Search This Blog

Showing posts with label PPF. Show all posts
Showing posts with label PPF. Show all posts

How to access PPF account online...



Online PPF facility is currently available in SBI, ICICI Bank and IDBI Bank.

In order to get PPF online access:

1. You must have Saving Bank Account and PPF Account from same Bank.
2. Apply for netbanking access for saving bank account.
3. Request Bank to link your Savings Bank Account to your PPF Account.





In SBI Bank you can link your SBI PPF account with your Saving Bank account and can transfer funds and check your PPF balance online. 

 What is required to get online access to PPF
Login id and password for net banking and then link you accounts and get the access.
Also refer:

But some banks permit PPF online transfers . For example, if you have your PPF account with SBI and your salary/savings account with ICICI Bank, you can log into net banking and add the SBI PPF account as a payee for transfer from your ICICI account. This option is for fund transfer from your bank to your ppf account,but you can't able to check your PPF Account Status)

ICICI very recently started PPF online Facility. (Here you can check PPF Status + Transfer funds to your PPF Account.


How to apply online PPF account in ICICI Bank:


If you have access to your ICICI NetBanking, in that click on PPF Account online

Step 1: Fill in the details required for opening a PPF Account

Step 2: Take a print out of the pre-printed form, affix your photograph and sign on the form

Step 3: Submit the application form and the nomination form to any one of our branches

The PPF account will be opened only in a designated branch of ICICI Bank authorised by the ministry of finance. To view the list of these branches please click here . Please mention the name of the branch where your wish to open your PPF account on the application form

If you have PPF account in any other bank or Post office, you can request for transfer of PPF account and  transfer account to SBI or ICICI.
But to get  PPF account on line you must have bank account linked + net banking facility.


How to link your SBI PPF to your ICICI Bank Account

This facility is not yet started, so you can't link your SBI PPF Account with your ICICI Bank account and check your PPF Status.

But still if you want to link Your PPF Account  then you need to transfer your SBI PPF Account to Your ICICI PPF Account and then link your icici bank and PPF account to get the online Access+fund transfer option.

But if you want only Fund Transfer option and don't want to Transfer your PPF Account then:
  
You need to Link your SBI PPF as Payee in your ICICI Bank for your yearly contribution in PPF in "Fund Transfer to Non ICICI Bank across India."
 


How to use Fund Transfer option in your ICICI Bank Account:

1. Login to your ICICI net banking account
2. In that click on "Fund Transfer"
3. In Fund Transfer select - "Fund Transfer to Non ICICI Bank across India"
4. Register SBI PPF Account as Payee
5. Add Payee Details and then click confirm
6. If your mobile number is registered, in such case, six digit URL will be sent to your registered mobile Number
7. Enter URN received on your mobile, and click on "Confirm Payee"
8. Once your Payee details are confirmed, you can able to transfer funds to your registered and confirmed Payee that is SBI PPF.
9. Then for Transfer of funds - Select SBI PPF as Payee, enter the amount you want to transfer along with transaction remarks and click continue
10. Verify the details and now its time to enter Transaction password to confirm your transaction for transfer.
11. Last page will be adding ATM/Debit card details as prompted, click OK to confirm. And after that within few hours amount will be transfered to your SBI PPF Account.

You can also refer this demo for fund Transfer

 

 

For Transfer of PPF account refer this Link


PPF will get higher rate of return from December 1, 2011


PPF account holders will get higher rate of return from December 1, 2011. The government today notified increase in interest rates on public provident fund (PPF) to 8.6 per cent from 8 per cent now, and also raised ceiling on annual contributions to the fund to Rs one lakh from Rs 70,000.
Other changes in Small Savings Schemes and Kisan Vikas Patra (KVP)

1. Interest rates on Post office deposits would also see a rise in interest rates from 3.5% to 4%.

2. The sale of Kisan Vikas Patras (KVP) will be discontinued from November 30, 2011.

3. Monthly income schemes will earn an interest of 8.2 per cent, but accounts opened on or after December 1 will not be entitled for bonus.

4. Monthly income schemes (MIS) would see a reduced period of maturity from 6 to 5 years



Deposit Limit will be Raised from Rs. 70000 to Rs. One Lac in PPF Scheme


Modification in PPF Scheme : Deposit Limit Raised from Rs. 70,000 to Rs. One Lac while Rate of Interest on Advances Against Deposits in PPF Scheme Raised from 1% to 2 Percentage Points 

The Committee on Comprehensive Review of National Small Savings Fund (NSSF) headed by Deputy Governor, RBI has recommended revision of certain provisions of PPF Scheme, 1968 and benchmarking of interest rates on various small savings schemes with the secondary market yields on Central Government securities of comparable maturities with suitable spread.

The Committee has recommended increasing the deposit limit under PPF Scheme from existing Rs. 70,000 to Rs. 1 lakh per annum and fixing of rate of interest on advances against deposits in PPF scheme at 2 percentage points as against the prevailing interest rate on such advances at 1%.

The Committee has further recommended benchmarking interest rate on small saving schemes to interest rate on Government securities of similar maturities with a positive spread of 25 basis points on all schemes except for 50 basis points for 10 year NSC and 100 basis point for Senior citizens Savings Scheme. Recommendations of the Committee have been referred to State Governments and concerned Ministries/ Departments of Central Government for their comments.

This information was given by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question raised in Rajya Sabha today.

source: Central Govt. Employees News

Scan this QR code using a bar code scanner on your smart phone to get instant information about us

Scan this QR code using a bar code scanner on your smart phone to get instant information about us
Investing Can be Interesting & Financial Awareness

Popular Posts

Golden Rules for Investing

Golden Rules for Investing
Golden Rules for Investing