Learn in Easy Steps How To make Credit payment To Syndicate Bank PPF Account from Anywhere – Public Provident Fund or PPF is one of the most popular investment instrument for all type of investors. PPF accounts are opened with any of the banks and post offices. There are many Public Sector and Private sectors banks which are offering, the opening of PPF account through online mode itself with option of NEFT, Standing instruction facilities for inward credit to PPF account. Syndicate bank, A public sector government bank is also offering opening of Public Provident Fund (PPF) through any of their designated branch. Currently, Syndicate bank doesn’t offer opening of account under online mode.
How To transfer Amount to PPF Account of Syndicate Bank ?
Syndicate bank is offering opening of PPF account through their designated branches. The payment in the PPF account are accepted through various extant mode like Cash, Cheque, DD etc. Syndicate Bank doesn’t provide facility for making payment to PPF account through Online mode like Internet Banking or Mobile Banking.
Read – Who cannot open PPF account?
Customer of Syndicate bank’s PPF account are having option to make payment through offline mode at any of the designated branches in India. The process for crediting payment to Syndicate Bank PPF accounts from any of the branches is :
- Visit any of the branches of Syndicate bank with Cheque/cash etc.
- Follow the existing guidelines for making payment through cash
- Making payment through any other debit instrument like Cheques/Demand Draft/PO etc, carry the instrument in original
- Fill the details and enter the PPF account number in the “Pay” row of instrument as like PAY 9033PPF00000000XXXX, where 9033 is the branch code
- Deposit the instrument at any of the counter and receive the acknowledgment
- payment will be credited to your account within stipulated time
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Public Provident Fund returns are normally higher than the Bank’s Fixed Deposit rate. Investors of PPF gets the benefit of Income tax on the maturity amount and rebate under section 80 (C) up to Rs 1.50 lacs. In PPF Contributions, interest and proceeds on maturity are all tax-free. The rate of interest for PPF accounts are kept as 7.6% for this financial year.
PPF Investors also get the benefit of loan facility and partial withdrawal on PPF account.