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[How to] transfer funds to PPF account online

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In today’s net savvy world, visits to banks are becoming less and people are interested in transacting online. 

You can also transfer funds to your PPF account online if you have PPF account in SBI or other Banks. You can deposit money in PPF account online via netbanking.

If your PPF account is in Post office, then such online funds transfer is not possible.

In my last post, I concluded that PPF is one the safest, tax eficient long term investment. Read the complete article.

Scenario 1: If your PPF Account is in SBI & Saving Account is in another bank

1: Logon to your Savings account netbanking (ICICI/ HDFC/ any other bank)

2. Add your PPF account as “Third party Beneficiary” so that you can transfer funds to it
a) Enter Payee Name – Same as Name in PPF Account
b) Select SBI branch where PPF account is maintained
c) Enter Payee Account number – as your PPF Account number

Once you have completed these steps you can see your PPF account as the 3rd party account where you can transfer the money just like you send it to any account.

Scenario 2: If your PPF Account is in SBI & Saving Account is also in SBI (Same branch)

In case you have your PPF account and savings account at same SBI branch, then you can see your PPF account already linked with your Bank account in NetBanking and you can transfer the money.

In this case, there is no need to add PPF Account as Third Party Beneficiary. You can transfer money as Funds Transfer.

Scenario 3: If your PPF Account is in SBI & Saving Account is also in SBI (different branch)

In case you have your PPF account and savings account with SBI but in different branches, then you should call Customer care or visit branch & ask them to link the accounts. In the meantime, you can transfer funds using the option of adding “Third Party Beneficiary”.

Best Option for NRIs

Online Funds transfer is the best option for NRIs as they can’t visit branch to deposit the PPF amount.  An NRI can continue to deposit money in PPF account which was opened before becoming an NRI.

FeedbackPlease share your experience in transferring funds online to your PPF Account.

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

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The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

61 comments

  1. If I have a saving account and PPF account in ICICI Bank, than how do I transfer the amount

    • If you have PPF account in ICICI Bank, both will be maped under same Customer ID and you can do the transfer online.

      • Hi Vivek,

        Can you please confirm the max amount that can be deposited for a financial year in the PPF for someone who has recently converted to NRI and has converted his savings account into an NRO account. for non-NRI the max deposit in PPF is inr 150000, does it remain the same for NRi who want to continue their exisitng PPF.

        Regards,
        Akshat

  2. I have PPF account in Canara Bank & saving account in Axis Bank .Can I transfer the amount online in PPF account ?

    • Hi Santendra, You can transfer money to Canara bank PPF through your Axis Bank Net Banking.

      You need to add beneficiary in your Axis Bank Netbanking – IFSC code of your canara bank branch & PPF Account number as Account number

      Once authorised, you can transfer funds.

      • Sir, I add beneficiary in my Axis Bank netbanking – IFSC code of my canara bank branch & PPF Account number.But funds did not transfersd.

        • When did you transfer the amount ? Did you get any error? Did you check your PPF account after 3-5 days ?

          • Sir, I transfered the amount in canara bank PPF account from Axis Bank saving account through Net Banking. First my account debited & then credtied the amount & the reason is Account does not exit. Thanks.

          • It seems that Canara Bank has rejected the amount as the PPF account number may not be in correct format. Can you please check that your PPF account is long form number ?

        • Digvijay Gautam

          Hi,

          This issue was seen by me also. Online transfer to Canara Bank PPF looks difficult as PPF acct no provided by Canara bank is in different format as compared to SBI or other PPF accounts. It has added PPF as prefix. So if we add this prefix it doesn’t send the money and if we remove the prefix, it still doesnt send the money as the number of digits fall short. You can try visiting the branch for more details.

  3. Hi Team, I’ve my PPF a/c with SBI, Telco Branch, Jamshedpur. I’ve migrated to Kolkata. Is it possible to transfer money online in my PPF a/c from my HSBC, Kolkata a/c.
    Also, is it possible to deposit money in any of the SBI Bank a/c in Kolkata?
    Is there a way to check the PPF a/c online?

  4. Can you guide me to check SBI PPF account balance via sms service as i do have Internet banking enabled for same.

  5. Hello, thanks for this article.

    One quick question – while transferring from third party transfer (HDFC Savings Bank Account) for PPF which is the account type for SBI PPF account to be chosen? Savings / current etc?

    Thanks

  6. Hi. I read somewhere that you can do PPF transfer online only if your PPF account is in SBI. Is that correct?
    I have a PPF account in BOI, and savings bank account in citi. Is it possible to do transfer?
    Also, what is the size of long format of PPF account no.s?

    • You can do online transfer to BOI PPF from other bank’s saving account, if you PPF account has long format.
      Normally long format is 10-12 digit account number.

      • Hi

        Can you please advise what do you mean by long format? The ppf account number given to me by BoB is just 4 digit. Does this mean I will not be able to transfer money iusing net banking from HDFC to BoB?

        Kindly advise,Thank you.

        • Hi Poonam, You are right. In that case, you will not be able to transfer funds online.

          Some banks have assigned PPF account number similar to bank account number (around 9-10 digits long) to identify the bank, branch etc..

  7. It does not work for HDFC . Please update your knowledge.

    • Hi Puja,

      please explain your query? Are you trying to send money from your HDFC account to SBI PPF ? or what are you trying to do and it is not working ?

  8. There is a 12 instalment in ppf if I missed 2 or 3. Month so can I deposit 2 times in one month???

    • Hi Imran, there is no installment in PPF. You can deposit max 12 times in a year. You can even deposit once, or2 times or 3 times… there is no penalty as long as you deposit atleast once in a year.

