IDBI bank is one of the leading bank of India. With all kind of facilities like International debit card, internet and mobile banking, vast range of ATMs, lockers, higher rate of interest with no penalty on premature withdrawal and many such more makes this bank a very attractive one.
Some time back, it also started online PPF account service. At that time, the customer was able to view his PPF account statement online. But now, IDBI has started another feature – now you can invest online in PPF via your IDBI bank account. In this article, we’ll discuss the same.
Note: You MUST have IDBI bank account and PPF account there to invest in PPF online.
Login to your IDBI internet banking account from its official website at http://www.idbi.com/index.asp
The step is simple and needs no extra description.
Now, click on “Accounts Tab” on top menu and then click on “PPF Accounts” tab.
You’ll get screen like this:
Now, under PPF accounts menu, as shown in above image, choose “Online PPF Subscription” option and click on “Go” button.
In next screen, you need to mention the amount you want to invest.
The screen is something like this:
It will display the details of your PPF account like PPF account number, name, address etc. Now, specify the amount you want to invest and Submit the form.
In next screen, you need to enter your IDBI bank customer id and transaction password.
You have successfully invested in your PPF account online. The amount will be reflected in your PPF account in next working day.
Few points to remember:
1. Minimum & Maximum subscription amount in a financial year are Rs. 500/- & Rs. 1,00,000/- (inclusive of arrear subscription) respectively.
2. Subscription to be in multiples of Rs. 5.
3. Maximum no. of transactions allowed in a financial year is 12.
4. In case of PPF account, where penalty for non-subscription in previous year(s) exist, system will automatically
calculate the penalty & arrear subscription due and the same will be debited along with the current year subscription from the account as selected by the subscriber.
5. Cyber receipt at the time of online subscription is Provisional and is subject to the PPF account statement updation.
6. The subscription debited from the customer’s account will be credited/updated to his/her PPF account on the next working day.
7. The counterfoil for the successful transaction/s can be generated through View/ Print Past subscription after the next working day.
8. In case of any violation of the scheme rule, the bank reserves the right to reverse the subscription amount without paying any interest.