No , i dont think the signature is required .. the bank statement itself should be enough . You dont need to visit the bank

      Manish

  202. sanjeev says:

    Hi Manish,
    i was able to transfer from Axis bank by the way you have suggested. i was curious to know what is the difference in interest calculation between depositing on Jan 2011 and Dec 2011.Thx
    Sanjeev

  203. Raj says:

    Manish,

    I have SBI saving A/c and SBI PPF A/c. I can transfer amount to PPF A/c within 05 seconds, its very easy.

    Requesting you to provide EXCEL sheet of PPF with formulas.
    Thanks a lot

    -Raj

  204. ravindra says:

    if you can not transfer through net banking, you can transfer money through NEFT transfer from your bank account to concerned SBI branch where your PPF account exists with minimal charges. For this you have to visit your branch, where saving bank account is maintained

    1. Ranvindra

      This is also an option, but i am sure most of the people are looking for a solution which can keep their bums at their home !

      manish

  205. Mithun says:

    I have a salary and PPF accounts in IDBI. The IDBI rep. had once told me that online payment is not possible. The reason why many banks are not extending the online mode is that perhaps PPF deposits are used entirely by the GOI and the dsignated banks are just a collecting medium and hence have no benefit therefrom! Correct me if I am wrong!

    1. Mithun

      A lot of times these sales rep do not know all these things .. you can transfer your PPF to SBI and then link it with your IDBI account .. I am not confirming but it should work, try this and let us know

      Manish

  206. umesh says:

    i have PPF acc.in post office, how i can shift it to SBI as i am SBI Saving ac. holder it will be good for me.
    secondly can i invest upto 1 lakh this year according to the recent guidelins?
    please make it clear

    1. Umesh

      Yes you can start investing in PPF upto 1 lac from now onwards .. its applicable from 1st Dec 2011 . Note that you need to fill up a form to transfer your PPF account at the TARGET Bank

      Manish

      1. Asif says:

        Manish,
        Thanks for article!
        Can you please provide the details and forms to transfer PPF a/c from PostOffice to SBI branch where the Savings A/c already exists with that SBI branch?

        1. Asif

          I dont have forms , but trust me its simple .. you just need to visit your SBI bank and enquire there .. its just filling up a form there ..

          Manish

        2. Binod says:

          Hi Asif,
          I have transferred my PPF account from Post office to SBI in Hyderabad and the details can be found at http://binodshankar.blogspot.com/2012/01/transfer-of-ppf-account-from-post.html.
          Hope it will be useful to you.

          1. Binod

            Thanks for updating this info … I was in search for thing like this . I will make a post on this soon .. Thanks again

      2. umesh says:

        thank you manish.

  207. prabe says:

    Mainsh,

    Let me know if my understanding is right.

    I have PPF in Post office opened in 2010.
    I dont have a SBI ac.
    I have ICICI savings ac.

    Now in order to make online deposit possible.

    I have to goto SBI fill the transfer form.Once the transfer is completed.I can add that account to ICICI NEFT to put money in PPF with SBI.

    I dont need to have SBI ac for this.they will hold PPF without a account with them?

    1. Prabeesh

      Yes, your understanding is correect .. you can transfer your PPF account to SBI and then link it with ICICI . Also note that when you go to open a new PPF account in SBI , some branches generally go after you to open a SBI account, but as this is just a transfer, mostly you should not face it .. incase you do , my suggestion would be to just open a Account in SBI for time being, transfer the PPF and then later close the bank account if you dont need to

      Manish

  208. Hemant says:

    Dear Manish,
    Though this may seem to be an ordinary peice of information to a select few who were aware of this facility and may be utsilising it too, it is in fact an eye opener for the majority like me who were looking forward to such facility for quite some time. I belong to SBI-PPF & non-ICICI/non-SBI savings category and hope it works for me.
    Thanks a lot
    Hemant

    1. Hemant

      Yes I know that … A lot of people are not aware of it , but the problem is that they also never search for things like this , people who already know about this like Raja have the hunger to know more and more and they read a lot about these things .. so they know about it πŸ™‚ . Good that you have known this info now , better act fast and not let this excitement drain down πŸ™‚

      Manish

      1. sachin says:

        ya i also don’t know about it as my father used to manage , but now i will have to do it so i searched about it and get this useful info , thanks everyone for sharing this wonderful info…

  209. Durga says:

    Thanks a lot for this very useful article!!

