How to transfer your Public Provident Fund (PPF) account from one post office or bank to another

Read how you can transfer your PPF account from one location to another. The need for transfer, the procedure of transfer and other aspects related to PPF account transfer are discussed in the article.

Sometimes people find it difficult to transfer their PPF account from post office to their bank account or from one bank account to another. This article explains the process of transferring Public Provident Fund (PPF) account from one place to another (post office or bank to another post office or bank)

Reasons for transferring PPF account

The major reason why people change their PPF accounts is due to migration from one place to another. When you change your location, it is necessary that for easy management of your PPF account, your post office or bank must be in close proximity.

Check this also: PPF vs Fixed Deposits: Which is better and why?

Many people these days are moving their PPF accounts from post offices to banks because a post office does not offer online management of your PPF account, whereas banks do. Net banking facility offer several facilities like bill payments, insurance policy management, etc apart from regular banking facilities and PPF management is another such facility available through online banking. Hence people see this as a more convenient option.

PPF Account Transfer

Things to remember while transferring PPF account

  • The process of transferring a PPF account is somewhat similar to opening a new PPF account, your old PPF account will still be active and all the existing balance and earned interest will be transferred to the new account. The designated post office or bank branch will only change.

  • There will be no loss of interest on your deposited amount. Interest on PPF is ideally calculated between the end of the 5th day of a month till the end of that month on the lowest balance during this period. But the interest will be paid only once a year, at the end of the financial year.

  • The interest earned up to 31st March (end of current financial year) will be credited by the bank or post office from where you previously held your PPF account and the interest from 1st April (start of present financial year) will be calculated and added by the bank or post office where you presently hold your PPF account.

Procedure to transfer PPF account from one bank/post office or to another bank/post office

  • Before initiating the transfer process, it is ideal to take a copy of your existing PPF passbook. This can be useful in case of any discrepancies later on or can be used as a proof of investment for saving taxes.

  • A written application requesting the transfer must then be submitted at the bank or post office where the PPF account is currently held.

  • The application must include your PPF account details, name and address of your current PPF account holding bank/PO as well as the name and address of the bank/PO where the account must be transferred.

  • The PPF Transfer Form (SB 10-b) must also be filled and attached with the written application.

  • Next, verification of signature is done by the existing bank or PO.

  • After this process is completed, the existing bank or PO will transfer the original certified copy of the PPF account, specimen signature, account opening application and other details to the bank or PO address mentioned by the customer.

  • Along with these documents, a cheque or DD for the balance outstanding in the PPF account is also sent.

  • Once these documents and cheque/DD are transferred to the new place, you again have to fill a fresh PPF Account Opening Form (Form A).

  • If you did not opt for nomination earlier, then you also need to fill a PPF Nomination Form (Form E) .

  • If you have already have a nomination and want to change the nominee, then you must fill PPF Change of Nominee Form (Form F) .

  • Next you must submit KYC documents. Fresh KYC documents have to be submitted again even if you submitted them earlier.

  • You will get a new PPF passbook from the new PO or bank and the balance held at the previous PO or bank will be shown as 'Balance Transfer'.

  • Your PPF account will be treated as 'Continued Account' and will be maintained by the new PO/bank.

One can download the PPF account transfer forms from

Common problems faced while transferring PPF account

  • If the transfer is from a post office to a bank, then there is a lot of delay in the process mainly due to the lethargic officials.

  • There might be issues in crediting interest. The previous bank/PO will credit interest up to 31st March of the financial year and the new bank/PO must calculate the interest considering the balance from 1st April. But sometimes they calculate the interest considering the balance from the date of actual transfer of the PPF account rather than from 1st April.

  • For example, if you transferred your account on 1st May 2015, then the interest must be credited considering your balance from 1st April 2015, but it is calculated from 1st May 2015.

  • To rectify such errors and delays, customers have the option to file an RTI or complain to the bank.


Author: Anwesha30 Jun 2015 Member Level: Gold   Points : 1

Is there any online option to transfer the funds? I don't expect there would be one for the post office, but, as we all are enjoying internet banking, is there any option to undergo the entire process through Internet Banking?

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