SB Order 14/2022 Regarding introduction of the online account opening and closure through DOP Internet Banking for Public Provident Fund (PPF)

 

SB Order 14/2022

Regarding introduction of the online account opening and closure through DOP Internet Banking for Public Provident Fund (PPF)  

Subject: - Regarding introduction of the online account opening and closure

through DOP Internet Banking for Public Provident Fund (PPF)

Accounts.

Madam / Sir,

In line with providing more digital transaction facilities to POSB customers, the

undersigned is directed to say that online account opening and closure for Public Provident

Fund (PPF) have been introduced in DOP Internet Banking. Now DOP Internet Banking users

can open and close their PPF account online. For more details kindly read FAQ available at

link https://ebanking.indiapost.gov.in

2. The option for opening and closing of Public Provident Fund (PPF) account is

available under the ‘General Services’ tab of DOP Internet Banking. Internet Banking user

should follow the below prescribed procedure for opening and closure of PPF account: -

(a) Procedure for opening of PPF Account: -

➢Login into DOP Internet Banking

➢ ‘General Services’

➢ ‘Service Requests’

➢ ‘New Requests’

➢ PPF Accounts – Open a PPF Account

➢ Deposit Amount (Enter Amount for which PPF account is to be opened minimum ₹

500 or above in multiple of ₹ 50 upto ₹ 1,50,000/-

➢ Debit Account (Select linked PO Saving Account)

➢ Click on ‘Click Here’ to read terms and conditions and accept terms and conditions

➢ Submit online

➢ Enter Transaction Password

➢ Submit.

➢ View/Download Deposit Receipt.

(b) Procedure for Closure of PPF Account: -

➢ Login into DOP Internet Banking

➢ ‘General Services’

➢ ‘Service Requests’

➢ ‘New Requests’

➢ Closure of PPF Accounts

➢ Deposit Account (Select PPF Account to be closed)

➢ Credit Account (Select linked PO Saving Account)

➢ Submit online

➢ Enter Transaction Password

➢ Submit.

➢ View/Download Closure Receipt.

Note: - (i)(ii)(iii)Logout and login again to view the details of PPF Account closed.

Only matured account can be closed under this option.

As premature closure is allowed under specific conditions, for premature closure

kindly submit account closure form, passbook and relevant documents at Post Office

concerned.

3. It is requested to circulate these instructions to all post offices for information and

guidance. Adequate promotion of this functionality is to be given for the benefit of POSB

customers.

4. Hindi version of this SB order will be issued in due course.

5. This issues with the approval of the competent authority.

Yours Sincerely,

(Devendra Sharma)

Asst. Director (SB-I