    1. Durga

      Good to hear that . Thanks

  210. Sasi says:

    it is really a exciting feature. i am using it right from my account opening.

    1. Sasi

      Good to hear that . you have a SBI account and PPF opened at same place ?

  211. Kalyani says:

    hi… this is not possible from ICICI to non ICICI branch or even BOB (where I have both my PPF and SB accounts). If anyone has info on how to do PPF linkages in BoB, pl share the process.

    thx

    1. Kalyani

      I dont think it can be done if PPF is in non-SBI bank , why dont you transfer your PPF account to SBI bank, that would be the best thing

      Manish

  212. Chennaivaasi says:

    Manish – May be you can take it up with some consumer rights agencies.

    ICICI has permission to open PPF account. However, they don’t have PPF account opening form online or in all the branches. Only one branch is designated to open,maintain and collect PPF deposits in a big city like chennai. Even if you go requesting for a form, invariably you are turned over with lame excuses like the officer managing the desk is on leave, we are out of forms etc.,

    Ultimately, if you convince them to open an account, you will hear the marketing stuff of why don’t you invest the amount in ULIPs blah blah… Additionally, if the money is deposited by a customer directly, there should be no commission cost fr the government whatsoever. ICICI by default marks it with a agent code to palm off that commission as well.

    Worst of all, you cannot link it with your existing Savings account to transact online with them :-((..

    In short, ICICI just do not want to do this public service.

    1. Chennaivaasi

      yea . they do not want to encourage it like SBI and I am sure its because its not a bank like SBI which is of govt itself .. So they need to have a strong monitery benefit for doing anything ..

      Manish

  213. kviyer says:

    I have been transferring from my salary a/c with sbi to PPF a/c in another sbi branch regularly for last many years.The on line transaction of SBI is fast , error free and very useful. All utility bills are paid on line with click with no issues in the last 3 years…….i would recomend this for speed, precision and ease.

    1. Kviyer

      Good to hear that .. can you let us know if you can also see your PPF account linked in your SBI bank and see the balance in PPF online ? If you have done this,. how did you achieve it ?

      Manish

      1. kviyer says:

        No. i have transferred as third party & third party a/c are not tagged .
        But in case you submit an application to sbi ( Manual) to tag this account , i presume it is feasible. At the least they will give you another access code for seeing the balance treating the same as a separate account.However i have not tried this.

  214. Shobha says:

    hi,

    I have my PPF account with ICICI along with my Saving account at same Branch.

    Let me try adding and transfering money. Will update.

    Regards
    Shobha

    1. Shobha

      Sure .. do it and update us .. Are you saying your have your PPF also in ICICI only ?

      Manish

      1. Shobha says:

        yup….in 2005 they had an update that PPF will be online. I had opened an account with them, without much knowledge. it never became online.

        Now I know I would have better opened with SBI /Post Office, but am stuck (Transfer is too tedious a process πŸ™‚

        1. Shobha

          We choose options , options never choose us ! .. better do the tedious task and relax for life , rather than get stuck with tedious task in installments

          Manish

          1. Kushank says:

            ICICI bank now offers online PPF facility πŸ™‚

            1. Kushank

              Thanks for sharing that, can you give the link !

  215. K.K. Mittal says:

    Hiii I am having my PPF a/c in PNB and Saving a/c. in Axis bank with third party transfer facility shall i do online transfer to the same.

    1. KK Mittal

      Ok , try to add your PPF account as third party as mentioned in the article. check if you succeed ?

      Manish

    2. rajiv chauhan says:

      HI Mr Mittal, Mr Chauhan,
      ANy update on this online transfer of money from Axis bank to PNB ppf?

