How to transfer funds or invest in Post Office PPF and SSY from bank account easily with or without adding the beneficiary. The complete procedure is explained.
One of the biggest hurdles in managing the PPF and SSY accounts with the Post Office is their rigidity with respect to the process of investment.
However, now the fund transfer is easily possible from your bank account to Post Office PPF and SSY accounts. Also, now using the NEFT or RTGS facilities you can transfer funds to a PO savings account and vice versa. In fact, as per the Ministry of Communications notification, one can do contributions online, with or without adding a beneficiary.
How to invest in Post Office PPF and SSY from Bank Account?
Before opting for this service to invest in Post Office PPF and SSY from bank account, first, follow the general instructions provided.
# PPF/SSY account should not have any pending previous year’s defaulted subscription. If the account has a pending…