Transfer PPF Account To Other Banks or Post Office
The account can be transferred to other branches other banks or Post Offices and vice versa upon request by the subscriber. The service is free of charges.
Step 1 – Approach the bank or post office branch where the PPF account is held and ask for the form for making the transfer. The bank or post office will provide you with a form which is to be filled.
Step 2 – The existing bank will then forward the certified copy of the account, the account opening application, nomination form, and specimen signature. It will also forward the cheque/dd for the outstanding amount in the PPF account to new bank at the branch specified by the customer.
Step 3 – Once your bank receives these documents, the bank will inform you and ask you to submit a new PPF account opening form along with the old PPF passbook. You can also provide nominations for this new account. You will also be required to submit the KYC documents.
Step 4 – If you hold an internet banking facility with your bank, after a few week, check that the transferred PPF account now shows up under the PPF account tab/link in your login. If that is not the case, enquire the local bank branch.
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