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In this fast moving world it may have so happened that you have moved from one place to another but your PPF accounts have not been transferred. In case you are finding it difficult to commute to that place or not able to visit due to hectic schedule, here is how you can transfer your PPF account from post office to bank or vice a versa.
Click to know on how to open SBI PPF account.
- Write your request on a piece of plain paper.
- Download transfer form (SB 10 form) if you are transferring from post office
- Inform where you want to transfer your account
- Submit along with your passbook
- Deposit photocopies of documents for ID proof, which can be PAN card, voter's ID card, etc.
- Once it is submitted, the account is closed and it is sent to requested bank along with your documents and balance amount by demand draft or cheque.
- You will receive call from your requested bank
- New passbook will be issued.
The complete procedure to take 3- 4 weeks and there are no charges to transfer account.
Click to know on opening online ICICI PPF account.
Points to remember while transferring
- Ensure you have updated your passbook which includes your latest transaction
- Take the photocopies of passbook before you submit
- News passbook given will not have records of previous transaction
- Transferred account is treated as continued account.
- One can change nominee while transferring account.
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