Steps You Should Follow To Deposit Money In Your Post Office PPF Account Online

Post Office Public Provident Fund (PPF) scheme is a popular savings scheme. The scheme offers an interest rate of 7.1 % per annum (compounded yearly). The minimum and maximum investment permissible in the scheme is Rs 500/- and Rs 1,50,000/- in a financial year. PPF is the only small saving scheme that falls under the exempt-exempt-exempt (EEE) category.

Here is a step-by-step guide for depositing money in your post office PPF account online

Post Office PPF account holders can deposit money online via the India Post Payment Bank (IPPB) app. Follow the steps to deposit money in your post office PPF account

Step 1: Install and set-up the IPPB app
Step 2: Add money from your bank account to your IPPB account
Step 3: Move to the Department of Post (DOP) services section
Step 4: Select the type of account you want to access. In this case, the Public Provident Fund account
Step 5: Submit your PPF account number and DOP customer ID
Step 6: Enter the amount you want to deposit and select the 'Pay' option
Step 7: Verify all the details and proceed
You will be notified after a successful payment transfer through the IPPB app.

PPF Withdrawal:- ​

(i) A subscriber can take 1 withdrawal during a financial after five years excluding the year of account opening. (if the account open during 2010-11 the withdrawal can be taken during or after 2016-17)
(ii) The amount of withdrawal can be taken up to 50% of the balance at the credit at the end of the 4th preceding year or at the end of the preceding year, whichever is lower. (i.e. withdrawal can be taken in 2016-17, up to 50% of balance as on 31.03.2013 or 31.03.2016 whichever is lower).

PPF Account Maturity:-

(i) The maturity period of the PPF account is 15 years.
(ii) On maturity depositor has the following options:-
(a) Can take maturity payment by submitting account closure form along with passbook at the concerned Post Office
(b) Can retain maturity value in his/her account further without deposit, the PPF interest rate will be applicable and payment can be taken any time or can take 1 withdrawal in each FY.
(c) Can extend his/her account for a further block of 5 years and so on (within one year of maturity) by submitting a prescribed extension form at the concerned Post Office.