      Thanks
      Rajiv chauhan

      1. I dont think its possible . For online transfer the PPF has to be in SBI as far as I know !

        Manish

  216. Abhijit says:

    Thanks for the great article, Just wanted to know more in detail about the PPF A/c Transfer process from Other bank to SBI.

    1. Abhijit

      we dont have much info and examples of OTHER Banks – PPF in SBI .. I would suggest you to try to do the 3rd party transfer to your PPF account by adding it .. And if successful , then try to transfer 500 to it

      Manish

      1. Aditya says:

        I am maintaining my PPF account in Bank of Baroda where online PPF account facility is not available. Can I open one more PPF account in SBI to make all my transfers online?

        1. Aditya

          No, you can not open one more PPF account . one person can open only one PPF , the first thing you should try is to add your PPF as third party in your online account and see if its getting added and you can transfer the money , if that goes well , fine .. else the next step can be to transfer your PPF to SBI and then follow what I said in article

          Manish

        2. Jayaprakash Kanreddy says:

          Aditya,

          Bank of Baroda branch where you have PPF account should be in RBI’s NEFT branches list to try online transfer. If this branch is available to add a beneficiary of that branch, then try a 500 transfer if it is successful and amount not returned back to your account in next 5 days, then it is possible with that branch and you can update your passbook to confirm that. By the way, to make online transfer, PPF account is not required to be an online account. Hope this helps.

          1. Jayaprakash

            I think its possible with any PPF and not just SBI PPF .. some one updated that he had PPF with IDBI and he can still add it and transfer money to it πŸ™‚

            Manish

            1. Jayaprakash Kanreddy says:

              Yes, that is exactly what I wanted to say in above comment. All the banks which are providing PPF facility and that particular branch is part of RBI’s NEFT transfer branches list, then I think online transfer should be possible. Another observation is; if PPF account number series is similar to the savings account series in that branch, then we can guess that this transfer is possible. This is just my observation not official statement from any bank.

              In the branch where I have my PPF account, is having same series for PPF account and savings account numbers. Also I have seen couple of PPF accounts in other nationalized banks where PPF account number series is different from savings account number series (number of digits different) and online transfer to that account was not possible even though that branch is in NEFT list.

            2. Jayaprakash

              Thanks for that information.

              Manish

  217. Vivekanand says:

    This is informative. I have been following this approach for 3 years now. It works fine, and you can verify the same when you update your ppf passbook at a nearby branch.
    The big plus of the approach is that you can transfer funds at your convenience right at the beginning of the year – this allows you to earn interest for the whole year!

    1. Vivekanand

      Thanks for confirmation that its working ..

      Just one point for you . PPF interest is calculated on monthly basis on the YEARLY Amount . so yes putting money in start of the year helps , but if you delay is by 1-2 months .. the impact wont be high enough

      Manish

      1. Vivekanand says:

        I didn’t know that the interest is calculated on a monthly basis.
        I thought that with the RBI’s recent impetus on making every day count for interest calculations, PPF too would be in the same league.

        That’s news to me. Thanks for the info.

        1. Vivekanand

          The daily interest calculation is only for BANK Saving account . The PPF interest calculation is done on Monthly basis

          Manish

          1. Tushar says:

            Hi Manish

            I have confusion here.
            Is there any difference in putting money in PPF account monthly Vs Yearly. Means suppose one put 1000 Rs per month in PPF account and one put 12000 collectively on 1st April only. Will both people will get different interest at the end of the year. Is that largely matters?

            1. yes, they will get different interest , here is how its calculated : https://www.jagoinvestor.com/2012/02/how-ppf-interest-is-calculated-video.html

      2. Vivek says:

        Hi Manish,
        The article and the discussion/comments provide very helpful information … Thanks a lot for this.
        Regarding your comment above, I have 2 doubts –
        1. Can you please elaborate on … “PPF interest is calculated on monthly basis on the YEARLY Amount” ? What is the “YEARLY” amount here? Is it the amount available in the account at end of previous Financial Year?

