DOP Introduces online account opening and closing of PPF account

Customers of Post Office Savings Bank (POSB) accounts can now open and close Public Provident Fund (PPF) accounts via the Department of Posts’ (DOP’s) Internet banking service. On August 30, 2022, the department released a memorandum regarding this.

The Department of Posts (DOP) has said in an official circular that “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.”

The “General Services” tab of DOP Internet Banking, according to DoP, contains the option for opening and closing a Public Provident Fund (PPF) account. The recommended procedure for opening and closing a PPF account is as follows for POSB customers.

As per the guidelines set by the Department of Posts “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. You can login again to view the details of PPF Account opened under ‘Accounts’ section.”