The Public Provident Fund (PPF) is a popular government-backed savings scheme offering guaranteed returns, making it a top choice for conservative investors. While opening a PPF account at a bank or post office is straightforward, questions arise when changing jobs, relocating, or switching banks. Fortunately, transferring your PPF account is possible without losing accumulated benefits.
How to Transfer Your PPF Account
Transferring a PPF account can be done between bank branches, from one bank to another, or between a post office and a bank. Here’s a step-by-step process:
Step 1: Visit your current PPF branch (bank or post office) with your PPF passbook.
Step 2: Submit a PPF account transfer request application.
Step 3: On the form, mention the complete address of the branch where you want to transfer your account.
Step 4: The current branch will start the transfer process after receiving your application. Keep a receipt for your records. The bank will also submit supporting documents such as the application form for a new account, nomination form, certified copy of the PPF account, existing passbook, and a cheque or demand draft for the unpaid balance.
Step 5: Once the new branch receives the documents, you’ll likely get a notification from them.
Step 6: Complete the KYC process, providing PAN and other identification/address documents.
Step 7: If KYC details change, the new branch may ask you to fill out a new account opening form. The existing balance will then be transferred to your new PPF account.
Important Notes:
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PPF accounts cannot be transferred to another individual.
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A nominee cannot continue the deceased subscriber’s account in their own name but can open a new PPF account after claiming payment.
Current PPF Interest Rate
For the October-December 2025 quarter, the PPF interest rate remains at 7.1%, as per the Department of Economic Affairs. Other small savings schemes maintain their rates for Q3 of FY26.
Transferring your PPF account is simple if you follow these steps and ensures your long-term savings continue uninterrupted.