Using the Apps like IIPB (India Post Payment Bank) or India Post Mobile Banking App, Post Office now offering online deposit in Post Office PPF, Sukanya Samridhi, RD account easily. Let us see the available options for the same.
PPF, Sukanya Samridhi or RD accounts require a frequent deposit. However, earlier it was cumbersome to do it online deposit in Post Office PPF, Sukanya Samridhi, RD accounts as there was no such facility earlier.
Now using the IPPB (India Post Payment Bank) App or India Post Mobile Banking App.
Let me explain to you one by one.
Online deposit in Post Office PPF, Sukanya Samridhi, RD – How to do?
First let us understand the features of Online deposit in Post Office PPF, Sukanya Samridhi, RD using IPPB Mobile Banking App.
# Online deposit in Post Office PPF, Sukanya Samridhi, RD using IIPB Mobile Banking App
IIPB Mobile Banking App was launched in September 2018. IPPB (Indian Post Payments Bank), was launched by the government to make banking services available at the doorstep. This Indian Postal Department will work via a network of Post Offices. There are various services available under this such as Mobile Banking, SMS Banking, Missed Call Banking etc.
You can download the app HERE.
If you have an IIPB account opened through Post Office or Postman, then you are considered as an existing customer. Enter details such as Account number, Customer ID and registered mobile number you will receive an OTP. After verifying OTP you will be able to access your account via this App.
However, if you are a new user then you can open a digital account online. This account has some restrictions and you need to open a regular savings account within 12 months. This service is available at a doorstep. You can call on a Toll-free number to request a doorstep account opening service or you can also visit the nearest Post Office. Digital account opening service is currently on hold due to the supreme court’s judgment on Adhar Based KYC. However, with the recent amendment to KYC, I hope this service will open again.
To make an Online deposit in Post Office PPF, Sukanya Samridhi, RD customer should have an active PPF, SSA or RD accounts and customers should be corresponding and account number and Customer ID. The steps for Online deposit in Post Office PPF, Sukanya Samridhi, RD using IIPB App are as below.
# Add money to your IIPB Account.
# Go to DOP Products. Choose PPF, SSY or RD.
# Write your PPF, SSY or RD Account numbers for which you wish to deposit and then DOP Customer ID.
# Choose the installment duration and amount.
# IPPB will then notify you for successful payment transfer made through IPPB mobile application.
Do remember that using IPPB you are unable to open NEW accounts. But can only deposit to your existing PPF, Suknya Samridhi or RD.
# Online deposit in Post Office PPF, Sukanya Samridhi, RD using India Post Mobile Banking App
India Post Mobile Banking App has been launched by the Department of Posts for Post Office Saving bank account users. This app is available to android users and you can download HERE.
Who can use India Post Mobile Banking App?
- You must have a single or joint type Post Office Savings Account in CBS (Core Banking Solutions) enabled Post Office.
- Your account is enabled for internet banking services with transactions and login credentials.
- You need to have valid PAN, Email ID, unique Mobile Number.
- Your account must be KYC complied.
- Remember that one mobile number can be used for only one account. Hence, if you have multiple accounts, then you have to provide different mobile numbers.
If you have all the above things in place then you can submit a duly signed form at CBS Post Office where your POSB(Post Office Savings Bank) account is held. After submitting the form mobile banking facility should be activated within 24hrs.
Once you get the credentials from Post Office you can click on activate Mobile banking. OTP will be sent to the registered mobile number. Upon successful validation, you will be asked to enter MPIN and then you are all set to login.
Here also, as I have explained above, using the DOP products option, you can invest in PPF, SSY and RD accounts. However, using this feature you can’t open the new PPF, SSY and RD accounts.
Conclusion:-Using IIPB App or India Post Mobile Banking App, you can do the online deposit in Post Office PPF, Sukanya Samridhi, RD accounts. However, both are currently having more glitches like typical Government Apps. Also, if you are holding multiple accounts with the same mobile number, then it is far better to use the IIPB App rather than India Post Mobile Banking App.
If both these Apps provide an option to open PPF or Sukanya Samridhi Accounts online, then I think a service is better.
Let me know your experience of using both these apps.
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