Search in Indianmoney's WealthPedia

Home Articles How to Transfer PPF Account?

How to Transfer PPF Account? Research Team | Posted On Thursday, November 21,2019, 05:39 PM

4.9 / 5 based on 32 User Reviews

How to Transfer PPF Account?



The Public Provident Fund or PPF is an excellent investment for conservative investors. It currently offers 7.9% for the October to December 2019 quarter, which is much higher than fixed deposits. The investment is very safe and enjoys a Sovereign Guarantee. It also offers EEE tax benefits where the investment in PPF enjoys Section 80C tax deduction up to Rs 1.5 Lakhs a year. The interest and amount withdrawn at maturity is tax-free.

Few people know that you get a loan against PPF. The interest charged is just 2% above the PPF rates. You get this facility from the third financial year only till the sixth financial year. The loan against the PPF interest rate is lower than the personal loans and credit card rates. Personal loan rates range from 14-22% a year. Credit card rates are around 24-36% a year. The loan against PPF could be just 10%.

Want to know more about PPF? We at will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial product.

How to Transfer PPF Account?

If you have invested in PPF, chances are you might change cities for better job opportunities or lifestyle. You might have to move investments as your residence shifts. The PPF account can be moved across bank branches, post offices and transferred across India so that it’s easy to operate.

Take a look at tips to move the PPF account and also not lose interest while doing so.

See Also: How To Open PPF Account Online?

Prefer PPF account in the post office to bank

If you want to open a PPF account, you could visit a post office and then stand in a queue. But, if you open the PPF account at the public or private sector bank, the deposit can be made online through NEFT.

You just need to create an ECS mandate with the bank and debit the account on a specific date if you want to invest in the PPF account. You can open a PPF account online at HDFC Bank, Axis Bank, ICICI Bank, BOB or any other public/private sector bank. It would be wise to transfer the PPF account from a post office to a bank.

Let’s say you change your job and relocate to another city. You might have changed your residence to another city or you are not happy with the bank services. Shifting your PPF account to another bank might be a good idea.

See Also: Why Invest in a Public Provident Fund?

How to move PPF accounts?

Submit a transfer application request if you want to shift the PPF account from the post office to a bank. Make an application request at the bank/post office along with the original PPF passbook.

Mention a complete bank branch address to where you wish the PPF account to be transferred. Keep a photocopy of the PPF passbook as a record of past transactions. Collect PPF transfer receipt from the post office or the bank.

Your current bank branch or post office submit the transfer application form, an existing PPF passbook, nomination details and the cheque/demand draft with the outstanding balance to the bank which you have specified in the application form.

You would have to submit a fresh PPF account opening form at the new bank branch along with nomination details. (This is only if there is a change in nominee). Complete the KYC process by submitting a copy of PAN, address copy like voter card or electricity bills, driving license or passport copy. The PPF transfer takes about a month.

If you wish to have the PPF account at the same bank and just change the branch to a new city, the entire process would take just 7 days. Submit the application form at the current bank branch and then ask for a change in bank branch.

See Also: What To Do If You Have Two PPF Accounts?

Note: Even though you have submitted the new PPF account opening form; the transfer is considered a continuing account. You are eligible for a loan against the PPF facility. The new bank branch gives you a new passbook. Make sure it’s updated to show the right outstanding amount details.

You May Also Watch

Iframe Content

Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.

Have a complaint against any company?'s complaint portal can help you resolve the issue. Just visit and lodge your complaint. If you want to post a review on any company you can post it on review and complaint portal

Be Wise, Get Rich.

What is your Credit Score? Get FREE Credit Score in 1 Minute!

Get Start Now!
Get It now!

This is to inform that Suvision Holdings Pvt Ltd ("") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.