PPF Account - Online

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Can we move our PPF account from one bank where we opened it to another bank; my current bank doesn’t allow me to credit to PPF account online and also I have to visit branch for everything, they do not have good staff as well. Is there a possibility to do this?
If yes , someone experienced please share the steps.
Also which bank has the option to credit to PPF account online over net banking?

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Yes the current bank will give a cheque in favor of another bank to be credited in your name.

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billubakra wrote:

Yes the current bank will give a cheque in favor of another bank to be credited in your name.

You mean I’ll get a new account?

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billubakra wrote:

Yes the current bank will give a cheque in favor of another bank to be credited in your name.

How about the period the account with the old bank, will it be also carried forward when it comes to maturity date?

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andromeda wrote:

How about the period the account with the old bank, will it be also carried forward when it comes to maturity date?

@Ronaldo1452
Just go to your old bank and give them written application to XYZ Bank due to personal reasons along with original passbook. Don’t forget to keep a copy of passbook (new bank will ask for it & also keep a copy for your records). Bank will take approx 2 weeks to process and give you DD of the closing amount. Go to new bank and ask for PPF Transfer form, fill the form and attach DD, KYC documents, copy of passbook of PPF account. New bank will take another 2 weeks to transfer the account. Block will be considered from original PPF account opening date.

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GoogleCA wrote:

@Ronaldo1452
Just go to your old bank and give them written application to XYZ Bank due to personal reasons along with original passbook. Don’t forget to keep a copy of passbook (new bank will ask for it & also keep a copy for your records). Bank will take approx 2 weeks to process and give you DD of the closing amount. Go to new bank and ask for PPF Transfer form, fill the form and attach DD, KYC documents, copy of passbook of PPF account. New bank will take another 2 weeks to transfer the account. Block will be considered from original PPF account opening date.

+kg.

Good to know, I wanted to know the possibility/process of doing it than actually doing it. I believe the process will be much simpler if I need to transfer the account across cities with in the same bank (SBI)

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andromeda wrote:

+kg.

Good to know, I wanted to know the possibility/process of doing it than actually doing it. I believe the process will be much simpler if I need to transfer the account across cities with in the same bank (SBI)

Why do you need to transfer if the account is with same bank. SBI has CBS so i guess you can redeem at any branch. Also you can fund PPF Account online in SBI if you have SBI account.

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GoogleCA wrote:

Why do you need to transfer if the account is with same bank. SBI has CBS so i guess you can redeem at any branch. Also you can fund PPF Account online in SBI if you have SBI account.

I shifted to a different city about 6 years back while the account is in different city. Although there are no issues funding it online, wanted to have all accounts(savings) in one place.

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I have my PPF account in SBI. For past few years, I have been crediting the account online from my ICICI account using standard NEFT. I an sure you bank also offers the same facility.
ICICI and possibly Axis Bank provides the option to open and manage PPF online from their netbanking login. In case of SBI account opening is physical but can be linked to existing netbanking ID.
PPF Acct can be shifted from one bank to another, from Post Office to Bank and from Bank to Post Office, including between different cities. This is an old article but process remains the same
https://economictimes.indiatimes.com/wealth/per...

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GoogleCA wrote:

@Ronaldo1452
Just go to your old bank and give them written application to XYZ Bank due to personal reasons along with original passbook. Don’t forget to keep a copy of passbook (new bank will ask for it & also keep a copy for your records). Bank will take approx 2 weeks to process and give you DD of the closing amount. Go to new bank and ask for PPF Transfer form, fill the form and attach DD, KYC documents, copy of passbook of PPF account. New bank will take another 2 weeks to transfer the account. Block will be considered from original PPF account opening date.

Thanks a lot @GoogleCA

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GoogleCA wrote:

@Ronaldo1452
Just go to your old bank and give them written application to XYZ Bank due to personal reasons along with original passbook. Don’t forget to keep a copy of passbook (new bank will ask for it & also keep a copy for your records). Bank will take approx 2 weeks to process and give you DD of the closing amount. Go to new bank and ask for PPF Transfer form, fill the form and attach DD, KYC documents, copy of passbook of PPF account. New bank will take another 2 weeks to transfer the account. Block will be considered from original PPF account opening date.

That two week period thing, one should ask for the interest for that period from the new bank also.
@andromeda @Ronaldo1452

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Bob allows direct transfer of funds through mobile app.

Option is available on mconnect mobile banking app.

Never used personally.

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GoogleCA wrote:

If you ask then good luck opening PPF account with them.

My cousin shifted 2 months back and got interest accrued that way. Unhone kaunsa apni jeb se dena.

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panchabhut wrote:

I have my PPF account in SBI. For past few years, I have been crediting the account online from my ICICI account using standard NEFT. I an sure you bank also offers the same facility.
ICICI and possibly Axis Bank provides the option to open and manage PPF online from their netbanking login. In case of SBI account opening is physical but can be linked to existing netbanking ID.
PPF Acct can be shifted from one bank to another, from Post Office to Bank and from Bank to Post Office, including between different cities. This is an old article but process remains the same
https://economictimes.indiatimes.com/wealth/per...

i have been doing NEFT to my sbi ppf for the last 3 years from HDFC as well …is there any way to check ppf balance online in sbi or via sms short code if i do not have sbi savings a/c or do i have to get the passbook updated from the branch every time wink @GoogleCA

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waterloo wrote:

i have been doing NEFT to my sbi ppf for the last 3 years from HDFC as well …is there any way to check ppf balance online in sbi or via sms short code if i do not have sbi savings a/c or do i have to get the passbook updated from the branch every time wink @GoogleCA

Only passbook update is the option. I shifted my PPF account from SBI to HDFC.

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akki.akki wrote:

in how much time ??

Took around 1.5 months in total but 2 weeks were wasted because i didn’t keep copy of passbook of ppf account after closing. HDFC asked for it and SBI took 2 weeks to make that available. My SBI Branch is very very good though. Better than pvt banks like HDFC, ICICI, Axis, Yesbank, Kotak, Indusind in personal experience.

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