Many people do not know that they can transfer PPF account from their bank of post office to another. But it is true that anybody can transfer PPF account from post office or bank to another. Suppose you have shifted to new location and you opened your PPF account near your old address. So why you will continue your PPF account in same post office or bank, it is better to transfer ppf account to post office or bank near your new address. But you should check whether that post office or bank have such facility to open PPF account as all banks or all branches do not have PPF account opening facility.
How will you apply to transfer PPF account?
You have to visit the post office or bank where you have PPF account and submit a written application with clearly mentioning your reason for account transferring. You also have to fill a account transfer form given by your bank or post office staff. Now you submit your application, account transfer form and an identity proof to the staff.
After receiving all documents and forms, bank or post office staffs will process your application and after processing your application they will send your documents and a demand draft or cheque to that branch of the bank or post office where you want to transfer your account.
Now you will get intimated by bank and you have to visit your new branch and complete your KYC (Know Your Customer) formalities and submit a form along with your identity proof.
Now you have done and you will receive your new document and passbook within few days.
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