Opening a Public Provident Fund or PPF account is very easy as many banks are offering the same facility. But do you know how many banks are offering PPF account with Online fund transfer facility? Technically every bank should have provided such facility.
In this article I will share the list of banks offering ppf account in India and where you can invest money on systematic manner by scheduling an automatic payment. I have opened PPF account in SBI and also in Axis bank for my wife and I am able to transfer money online easily.
List of Banks Offering PPF Account Opening Facility
Here is the list of 26 banks providing ppf account facility. You can choose any one with which you have already savings bank account, so that you can link your PPF account with savings account & track easily.
- State Bank of India or SBI
- State Bank of Patiala
- State Bank of Bikaner
- State Bank of Jaipur
- State Bank of Travancore
- State Bank of Hyderabad
- State Bank of Mysore)
- ICICI Bank
- BOB – Bank of Baroda
- Central Bank of India
- BOI – Bank of India
- Union Bank of India
- Vijaya Bank
- Allahadbad Bank
- Oriental Bank of Commerce
- Bank of Maharasntra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- Indian Bank
- IOB – Indian Overseas Bank
- PNB – Punjab National Bank
- United Bank of India
- Axis Bank
If you have your PPF account in post office, then there is no option yet to transfer money online. In case if bank, I think this should be possible for every bank by adding PPF as a biller or payee or beneficiary and then schedule a standing instruction to make recurring payment in PPF account.
List of Documents Requited To Open PPF Account in Bank
In case you are planning to open a PPF account in any of the banks, then just let me add here the necessary documents you need to carry while visiting a bank to open a PPF account.
- Account Opening Form
- Nomination Form, is necessary
- Copy of PAN card
- Photo, ID
- address proof as per KYC guidelines.
Steps to transfer funds to PPF account?
Here are the generic steps which might be applicable to transfer money to your PPF account online without visiting your bank branch.
- Login to your Net banking account [I am using SBI & Axis Bank]
- Go to Third Party- Add your PPF account number
- Enter name as in PPF account or whatever your want
- Select the branch where your ppf account is held
- Verify the PPF account just added
- Now visit your fund transfer page and schedule a recurring payment choosing the standing instruction option in case you want recurring payment. Otherwise you can go for one time payment.
You may find my steps similar to PPF account in SBI, as I am using it from years now. In case of other banks, if something is different, then I would like to hear the same form your experience. Kindly write a comment below and share more information in this topic.