The savings account holders of India Post Payments Bank (IPPB) who have invested in various post office schemes are able to easily carry out functions such as transferring money to Sukanya Samriddhi Account (SSA), Recurring Deposits (RD) schemes, Public Provident Fund (PPF) from their homes. The IPPB mobile app can be used for these schemes and other functions. One can easily view their balance and carry out financial transactions via the IPPB app. To have access to these schemes, one has to physically visit the post office, and after this, these schemes can be managed online using the IPPB account or mobile app.
Last year, the DakPay digital payments app was launched by the government to provide digital financial and assisted banking services to customers of IPPB and post offices. Investors can use this app as well for making payments.
Steps to transfer funds to SSA via IPPB:
Step 1: Add money to your IPPB account from your bank account.
Step 2: Go to DOP Products and select Sukanya Samriddhi Account.
Step 3: Type your SSY account number and then key in your DOP customer ID.
Step 4: Select the installment duration and amount.
Step 5: You will be then notified about a successful payment transfer made through IPPB mobile application.
Steps to transfer money to PPF via IPPB:
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Step 1: Transfer money to your IPPB account from your bank account.
Step 2: Go to the DOP services.
Step 3: From there, you can select products like Public Provident Fund, Recurring Deposit, Loan Against Recurring Deposit, and Sukanya Samriddhi Account.
Step 4: If you want to transfer money in your PPF account, then click on the Provident Fund.
Step 5: Key in your PPF account number and DOP Customer ID.
Step 6: Write the amount that needs to be deposited and click on the “Pay” option.
Step 7: IPPB will then notify you about the successful payment transfer made via the IPPB mobile application.
Step 8: You can choose from various post office investment options offered by India Post and make regular payments from your IPPB basic savings account.
Step 9: Funds can be sent from other bank accounts to IPPB through the app.
