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  • PPF Account Transfer

    Only post offices and authorized banks are capable of legally opening PPF accounts for individuals.

    Only one PPF account can be held per adult individual, except in the case where a parent or guardian is creating and maintaining an account on behalf of a minor.

    The PPF Account itself, however, can be transferred from a bank to the post office, and vice versa. The account can also be transferred between branches of the same bank.

    The process for the same is very simple:

    • The PPF account holder is required to submit a PPF transfer request at the bank branch or post office in which he or she has created the account.
    • The post office or bank branch at which the account was created will send across all original documents like the certified copy of the account, account opening application, specimen signatures, nomination form, etc. to the bank branch or post office in which the account holder wishes to transfer his holding. All these documents will be accompanied by a cheque or demand draft (DD) of the outstanding balance in the PPF account at the time of transfer.
    • Most banks require the customer to re-submit a new PPF account opening form, nomination form along with the original PPF passbook, when he or she has been intimated by the bank that the transfer of documents has been completed successfully and the cheque / DD has been received successfully.
    • A new set of KYC documents are also required to be duly filled in.
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