Q&A

How can I deposit money in my PPF account in bank of Baroda?

How can I deposit money in my PPF account in bank of Baroda?

To open a ppf account you need to fill-up the form along with certain documents such as passport size photo, photocopies of Aadhar and PAN. However, deposit into BOB PPF account can be made online through m connect plus or Baroda net banking (this must be done on working days between 10 am to 4 pm only).

How can I deposit money in my PPF account online bank of Baroda?

It can be done online via Net-banking. For making online payments, you need to have a PPF account number and the IFSC of the bank branch with which the PPF account is held. NEFT transfer can be done from both savings and current accounts. You can make intra-bank or interbank transfers.

How can I transfer money from UPI to PPF account?

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Now perform following step-by-step process of How to Transfer Money to PPF account Using BHIM App:

  1. Click on “Send” Option.
  2. Click on “A/C+IFSC”
  3. Choose the name of the bank where you hold your PPF Account.
  4. Fill up the following details at the space provided on the next screen:
  5. Bank IFSC Code.
  6. Beneficiary Name.
  7. Account Number.

How can I link my saving account to PPF account?

You need to link your PPF account to your savings account in the bank to be able to check account details. You also have to make sure that your savings account is accessible online. Hence, you need to get your net banking username and password from the bank. In certain cases, you also need to acquire a PIN.

Can someone else transfer money to my PPF account?

No Tax on Interest Earned The interest that you earn from a PPF account is exempted from the tax u/s 80C of the Income Tax Act, 1961.

How can I transfer money from my SBI account to PPF account?

To enable customers to transfer their existing PPF accounts to SBI, the following process must be followed. The customer approaches the bank or the Post office where his current PPF account is held and makes an application for transfer of PPF account to SBI’s branch.

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How can I transfer money to PPF account?

1) Transfer money through Internet banking account

  1. Login to your internet banking with your login and password.
  2. Go to Payment section.
  3. Click on Add third party payee.
  4. Give your PPF Account number, IFSC Code of your bank account and submit.

Do we get passbook for PPF account?

When you open a PPF account with a bank, it provides you with a passbook. The passbook contains details of your PPF account such as PPF account number, bank branch details, PPF account balance, transactions in your PPF account, etc.

Can I transfer money to my SBI PPF account from other bank?

As per the PPF Account Scheme, a subscriber can transfer his PPF Account from any Post Office/ Authorised Bank to another Post Office/Authorised Bank and in case of transfer the PPF Account would be considered as a continuing account and not a fresh account and your balance would also be transferred.

How can I transfer money to my PPF account?

You might want to transfer money to your PPF account with the same bank where you have opened. In this case, simply login your internet banking and select transfer funds within your accounts and select PPF account, enter amount and submit. You can make/transfer maximum of 12 transactions in a financial year.

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How to avoid wealth tax on PPF withdrawals?

Withdrawals from PPF accounts are exempt from wealth tax. You can deposit money into your PPF account via cash, cheque, PO, DD, online funds transfer, etc. For 15 years, a deposit has to be made every year to the PPF account. To keep your account active. Failure to make the minimum annual investment will render the account inactive.

How can I open a PPF account in post office?

While Post office is not yet become online, PPF account can be opened with ICICI Bank, HDFC Bank and SBI. There are basically 3 ways where you can transfer money from your Savings bank account to PPF account online.

Can a foreigner open a PPF account in India?

A foreigner can’t open a PPF account neither can an NRI. However, in case a person becomes an NRI during the period of PPF account holding, the individual can continue on for that particular term. PPF requires you to deposit a minimum amount of ₹500/- in one transaction and can go up to ₹1 lakh per year and that can also be done in one transaction.