How to Transfer Money from Bank Account to PPF Account

For more information, Check out related articles: PPF Account Online, SBI PPF Account, ICICI PPF Account & Axis Bank PPF Account

1. Issue standing instructions on transferring money to your PPF account

If you wish to deposit your performance bonus or variable pay (yearly) into your PPF account, you should issue standing instructions via net banking route for every transaction. According to experts, investors would be better off choosing this option when they wish to transfer a lump sum amount.

2. Transfer your funds via internet banking

You can transfer money into your PPF account. You have to go to the payment section after logging to your internet banking portal. You should then click on ‘third payee’ and submit details such as your bank IFSC code, PPF account number. Upon submission of the said details, you will receive a code, following which you will have to confirm your payee and transfer the desired amount from your bank account to your PPF account. After the amount is transferred, the process is complete. In case you have your PPF account with a different branch, you may have to call customer care to resolve the issue and most probably, proceed to link the two accounts before making the transfer.

3. ECS mandate to transfer money hassle-free

You can visit the bank and give it an ECS mandate to facilitate transfer of a certain fixed sum of money from your bank account to your PPF account. By availing of this options, you do not have to worry about taking time out to ensure transfer of money into your PPF account since the bank will do that for you. Your bank will deduct a certain sum of money chosen by you on a specific date and transfer the same to your PPF account. All you have to do is ensure that you have sufficient money parked in your bank account for the transfer.