Holders of Post Office accounts can easily conduct simple banking transactions via India Post Payment Bank (IPPB). With IPPB Mobile App, their balance can be conveniently reviewed, they can transfer funds online, and other financial transactions carried out via IPPB for which they had to reach the post office physically earlier. Some of the post office saving deposit schemes are the recurring deposit (RD), the Public Provident Fund (PPF), and the Sukanya Samriddhi Account (SSA). The IPPB helps consumers to seamlessly carry out transactions. Through the India Post Payment Bank (IPPB) application, post office account holders can deposit money digitally. In this period of coronavirus, post office PPF account holders can deposit money into their PPF account via the user-friendly interface of IPPB, which allows performing transfers seamlessly, when everyone performs social distancing and prevents stepping outside.
DakPay digital payments app
The government unveiled the digital payments app DakPay last month. The post office and IPPB customers can also make use of this. The digital financial and supported banking services offered by India Post and IPPB are provided by DakPay. It also provides facilities such as transferring funds, scanning QR codes, and digitally making payments for services and merchants and interoperable financial facilities for every bank in the country for customers.
Steps to transfer funds in your PPF account using IPPB App
- From your bank account add money to your IPPB account first
- Now head to ‘DOP services’ and there you will get some options such as Recurring Deposit, Public Provident Fund, Sukanya Samriddhi Account, Loan against Recurring Deposit.
- Now click on ‘Public Provident Fund’ to transfer money to your PPF account.
- Now enter your PPF Account Number and DOP Customer ID.
- Now enter the amount that you need to deposit and click on ‘Pay’
- IPPB will inform you of the successful transfer of payments made via the app
- You can choose from different investment options offered by India Post for the post office and render regular payments via the standard savings account of IPPB.
- Using the IPPB app you can also transfer funds to other bank accounts online
- Similarly, following the same process, you can deposit money into your RD or Sukanya Samriddhi account using the IPPB mobile app.