Post office account holders can easily make basic banking transactions through India Post Payment Bank (IPPB). With IPPB, one can easily check their balance, transfer money and make other financial transactions through IPPB. Investors had to visit the post office earlier for this. But now post office account holders can deposit money online through the India Post Payment Bank (IPPB) app.
How to deposit money in PPF account?
Post office PPF account holders can deposit money into their PPF account through IPPB’s user-friendly platform at a time when everyone has to keep a social distance amid the corona virus crisis. That too online. Here’s how to put one together for use with IPPB.
Procedures
- Add money from your bank account to your IPPB account.
- Go to DOP Services.
- You can choose to invest from options like Recurring Deposit, Public Provident Fund and Sukanya Samridhi Account.
- Click on Provident Fund to deposit money into your PPF account
- Enter your PPF account number and DOP customer ID.
- Enter the amount to be deposited and click on the ‘Pay’ option.
- IPPB will notify you if the payment made through the IPPB mobile application is successful.
Other investments
You can choose from various post office investment options offered by India Post and make regular payments through your IPPB Basic Savings Account. Funds can be transferred to IPPB from other bank accounts using the application. Similarly, you can deposit money in your RD or Sukanya Samridhi account through the IPPB mobile application.
DakPay Digital Payment Application
Last month, the government launched the DacPay digital payment app. It can also be used by Post Office and IPPB customers. DacPay provides digital financial and assisted banking services provided by India Post and IPPB. It also facilitates services such as sending money, scanning QR codes, and making payments digitally for services and merchants. Customers can transact with any bank in the country.
