Here’s How You Much You Can Deposit Per Day In PPF & Other Small Savings Schemes

The withdrawal threshold at Post Office GDS (Gramin Dak Seva) branches was recently increased, according to India Post. The withdrawal threshold per person has been increased from Rs 5,000 to Rs 10,000. The withdrawal limit at Post Office GDS Branches is also raised, according to India Post. The limit has now been increased from Rs 5,000 to Rs 20,000. A cash deposit transaction in an account that exceeds Rs 50,000 in a single day will not be approved by a branch postmaster (BPM).

Besides that, until the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Monthly Income Scheme (MIS), Kisan Vikas Patra (KVP), and National Savings Certificate (NSC) schemes are made available in the RICT CBS App, deposits in these accounts will be accepted only through a withdrawal form or a cheque mode.

If submitted at any Core Banking enabled (CBS) Post Office, all PosB cheques authorised by any CBS Post Office will be considered as at par cheques and will not be processed. At other SOLs (all Department Post Offices are called Service Outlets (SOL) in Core Banking), no cash transactions exceeding Rs 50,000 in an account are permitted per day. In terms of cash deposits, post offices allow up to Rs 50,000 per day. The PPF system currently does not accept cash deposits of more than Rs 1,50,000 in a single PPF account whereas a minimum yearly contribution of Rs 500 is required to keep a PPF account operational, in case the minimum balance is not maintained in the PPF account then the account becomes inactive.

Not only Public Provident Fund (PPF) account, all other post office small savings schemes such as Senior citizen savings scheme (SCSS), Monthly Income Scheme (MIS), Kisan Vikas Patra (KVP), National Savings Certificate (NSC), Sukanya Samriddhi Account (SSA), etc also require a maximum deposit of Rs 50,000 per day. To keep a post office savings account active, a minimum amount of Rs 500 is required. In case this threshold is not met by a depositor, an account maintenance charge of Rs 100 including GST will be deducted from the account.