Tuesday , 25 April 2017
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How to transfer PPF account from one post office to another?

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If you have PPF account in one post office and want to transfer it to another post office, then this post will be useful for you. Many people relocate to different cities because of new jobs, transfer etc.  They may have PPF account in post office in other cities and it is difficult for them to maintain those PPF Account. 

So the best option is to get your PPF account transferred to your current city to your nearest post office. The process of PPF transfer is simple as below:

1) Fill in Form SB 10(b) – You need to fill an application for the transfer of PPF account from one post office to another post office. 

Download pdf form SB 10(b) for PPF transfer –  sb010b-ppf-trasnfer-form

2) The application should be submitted to the old post office  with details of account number, balance in the passbook and name of the new post office. The application must be signed by the account holder and should also provide three specimen signatures.   The original PPF passbook must be attached with the form to complete the application.  Keep a xerox copy of the passbook for your records.

3) Submission at old post office
Once the form is submitted to the old post office, the postmaster will countersign the specimen signature, verify the passbook balances and sign the form confirming that the application is in order, and return the original passbook to the account holder. The account will then be closed and an application with a demand draft for the account balance sent to the new post office.

4) New post office
After this, the account holder must visit the new post office. Once the new post office receives the documents, an account will be opened and a new passbook will be issued.

Please post your experience and comments regarding PPF transfer.

 

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

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About wealth18

The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

2 comments

  1. A very informative article that will help people to transfer their PPF account to a new post office easily. However, it will be great if it could be done online, as many people don’t wish to go through the hassle of visiting branches. Hope it will be possible soon. Thank you for sharing about all of these steps in detail.

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