Public Provident Fund is one of the best long-term investment options available in India that guarantees guaranteed returns. It is mostly used for the education or marriage of children or to create a retirement fund. A deposit in PPF can be claimed for deduction in income tax through Section 80C of income tax and no tax is levied on withdrawal of money at the time of maturity. Money can also be deposited in PPF online along with offline. Money can be deposited in PPF online in 3 different ways.

Know how to deposit money in PPF in 3 ways

ECS: Through ECS Mandate you can transfer money to PPF account. First the ECS mandate has to be set from the PPF account. In this process money is deducted from the account and deposited in PPF. This process can be used to transfer interbank money.

Standing instruction: Suppose if the savings account and PPF are in the same branch, then for this process, the consumer has to inform the bank, that the monthly money can be transferred from the savings account to the PPF. However, a maximum of Rs 1.5 lakh can be transferred in a financial year. Once information is given to the bank on your behalf, the bank automatically sends the money from the savings account to the PPF account.

NEFT: Money can be deposited in it through NetBanking, for this PPF account number and IFSC code of bank branch can be used. NEFT can be done through both savings account and current account. It takes 30 minutes, while the intra bank process can take a few minutes / hour.

Also Read:

SBI cheque book can be ordered online, Apply this way

Reliance reaches at the top, TCS suffers heavy losses

Mistakes can be costly, know the right way to invest

17,722 crores of investment in Indian markets