The India Post Payments Bank Savings (IPPB) account holders of various post office schemes can carry out basic functions such as money transfer to Sukanya Samriddhi Account (SSA), Recurring Deposits (RD), Public Provident Fund (PPF) from the comfort of their homes.
Premiums for these schemes and other functions can be carried out through IPPB mobile app. With IPPB one can easily check their balance, transfer money, and carry out other financial transactions through IPPB for which they had to visit the post office earlier. For opening these schemes, one has to physically visit the post office after which these schemes can be managed online using the IPPB account or mobile app.
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The government launched the ‘DakPay’ digital payments app last year which be used by the post office and IPPB customers. DakPay provides digital financial and assisted banking services provided by India Post and IPPB. It also facilitates services such as sending money, scanning QR code and making payment for services and merchants digitally. It will also provide interoperable banking services. Investors may use this app to make payments as well.
How to transfer funds to PPF through IPPB
• Add money from your bank account to your IPPB account.
• Go to DOP services.
• From there you can choose products- Recurring Deposit, Public Provident Fund, Sukanya Samridhi Account, Loan against Recurring Deposit.
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• If you want to deposit money in your PPF account, then click on Provident Fund
• Enter your PPF Account Number and DOP Customer ID.
• Mention the amount that needs to be deposited and click on the ‘Pay’ option.
• IPPB will then notify you for successful payment transfer made through IPPB mobile application.
• You can opt for various post office investment options provided by India Post and make regular payments through IPPB basic savings account.
• Funds can be transferred from other bank accounts to IPPB using the app.
How to transfer funds to Sukanya Samriddhi Account via IPPB:
• Add money from your bank account to IPPB account.
• Go to DOP Products. Choose Sukankya Samridhi Account.
• Write your SSY account number and then DOP customer ID.
• Choose the instalment duration and amount.
• IPPB will then notify you for a successful payment transfer made through IPPB mobile application.
