How to transfer your PPF account without losing benefits

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Public Provident Fund (PPF) is Indians' most preferred mode of saving because it offers guaranteed return and is exempted from taxation. But say you move to some other city, change jobs or banks? You do not have to close your PPF account. You can instead transfer it smoothly to some other post office or bank without touching your savings.

Beginning the process

To start with, you will be required to go to your current bank or post office with your PPF passbook. There you will be required to submit an application for the transfer request. In the form, you should mention the details of the new centre—the new bank or new post office or the new branch of the same bank. Always insist on the receipt of the transfer request which serves as proof.

What happens behind the scenes

After you submit your request, your existing branch will process the forms and send them to the new branch. The forms commonly contain the account transfer application, nomination form, certified account copy, your passbook, and cheque or draft for the balance. You shall be notified once the new branch receives them.

Re-doing the KYC

You will be subjected to a fresh KYC process in the new branch. This requires you to submit your PAN card, proof of identity, and residence proof. In some cases, the new bank also requires you to fill out a fresh account opening form before crediting the old balance into your new account.

Rules you must learn

It must be remembered that the PPF accounts cannot be transferred in one's name to anyone else's. The account cannot be transferred forward by the nominee in the event the account holder passes away. The nominee can withdraw the money or initiate new PPF account in his/her name.

Current interest rate

For the October-December 2025 period, the rate of interest on PPF is 7.1%, the Department of Economic Affairs informs. The rate is updated every quarterly period but remains the same for the time being, making PPF a risk-free and safe option among conservative investors.

The bottom line

Moving your PPF account should be smooth-sailing. If you follow the steps, complete your KYC, and ensure you look after your papers, your savings move with you without giving up any of the strengths that account for the popularity of PPF.