Want To Transfer Your PPF Account? Here's How
Here are few simple steps through which you will be able to transfer your PPF account. The procedures are almost same for all.
Application: The investor has to make an application to the bank or the post office for transferring the PPF account. The application needs to be attached along with a transform SB10.
The application needs to be carefully filled in with all the details like name and address of the bank branch or post office branch. Also the location where the PPF account is to be transferred and other details related with the investors PPF account needs to be mentioned.
Procedure: After the signature of the account holder is verified, the account is closed from that respective bank or post office. A demand draft or cheque is drawn for the balance amount in the PPF account and is sent to the new branch of post office or bank in the new location. Along with the cheque the existing bank or post office will also provide a certified copy of the account statement, original account opening form, and nomination form and specimen signature.
All these procedures will hardly take three to four weeks and the investor will not be charged any extra money to transfer his or her Public Provident Fund account.
