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Wednesday, May 16, 2012

SBI PPF Online Transfer - (PPF Linked with SBI online)


Query of Blog Reader
How to add my SBI PPF account in my SBI net banking (saving) account to view online statement of PPF account!

How to link your PPF Account to SBI Bank Account

In order to link your PPF account to your saving Bank account,  you need to visit your SBI Branch and request your Branch Manager to Link your accounts. 

In case if your PPF Account is in one SBI Bank Branch and Saving/Current Account in another SBI Bank Branch then also you can request your SBI Bank Branch and SBI PPF Branch to connect(link) both account in one single user ID.

When your PPF account is linked with your SBI Saving Bank account that too with single user id,(user id which you use for your net banking transaction) then  you can directly make online payments from your bank to your linked PPF account.

 The Funds Transfer facility enables you to transfer funds within your accounts in the same branch or other branches. To make a funds transfer, you should be an active Internet Banking user with transaction rights.
Amount of Transfer Allowed in Fund Transfer
  • Daily limit for Funds Transfer to own Accounts:
  • Between Accounts in the same branch: Rs.10 Lacs.
  • Between Accounts across branches: Rs.5 Lacs.
  • Daily limit for Funds Transfer to PPF Accounts in the same branch or across branches: Rs.1,00,000. 

This is subject to a ceiling of Rs.1,00,000, by a maximum 12 deposits, during the Financial Year, for the Principal Amount. 

How to go ahead with Fund Transfer

  •  Just log on to retail section of the Internet Banking site with your credentials
  •  Select the Funds Transfer link under Payments/Transfers tab. 
  • You can see all your online debit and credit accounts. 
  • Select the debit account from which you wish to transfer funds and the credit account into which the amount is to be credited. 
  • Enter the amount and remarks. 
  • The remarks will be displayed in your accounts statement for this transaction. 
  • You will be displayed the last five funds transfer operations on your accounts. 
  • On confirming the transaction, you will be displayed a confirmation page with the details of the transaction and the option to submit or cancel the funds transfer request. 
  • A reference number will be generated for your record.


Step by Step Fund Transfer Process


    Select the option Funds Transfer
     
     Select the account from which you want to make transfer if more  
     than one account is linked to your net banking account

   
     Click Submit. An intermediate page displays details of the selected 
     account details, amount to be transferred and the credit account.
 
    Verify and Confirm the Transaction Details

    Confirmation of Fund Transfer

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16 comments:

  1. Swaroop Kashyap DJuly 2, 2013 at 3:50 PM

    I have my SB account in Attavar branch, Mangalore and PPF account in PBB branch, Mangalore. I have linked the two accounts for transfering money online to my PPF account. But, to know the balance, I have to visit the PBB branch to get my pass book updated. Owing to this contraint, I submitted a request to the Manager of Attavar Branch to link my PPF a/c held in another branch to my SB a/c held at his branch under 1 single ID. But, he states that the two have been linked but I am not able to view it. It sounds ridiculous. I have emailed their customer care and escalated the matter to the higher ups. But, it still seems unresolved. I had read in your blog about linking two accounts held at different branch under one single user ID. But, in my case, it does not seem to happen correctly. Do I have any other choice other than transfering the PPF account or opening an SB account at PBBranch? -

    ReplyDelete
    Replies
    1. Hi Swaroop

      If they already linked your both accounts with one user id (login id which you use for net banking account), then it gets automatically updated and reflected after login.

      You can take print out of screenshot of your login and visit branch again, as why not reflecting even both accounts are linked.

      Important point: I hope you have given request to both the branches (where you have savings bank account and also to your PPF branch) to link your accounts.

      Other option

      1. If you have Saving Bank account as well as PPF in same branch - (then ask them to give online access to your saving account, and request them to link PPF to your Savings Account)

      2. If you don't have saving account, best option in this case will be first open savings bank accont in your PPF branch (so that you get online access of your savings bank account and then link your ppf and get access to both under one user id)

      Before Opening savings bank account in PPF Branch, please check whether they can able to give your online access to your PPF, if they don't provide you such facility then no point openings savings account in their branch.

      Delete
    2. Please ask your PPF a/c branch officials to enable the PPF a/c to be viewed online. Thats the solution

      Delete
  2. how to link my father ppf account in sbi to my saving account in sbi

    ReplyDelete
    Replies
    1. This is not allowed.
      You can link your PPF to your savings bank account.
      Your father can link PPF to his savings bank account.

      Delete
  3. Hello Admin,
    I want to know about mutual funds and how to invest in mutual funds online also is investing in mutual funds is profitable or not??

    ReplyDelete
    Replies
    1. Refer this link as how to invest online in mutual funds in India
      http://mutual-funds-personalfin.blogspot.in/2012/09/online-investment-in-mutual-funds-in.html

      Delete
  4. can we link our minor child ppf account, with our sbi net banking?

    ReplyDelete
    Replies
    1. I am not very sure, but i think yes, it could be possible if guardian name in ppf account and in bank account is same.
      Example: if father is guardian in ppf account, where is bank account is of mother, so that will not get accepted. Underline point is guardian name is same in both that is ppf records as well as in bank.
      Other option could be open bank account in minor name and then link ppf account and child bank account. And that child's bank account you link to your savings account.

      Child bank accout which you will open, in this account guardian will be you.

      Please check with your bank as which option is allowed.

      Delete
  5. Hi Swaroop,
    SBI can link your PPF and Saving account with same netbanking username even though they both are in different branches. I get it done for myself few days back and it is working. You need to fill "PPF/Loan A/C(s) Linking Form" available at "https://www.onlinesbi.com/personal/reg_forms.html" and submit it to your saving account home branch.

    ReplyDelete
  6. Hi,
    I have a SBI Savings account & PPF account however both are in different branches. Now, due to some work & travelling contraint, I cannot visit SBI branch every month to deposit money in my ppf account. Is there a way that I can transfer funds online from SBI savings account or any other savings account (Non-SBI account) to my ppf account in SBI directly?

    ReplyDelete
    Replies

    1. Refer this post for your query.
      http://mutual-funds-personalfin.blogspot.com/2011/06/how-to-transfer-ppf-account-from-one.html

      Delete
  7. Hello, How can I link my new PPF account to the joint account my husband and I have with SBI? We already have linked my husband's PPF account to this joint account online but I'm unable to find an option to link my account. I see that the primary account holder is my husband, does this mean I cannot link my individual PPF account here and might have to create another online account just for PPF?

    ReplyDelete
    Replies
    1. Hi,
      Bank rules differ from one bank to another, so very difficult for me to comment on this.

      But in my case, I was having joint account and i was not the first account holder, so my bank suggested me to open new bank account and then connect and do the trasnsfer and chk your ppf status, i did that.

      So first option chk with ur bank or open bank account and connect ur ppf and bank account and ask for online access for ur netbanking account.

      Delete
  8. I also wanted to link my PPF account with SB account. However when I visit my local branch they refused to do so and said that CIF no. is different for both the accounts and they cannot be linked. Is that true?

    ReplyDelete
    Replies
    1. I am coming to direct solution
      Open new sbi account to ppf CIF number, and then link both.

      Or check from bank whether possible to merge or tranfer cif numbers and get net banking access to one user id.

      Delete

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