Queries wrt IPPB account

Hello everyone,

Greetings!

I just came to know about IPPB account, wherein I can trasfer funds to my PPF account online.

However, I am confused with the concept and have below queries :

1. Is this IPPB account different from Post Office Saving account or same?

2. Do I need to visit Post Office for getting it opened (if different account)? Documents required to be carried?

3. Do I need to visit and get IPPB account from same post office, in which I have existing PPF account or any post office will do?

4. How to link existing PPF account with IPPB account?

5. Are there any minimum balance charges levied in this account?

6. Is there any passbook / Debit card for this account?

Request guidance.

Regards, more

Helpful Tax, Investments and Retirement Oct 16

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View all 7 comments Below 7 comments

Kanagaraj RK (Member )

Hi Shailey, a. Yes, IPPB operates just as a mobile wallet, like paytm or something but via post office. b. Obsolutely fine, you just need your thumb impression to open/register for the account. This is just to fetch your details from aadhaar database. c. You will get Account number, Passbook, Branch Name and IFSC code for your PPF account. more

Oct 18

Kanagaraj RK (Member )

Hi, 1. Yes, IPPB account is different from Post Office Savings bank Account. IPPB is just a mobile app like Paytm or Google Pay. Opening IPPB account is just you are registering yourself with your finger print, so that it fetches all details about you to register with IPPB. Once you have IPPB, you will have an UPI ID. With that, you can transfer fund from your existing bank account to IPPB. Then using the IPPB mobile app, you can transfer that to the PPF account. Instead of visiting personally to post office often. 2. To open IPPB account, yes you need to visit the post office just with your fingerprint :) and a mobile to get OTP for registration. Once registered, you can download and install IPPB official mobile app and do transactions. To open PPF you need a copy of Aadhaar and PAN. 3. No, you can open IPPB in any post office. It doesn't matter where you have PPF or Savings account. 4. There is no linking concept with PPF and IPPB. As said in Point 1, You can just transfer the desired amount from IPPB to PPF by having your PPF Account Number, Name and IFSC. Just as you do NEFT. 5. No, there is no minimum balance charges for IPPB. 6. There is no passbook for this account. But I am not sure about debit card. more

Oct 18

Kanagaraj RK (Member )

Hi Shailey,

a. Yes, IPPB operates just as a mobile wallet, like paytm or something but via post office.

b. Obsolutely fine, you just need your thumb impression to open/register for the account. This is just to fetch your details from aadhaar database.

c. You will get Account number, Passbook, Branch Name and IFSC code for your PPF account. more

Oct 18

Shailey Goyal

Thanks a ton for the perfect reply, Kanagaraj. Appreciate it.This is really helpful.
However, just for understanding:
a. As replied in Point no 1, does IPPB account operate as wallets only, but via Post office
b. Is it safe enough, as thumb impression is required
c. As replied in point no 4, IFSC code is required - but for which bank or is it for Post office?

Thanks in advance. more

Oct 18

MM Ali Khan (Senior Citizen) (Senior citizen)

Kindly post more details. more

Oct 17

Santhosh Hegde

Why dont you start the PPF account with Public Ltd Bank, where you have online SB account and transfer amount online as per your convenience. In case of Post Office SB account , you give a standing instruction to concerned PO Branch to transfer amount to PPF account in Post office having Net Banking facility. more

Oct 16

Prannath Shali

Yes, a clarification is needed in theater. more

Oct 16

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