        2. By interest “calculated on monthly basis” do you mean that it is compounded monthly ? I understand it is actually compounded annually – in which case does it matter much if the interest is just “calculated” monthly? (except to serve purpose of informing you monthly interest amount?)

        1. Vivek

          1. Yea , its the balance at the end of the previos year

          2. NO , it is not compounded yearly. You will get simple intest for 12 months and then the yearly interest will be added to PPF.

          Manish

          1. dr kishan says:

            Dear Manish
            Slight correction here. the interest is calculated on monthly basis on the least balance between 5th and end of the month. but it is not credited to the account on monthly basis but is credited on yearly basis.

            see point 8

            1. Kishan

              Actually I meant yearly and not monthly . i correct the mistake

              Manish

  218. My SBI-savings-account and PPF-account are in separate SBI branches. I successfully use online transfer to PPF-account.
    However, I still have a problem. I cannot monitor my PPF account online. That is, I can transfer the money to my PPF account but cannot check online whether the money has indeed been transferred. Or for that matter, I cannot check how much interest I have received and what is my final balance in my PPF account.
    To be able to view my PPF account online, I am supposed to visit my PPF-SBI branch and get it sorted (Its a pain, I tried once and failed). As a backup, I visit an SBI near my house and pay them a fee (I guess it is 10Rs) to update my PPF passbook.

    1. Raja says:

      Hi Sambaran,
      I think you should ask your PPF holding SBI brach for an online access. If they are reluctant, then just open one savings a/c with them(1k mim deposit wala) and ask for online access again. Once you have it, just ask to add you PPF a/c to that online access. I did it that way πŸ™‚

      1. Chennaivaasi says:

        In SBI, you cannot get online access of accounts unless you have a savings account atleast to the extent I was aware of (especially for individual account holders).

        Once you open a Savings account, you should be able to see the PPF account as well (as long as it is under the same customer id).

        I have also been using this online transfer for the past several years (atleast since 2005).

        1. Nitin Sontakke says:

          Hello Chennaivaasi,

          Not necessarily so. I don’t have savings account with SBI and still access PPF account online.

          Only caveat is that your access will be read-only.

          Hope it helps.

          1. Giridhar says:

            Hi Nitin,
            What you are saying is that you just have a PPF account with SBI and you are able to access (view) it online. Many other posters have said it is not possible, so wanted to reconfirm it.
            If it so , Manish it would be worth updating article with this info
            thanks

            1. Giridhar

              The viewing is only possible if you have linked your SBI PPF with SBI BANK ACCOUNT , if you have bank other than SBI , then you will only be able to transfer the money , not VIEW it

              Manish

            2. Ganpat says:

              Manish,

              I read your article and did apply for transfer of my post office PPF account to SBI and got the account created last week. I also got the SBI internet banking user id/password to access the PPF balance online and it has read access and I don’t have SBI savings account. The problem I am facing currently is that I transferred money from my ICICI a/c today, but the money got returned back. I am not sure why.

            3. Ok , so you are saying that you followed the full procedure , but still the money is coming back ? Are you sure you have entered the right IFSC code for the branch where you have the PPF account ? Ideally this should not return !

            4. Ganpat says:

              Hi Manish,

              Yesterday I deleted the beneficiary from my ICICI a/c and added SBI a/c again. I transferred Rs.500/- today from my ICICI to SBI and it got credited into my SBI PPF a/c. So it works finally. The thing I did different the first time was, I transferred Rs.1317/- from my ICICI to my SBI PPF and the money got returned back. Today it works with Rs.500/-. Is it that we need to transfer in multiples of Rs.500? or is it working because I added the beneficiary again, though I am 100% sure I gave the correct IFSC code and A/C number details correctly the first time. Anyway thanks a lot, because only after reading your article, I went to the post office and applied for transferring to SBI and then followed the procedure to create PPF in SBI.

