i have a ppf account in sbi in one city in AP. i want to transfer it to another sbi branch in TaMILNADU. When?

Question

I approached the branch in AP for transfer, they told me that they will close the account there and i have to reopen it in tamilnadu branch. Please enlighten me about it further.

Answer 1

You can transfer PPF from one Bank to account, and they can't say that you have to close this PPF account.



I don't think premature closing is allowed in PPF.



If your PPF account have completed 15 years, then the new account which you open will have lock in period of 15 years.



First check in Tamil Nadu SBI branch if PPF account option is available in that branch, if yes, then write a letter to your SBI Branch in AP requesting for transfer



How to transfer PPF account from one branch to the other of ( bank or post office)?

http://mutual-funds-personalfin.blogspot.in/2011/06/how-to-transfer-ppf-account-from-one.html



Format:

To,

The Bank Manager/Post Master (General)

………………………………………

………………………………………



Subject: Request for transfer of PPF A/c No…………………………………….





Dear Sir,



I am holding the above mentioned PPF Account in your Bank/Post office. I hereby approach you with the following request(s):



1. I have shifted my residence. My new residential address is as under:



Address

……………………………………………………………….

………………………………………………………………….

………………………………………………………………….



I request you to kindly make necessary change in the records.



2. Kindly transfer the balance in my above mentioned account with your bank to (name of the bank) at (name of the branch). The address of branch is as under:

Address

……………………………………………………………….

………………………………………………………………….

………………………………………………………………….



The original Bank/Post office PPF Pass Book for the entries made from …………(date)

to ……………………..(date) is enclosed herewith.





Thanking you,





Yours faithfully,







(………………………….)



Enclosure: Original Pass Book

Answer 2

Hi

I m also facing the same type of problem. even for transfer my PPF account I applied from the same branch(TN) where i want to transfer my account.

I called the bank presently(AP) where my account exist they replied the same as you.

Answer 3

Date: ______

Name

Address:________

_________________________





To

The Manager

United Bank of India

Old Court House Street

Kolkata - 700001





Subject: Request for transfer of PPF Account to State Bank of India, Bangur Avenue Branch

Ref: PPF A/c No._____





Dear Sir/Madam,





I am holding the above mentioned PPF Account in your Bank.

Now I am requesting to transfer the said account to State Bank of India at _________ Branch (Branch code: _______) which is nearer to my home and address of branch is as under:



State Bank of India

_________________

Kolkata

Branch code:



The original updated PPF Pass Book is enclosed herewith.



Submitted for your necessary action please.





Thanking you,



Yours truly,







(Prabhu Narayan Kejriwal)





Enclosed: Original PPF Pass Book

Answer 4

No they cannot say that, it is transferable,approach PPF office and take their help,do not close your account.

Answer 5

What they have said is right..!! beter open a new account..!!

Answer 6

cool

Answer 7

why transfer at all?