SB Order 14/2022 – PPF Online Account opening

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

SB Order 14/2022

F. No. FS-13/7/2020-FS
Government of India
Ministry of Communications
Department of Posts
(FS Division)

Dak Bhawan, New Delhi-110001
Dated: 30.08.2022

To,

All Head of Circles / Regions

Subject of SB Order 14/2022: – 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.

Note: –

(i) Log in again to view the details of PPF Account opened under ‘Accounts’.
(ii) PPF Account will be opened in the name of DOP Internet Banking user and nominee will be same as registered in linked PO Savings Account.

(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) Logout and login again to view the details of PPF Account closed.
(ii) Only matured account can be closed under this option.
(iii) 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-II)

Copy to: –
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post website.
16. ADG (OL) for information and Hindi Translation of this SB Order.
17. Guard File

Download PDF of SB Order 14/2022