            5. I am not sure what made it work πŸ™‚

            6. Ganpat says:

              Hi Manish,

              Yesterday I transferred Rs.817/- from my ICICI a/c to SBI PPF account and the money got returned back. It worked for Rs.500 the previous time. I guess the amount should be in multiples of Rs.500/-. Can you verify that?

            7. Ganpat says:

              Hi Manish,

              Finally it’s confirmed. It works only for multiples of Rs.500/-.

              Today morning, I initiated two transfers (Rs.1000 and Rs.817) from my ICICI A/C to my SBI PPF A/c. The amount Rs.1000/- got credited to my SBI PPF successfully, but the amount Rs.817 got returned back.

              This proves my statement.

            8. Thansk for confirming that , I didnt knew that !

            9. sonal says:

              Hi Manish,
              I have a PPF account in bank of India. I tried to do a third party transfer from Hdfc to PPF account but i got the refund amount. I’m not sure what went wrong the message I got was account does not exists. Is it because the BOI PPF account number is of 4 digits. However even on my PPF passbook its that 4 digit number only.
              Please help at the earliest if possible. Thanks

            10. May be yes, PPF number should be like an account number ,you should be able to add it like you add a new bank account

            11. Varun says:

              Hi Manish,

              As a test, I successfully transferred Rs. 100, from my HDFC savings account to my SBI PPF account, online through NEFT. I just had to add my SBI PPF account details just like any other savings account, under the beneficiaries list for Third party Transfer, in my HDFC netbanking page. It worked ! I also think that it will work for any bank that supports online transfer through NEFT. You just need to enter all correct details like Account number, IFSC code,etc when you add the account.

              And of course, the people at SBI were not aware that this is possible. They told me to inform them in case it works ! πŸ™‚

              Thanks.

            12. Varun

              Thanks for sharing that . Proud moment !

            13. Mayank Pandey says:

              HDFC to SBI transfer to PPF Account is always possible, am doing from last one year!

            14. Thanks for sharing that

            15. Sachin says:

              Hi Ganpat,

              Can you try with a multiple of 10, say Rs. 1310. PPF investments can be made in multiples of Rs. 10, so I guess if you try the online transfer with an amount that is a multiple of 10 it should work.

              Thanks,
              Sachin

            16. No , online it has to be multiple of 500 only

            17. Satheesh says:

              Hello manish,

              I have the SBI savings & PPF account in two different branches.

              How do i can view the PPF balance online?

            18. You can ask your SBI branch to link your PPF with your online account , many people have done that !

            19. Satheesh says:

              Hello Manish,

              I added my PPF account as a third party beneficiary account through online . In 4 hours , it got activated & it shows my PPF balance now.

              But I didn’t requested branch manager to link it.

              It got activated automatically by simply adding as a third party beneficiary account.

        2. PRAWEEN says:

          My PPF account and saving bank accounts are in different SBIs but in the same city. I have added PPF account as beneficiary in my saving bank account and able to do the transactions. But I am not able to watch the PPF statement account thro’ net banking of my saving bank account. How can see my PPF account on line?

          1. Have you linked your SBI bank account with your PPF account or not ? If you link it then you will be able to see it !

    2. Sambaran

      I know people who have done this already.. Ask your Bank manager or some other person on how you can link it . I am sure it can happen.

      Manish

  219. Raja says:

    Hmm… I thought it’s very normal. I have been doing it since 2-3 years from my ICICI/Citi A/c to SBM PPF a/c.

    1. Raja

      No , its not normal .. a lot of people are not aware of this info and are looking for this . Does your Citi account support adding the PPF account as Beneficiary ?

      Manish

      1. Vineet says:

        Manish,

        Any bank which supports NEFT transfer through netbanking would support this. I have created standing instruction from my Citibank account to my Son’s PPF account in SBI. It works like charm.

        Unfortunately my son’s account cannot be seen online because it is minor account. I tried many attempts to find solution with SBI staff and internet helpdesk but they do not allow internet access for minor’s account. Incoming transfer through internet has no problems though. I understand allowing outgoing transfer may have issue, but why restrict getting account information and statements through internet for guardian/parent?