  9. Sir,
    Can I Deposit in PPF ON LINE ONE , TWO OR MORE TIMES IN ONE MONTH. Request to Advise

  10. This method of transferring funds from SB account of one bank to PPF account in another bank does not work.
    Why?
    Because when you create a payee – it asks for account number, (type of account) – SB, Current account, etc and Swift code.
    I choose SB account – and transfer failed because it gave the message – account does not exist.
    That is because – PPf account is not a SB account!.
    Till such time, the option of PPF account is not given in the account type (for creation of payee) this problem will persist.
    If anyone knows of any alternate option – please let us know. Thanks

    • Hi Rajesh, If the PPF account is long form , then it worked for some members. But you are right, it may not work in all cases.

  11. I have not paid into my ppf account for almost two years. Can I transfer fine amount and a contribution for this year from hdfc to SBI ppf account online. If so how much should I transfer as fine amount for each year that I have not paid.

    • you need to deposit the minimum amount of Rs 500 for each year as well as rs 50 penalty for each year.
      After transferring the money, it is better to end an application form to the bank where PPF account is maintained.

  12. What should be the “Type of Account” while adding the PPF account for third party transfer from HDFC Bank to SBI Bank.

  13. mukesh prajapati

    Can I know my Ppf Ac balance by SMS service. At which address SMS to be send??????

    • You cannot get the PPF balance via SMS. Either you can get it by visiting branch or online (if configured in netbanking)

  14. How do we get a reciept of our PPF payment when done third party transfer to SBI PPF account from other bank?

  15. Sabyasachi Ghosh

    I & my wife have a joint savings account in SBI Mumbai. I have a linked PPF account in same branch. My wife has a SBI PPF account in a kolkata branch. How do I link her PPF account to the joint savings account?
    Also, how do I make a 3rd party transfer to her PPF-account from my HDFC-savings account? “PPF” does not show up as a option under type of 3rd party transfer accounts? Do i consider the PPF account as a ‘Savings’ account?

    • 1) As your wife’s PPF account is not l,inked to her new customer ID. May be she can call to customer care and try to get it mapped to her new customer ID. But sometime they are not able to do it.

      2) Re funds transfer from HDFC, you can add that PPF account as Saving account. But it may work only if the PPF account number is in long format.

  16. Hi ,

    My PPF account is in AXIS bank and savings account in citibank.

    How to transfer money online from citi bank to PPF account of axis bank.

    • Transferring money online to PPF account is always challenging. It depends on the PPF account number of Axis Bank. Is it long format number which identifies the nature of account and branch etc.

  17. Hi Sir,

    My wife and myself has accounts in SBI . I have both Saving Account and PPF account created soon. My wife has account in different branch and my account has account in different branch. My wife has a saving account .

    Query :

    1) Sir, please tell me that can my wife add my PPF account as a beneficiarry account ( Third Party Transfer ) .
    2) Also can she transfer money in my PPF account .
    3) How much time will it take to transfer money in my PPF account from my wife’s account through internet banking.

    I will be much thankful to you , if you please help me to answer my queries.

    Regards,
    Arun Bhat

    • Hi Arun,

      The process of PPF transfr for PPF is not perfect. You can only do online transfer from saving to PPF if both accoutns are mapped under 1 customer ID. You cannot do third party transfer as many PPF account doesnot have long account codes that provide branch and other details.

  18. Hi,

    I am an NRI living and working abroad. I am planing to come back to India after 5-6 years. I can make a contribution of 30K INR per month for saving. Can you let me know the best way to save for retirement. I have NRE/NRO accounts as well, so transferring funds is not a problem.

    Thank you in anticipation.

    Regards
    Rahul.

  19. I have a PPF A/c in SBI and a Saving A/c in Axis Bank.
    1) Can i Deposit on line in PPF A/c
    2) Can i get the PPF statement through Online/E-mail

    • 1) Transferring money to SBI PPF account from other bank’s saving account doesnot work properly. it works fine, if you have SBI Saving account and PPF account under one customer ID.
      2) You cannot get PPF statement online or over email.

    • Digvijay Gautam

      Hi,

      You can easily transfer funds online to SBI PPF account.

      The email statement which you will get will not specifically mention that it has been transferred to PPF but you will be able to check passbook or online banking entry mentioning the transfer and also in PPF account passbook this amount will be reflected.

  20. can i pay PPF through SBI credit card. thanks

  21. Hi,

    what is the maximum limit of online fund transfer in a day from hdfc netbanking to SBI ppf account?
    Thanks

    • Hi Neerja, The limit will be same as limit for online transfer as imposed by HDFC bank. However, based on many readers experience, the online transfer to SBI PPF doesnot work properly. It is only working if you are transferring funds from SBI netbanking

  22. Krishna Gopal Kapoor

    Dear Sir,
    Can I transfer money online to my son’s PPF a/c ie. from my internet banking ( online ) to my son PPF account ?

    With regards

    K G Kapoor

    • Hi, in which bank / PO you have PPF account and which bank you have netbanking.

      Normally it is very difficult to transfer funds to PPF online. Only if the bank account and PPF account are in same SBI branch and you have netbanking. then only you can do it.

  23. Krishna Gopal Kapoor

    Dear Sir,

    You did not reply my question as yet asked on 26 July 2016 as above. I hope you will reply soon.Thanks,

    With Regards,

    K G Kapoor

    Lucknow

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