Want to close PPF account of Post office and open new PPF account in SBI.

Hello All,

I would like to know
1) Whether can I close PPF account of Post Office and open new PPF account in SBI since Post office doesn't support online transfer?
I have read that we can transfer the account from post office to sbi but it seems to be too hectic since having only 500/1000 Rs in post-office.
2) If yes , will I get PPF amount deposited in Post office since I am breaking/closing the account?
2) Also, Can I have both Post office and SBI PPF account active at same time?

Thanks in advance.

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Originally Posted by Manoj1987

Hello All,

I would like to know
1) Whether can I close PPF account of Post Office and open new PPF account in SBI since Post office doesn't support online transfer?
I have read that we can transfer the account from post office to sbi but it seems to be too hectic since having only 500/1000 Rs in post-office.

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You can't close a PPF account before 15 Years.

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2) If yes , will I get PPF amount deposited in Post office since I am breaking/closing the account?

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See answer to question-1.

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2) Also, Can I have both Post office and SBI PPF account active at same time?

Thanks in advance.

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No, Only one PPF account allowed at a time.

Thanks a lot. It means either I have to transfer my account from Post office to SBI or every month visit post office and wait in long queue.
One quick question coming in mind:
1)Can we deposit in any post office in india if we have PPF account number?

Quote:

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Originally Posted by Manoj1987

Can we deposit in any post office in india if we have PPF account number?

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You can only deposit in same post office.