Transfer PPF from one Bank to another bank

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Deal Subedar
akki.akki

Hello All,

The story is : I am having PPF account in SBI (before netbanking era) and with help of IT branch manager it was visible in my savings account’s netbanking also.
Now suddenly it has disappeared from netbanking. When I visited branch they told that due to CIF merger problem its not visible.

Now I am little worried and do not wish continue my PPF with SBI.


So can someone please suggest :- 

  1. If it is good to transfer PPF from one bank to another ?
  2. What is the process to transfer ?
  3. Which bank should I transfer to ?
  4. Is there any loss of interest amoubt for the fiscal year in which it is transferred ?
  5. Will it impact my PPF age also ?


pray

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Like Magnet Like Magnet
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Mere BOB World app PPF fund transfer ke time 2 PPF ac dikhate h..Bank Branch guys not helping out.What to do?

Deal Subedar Deal Subedar
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Paris_AI wrote:

Mere BOB World app PPF fund transfer ke time 2 PPF ac dikhate h..Bank Branch guys not helping out.What to do?

PPF to ek hi hota hai vese.

Deal Cadet Deal Cadet
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1. It’s neither good nor bad. If you shift it to a bank with a higher digital adoption in processes,  you may be able to keep track of your PPF, pay subscription online etc.etc. Check which bank has such facilities.

2. Different banks have different processes. Pick the one which suits you best, based on factors such as branch location, ease of digital PPF banking etc.

3. Same as above. Check which banks have branches close to you in case a visit becomes necessary. Choose a bank with good online presence. Amongst private banks, ICICI is good, among public ones, BoB and Canara are OK. You can even transfer to a post office if convenient.

4. No

5. No

Deal Subedar Deal Subedar
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Take a passbook for SBI PPF and keep getting it updated periodically like your bank account passbook.

This is how I manage my parents’ PPF account info.

Deal Captain Deal Captain
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Thank god u haven’t opened with post office laughing.
No need to worry, u are safe with sbi ..chill

Deal Subedar Deal Subedar
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santosh_blr wrote:

Take a passbook for SBI PPF and keep getting it updated periodically like your bank account passbook.

This is how I manage my parents’ PPF account info.

yes, I have the soft copy of passbook.

Deal Subedar Deal Subedar
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kartikxxx wrote:

Thank god u haven’t opened with post office laughing.
No need to worry, u are safe with sbi ..chill

I know its safe, but I have the habbit of managing things digitally rolleyes

Deal Captain Deal Captain
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akki.akki wrote:

I know its safe, but I have the habbit of managing things digitally rolleyes

U can do that…sbi has netbanking no..so what’s the problem (except temporarily that u are having ryt now)

Critic Critic
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You can pay online from any bank using NEFT. You can update passbook from any SBI branch. 

Shopping Friend Shopping Friend
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Hdfc has a good digital PPF setup

Deal Cadet Deal Cadet
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kartikxxx wrote:

U can do that…sbi has netbanking no..so what’s the problem (except temporarily that u are having ryt now)

That problem could become permanent.

replyuser
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