        Vineet

        1. Vineet

          Thanks for updating that information . It will really help those with non-ICICI or non-SBI account . I knew this works with SBI and ICICI , but you also confirmed that its working with CITI Bank … good to hear that πŸ™‚

          I agree that one should allow online viewing of PPF atleast in those account from where the money is gettting transferred . but you know “RULES” ..

          Manish

          1. dileep says:

            Dear Concern,

            I want to create new PPF account pls explore

            1. Dileep

              One person can open only one PPF account ,not more than one .. if you want to open a new PPF account , go to SBI or POST OFFICE

              Manish

            2. Prasik says:

              Can I open PPF a/c in SBI online?

            3. No .. to open a PPF account, you need to go physically once !

            4. Ashutosh Tripathi says:

              Yes, for opening a PPF Account you need to go branch at once, you can apply through online, fill the details and take the print and then go to branch with required documents(photo id proof + address proof ) + one KYC document issued by bank, fill it all and submit it.

            5. Thanks for that info !

            6. Sumitra Nand says:

              Better to open PPF through SBI bank.. so that you can avail the online and other upcoming benefits.

              And good news
              For PPF Investors. Now the limit of PPF deposit has been
              increased to Rs. 1 Lac from Rs. 70000/-.

            7. That rule came long back

            8. Ashutosh Tripathi says:

              It is 150000 now.

        2. Nitin Sontakke says:

          Hello Vineet,

          I have both mine and my son’s account in SBI and can access both accounts online.

          Notice that Internet Banking Helpdesk gave me two envelops with distinct user Ids and passwords for this.

          Hope it helps.

          1. Umesh says:

            Hi Nitin,
            Like Vineet I am also able to pay to my son’s ppf account which is linked my savings account but can’t view it online.
            Now if I try to open savings account on my son’s name can we have online access to saving account and PPF account both? or only saving access or non of above is possible?

      2. Sanghmitra says:

        Yes, even my husband and myself always thought of transfering amount to SBI PPF a/c from our own respective ICICI Bank savings a/c….However we are not sure if that’s feasible considering we don’t have SBI savings a/c…

        Please confirm if it’s possible

        1. Sanghmitra

          Yea its possible from ICICI bank , the screenshots used in article are given by a person who has an ICICI account and does it . Let us know when you do it and its working for you

          Manish

          1. Sanghmitra says:

            Do we have to pay Rs. 500 as minimum PPF amount or can test/ check by 100 rs. also?

            1. Sanghmitra

              No , 500 is the minimum to be paid in a year .. but I think you can make a minimum payment of Rs 50 in one go . Dont worry – try with 500 , it will either go in PPF or come back ..

              Manish

          2. Sanghmitra says:

            It’s working with ICICI Bank a/c

            1. Sanghmitra

              Thanks for confirming πŸ™‚

      3. Shadab says:

        its working with citi bank also, u have to add as saving a/c and u can do the transfer from citi bank to sbi PPF a/c.

        ~shadab

        1. Shadab

          Yea .. we figured it out earliar itself .. thanks for updating us πŸ™‚

          Manish

      4. Mukesh Singh says:

        Yes, It’s very useful. I was not aware about this. This makes a very time saving form me.

    2. Ashansu says:

      Hey Mr. Raja, how do you transfer money from your Citi A/c to the SBI PPF a/c?
      When you are adding your SBI PPF a/c as payee in Citi do you select account type as “Savings”?

      1. Raja says:

        Hi Ashansu,

        That’s right. I added it as savings.

        Regards
        Raja

        1. Ashansu says:

          Thnx Mr. Raja

          1. Raja says:

            Still as a safety measure. First time transfer only a token amount πŸ™‚
            I did that.

            Regards
            Raja

    3. Pravin Kumar says:

      If we have to pay any transaction charge for the PPF fund transfer from one SBI branch to other SBI branch

      1. I am not sure of this, but I have heard there are some charges !

        1. Pravin Kumar says:

          Thanks Mr. Manish

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