How to Transfer Your PPF Account?
By Anupama Deshpande | May 25, 2018

Public Provident Fund (PPF) is one of the safest investment options available in India. It not only provides guaranteed fixed returns but also offers tax rebate under section 80 C of Income Tax Act, 1961. A person can open PPF Account either with a Bank or with a Post Office.

A person is allowed to transfer his/ her Public Provident Fund (PPF) Account from a bank or a post office to another bank or post office or any other branch of the same bank where he/ she maintains PPF Account.

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• No facility of Online Fund Deposit in PPF Account maintained with Post Office
• Relocation to another city
• Person's existing PPF branch may be very far from the residence
• The person is unhappy with the services of bank or post office where his/ her PPF account exists

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Following is the step by step process to transfer your PPF Account:

1. You need to visit personally to the bank/ post office, where you are maintaining your PPF Account
2. You have to carry your PPF Account Passbook with you
3. You must take a photocopy of the existing passbook for record of old transactions
4. Obtain a PPF Account Transfer Request Form from the branch. In case your current PPF account is with a post office, you would need to fill transfer form "SB 10(b)"
5. Fill up the PPF Account Transfer Request Form completely. In this form, you need to mention the name and full address of the bank or post office, where you want to transfer your PPF Account
6. Submit the form to your branch
7. Obtain the acknowledgement of your transfer request from your branch
8. First of all your signature will be verified and then your branch will start the transfer process
9. It will send following documents to your new branch whose address has been mentioned on PPF Account Transfer Request Form by you:
   • Existing PPF passbook
   • Certified copy of the account
   • A cheque or demand draft (DD) of the outstanding balance in your PPF Account
   • Original PPF Account opening application form
   • Your specimen signature
   • Nomination form
10. Once the PPF transfer documents are received by the new bank/ post office, the customer is required to submit following documents at the new bank/ post office:
    • Fresh PPF Account Opening Form (Form A)
    • Fresh Nomination Form (Form E) or change of nomination (Form F)
    • Original PPF Passbook
    • KYC documents i.e. one photo, proof of address and PAN card
11. After submission of above documents, your account will be finally transferred to the new bank/ post office
12. After that a new PPF passbook will be issued to you and your outstanding balance will be shown as credit of balance transfer
13. Though the new PPF account will carry a new PPF Account Number but will be considered as a continuing PPF Account
14. This whole Transfer Process may take upto one month's time

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• The transfer of PPF account will be considered as a continuing PPF account, and not a new one
• Other benefits like loan facility and premature withdrawal facility will not get affected even after transfer
• You can transfer PPF Account from Post Office to Bank and enjoy online fund transfer facility to PPF Account
• The account holder can opt for change of nomination during transfer of PPF Account

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