PPF transfer: How to move your Public Provident Fund account — a step-by-step guide

The government-backed Public Provident Fund (PPF) is well-liked for its guaranteed returns, making it a preferred choice among conservative investors. You can easily open a PPF account at designated banks or post offices. But if you change jobs, move to a different location, or switch banks, can you transfer your PPF account without losing its benefits?

It is possible to transfer a PPF account between different bank branches, from one bank to another, or from a Post Office to a bank, and vice versa.

How to transfer a PPF account?

Step 1: Visit your current bank or post office branch, along with your PPF passbook.

Step 2: You need to submit a transfer request application.

Step 3: On the PPF account transfer application form, include the complete address of the post office or bank branch where you wish to transfer your PPF account.

Step 4: The current branch will initiate the process once it receives your PPF account transfer application. Please ensure you obtain a receipt for the transfer request. The bank will also submit documents such as the application form for creating an account, nomination form, certified copy of the account, current PPF passbook, demand draft or cheque for the unpaid balance and signature.

Step 5: You will most likely receive a notification once the new bank or post office branch has received your documents.

Step 6: You must finish the KYC process and provide a copy of your PAN as well as personal identity and address documentation.

Step 7: If there is a change in KYC, the new bank might request the account holder to complete a new account opening form. Subsequently, the new bank will open a PPF account and transfer the existing balance into it.

Please note that PPF accounts cannot be transferred from one individual to another. The nominee cannot continue the account of a deceased subscriber in their own name. However, the nominee is free to open a new account in their own name if they wish, even if they have already applied for payment from the deceased subscriber's account.

How much interest rate does PPF offer?

The interest rate on a PPF savings account for the October to December quarter is 7.1%. As per a notification by the Department of Economic Affairs, the interest rates for multiple small savings schemes, including PPF, remain unchanged for the third quarter of the fiscal year 2025-26..

Disclaimer: This is an educational article and should not be considered an investment strategy. We advise investors to check with certified experts before making any investment decisions.