How to Transfer PPF Account from One Bank to Another?

I had to transfer my PPF account to another bank for some personal reason. To know about the right process, I called my current bank’s helpline number and asked them how to transfer PPF account from one bank to another. The executive told me that to start the process; I needed to visit the nearby branch of the bank and bring along my PPF passbook. Below are the steps that he asked to follow.

How to Transfer PPF Account to Another Bank?

After visiting the branch, he told me to collect a transfer application form and fill it out with the proper details. In the transfer form, I had to add the full address of the new bank branch. Here’s what happened after that.

• After filling out the form, I had to submit it. 

• Next, I asked for the transfer request receipt. 

• My current bank began the transfer procedure and sent all records to the new branch.

• After the transfer process, my new bank notified me. 

• I visited the new bank to finish the KYC process. I had to provide a copy of my PAN card, identity proof and address proof.

And that was it. The entire process of moving a PPF from one bank to another took around a month. I hope you find this helpful. 

In India, PPF stands for Public Provident Fund. It is a popular long-term savings and investment scheme introduced by the Indian government. The PPF scheme is backed by the government and offers attractive tax benefits. The best part is that you can move PPF account from one bank to another. The Government of India allows for the transfer of PPF accounts to provide more convenience to account holders who may want to switch their account from one authorised bank or post office to another

Let me share how can we transfer PPF account from one bank to another, learn that you can. I transferred my PPF account to ICICI, so let me cite it as an example and explain the process to you. I am sure it will be helpful. So read this piece of information till the end.

How to transfer PPF account from one bank to another online?

First, do note that, as of now, there is no online method to get your PPF account transferred from one bank to another. You must have gone through Aniket’s answer as well and learned the same. This is what I did to do my PPF account transfer to other bank

I went to the ICICI bank and asked the officials about it and learned that-

• Get a form of PPF transfer

• Fill the form with relevant details like name, UAN number and more

• Submit some former bank related documents to the new once

Once this is done, your former bank will send the original documents, like the certificate copy of the account, the account opening application, the nomination form, and more, to your new bank, in my case, it was ICICI. Then your request will be processed, and the transfer will take place within a week.

I hope this clarifies the query- can we change PPF account from one bank to another or not, and how. In short, all you need to do is submit a form and let the officials do their work. Next time, do not worry about your PPF transfer. You will get the entire amount. This is the most common question I hear from people- can I transfer PPF account from one bank to another and I am sure everything is clear to you all now.

Whenever you change jobs, just make sure you do the PPF transfer soon. The more active you are, the better it will be. 

This is all I can say on- can we transfer PPF account from one bank to another or not.

The PPF (Public Provident Fund) is one of the most popular investment options among Indian savers mostly because of its exempt tax status and a high degree of safety. There can be several reasons why one would want to transfer a PPF account from one account to another. Fortunately, the process is not difficult. Read below to know about the process.

• Go to your existing bank branch along with your PPF passbook.

• You will have to fill out and submit a transfer application form, which will include the complete address of the bank's branch where you want to transfer your PPF account

• After that, the existing branch will begin the process. Don’t forget to obtain the transfer request receipt. The existing branch will send these documents to the new branch:

1) Original Account opening application form

2) Nomination form

3) Certified copy of the account

4) Existing PPF passbook

5) A demand draft or cheque of the outstanding balance

6) Specimen of your signatures

• After receiving the documents from your old branch, the new bank branch officials will ask you about your documents’ receipts.

• At the new branch, you’ll have to submit the new account opening form, original passbook, and change of nomination form (if any)

• You might have to undergo the KYC process again so don’t forget to keep your photographs,  address proof,

  PAN card

  , etc.

Now you know how to transfer PPF from one bank to another.

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I hope I cleared all your doubts on how to transfer PPF account from one bank to another.