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

  1. #1
    NewBie
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    Default 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.



  2. #2
    Super Moderator PolicyWala's Avatar
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    Default

    Quote Originally Posted by Manoj1987 View Post
    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.
    You can't close a PPF account before 15 Years.

    2) If yes , will I get PPF amount deposited in Post office since I am breaking/closing the account?
    See answer to question-1.

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

    Thanks in advance.
    No, Only one PPF account allowed at a time.

  3. #3
    NewBie
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    Default

    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?

  4. #4
    Moderator Rahul's Avatar
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    Default

    Quote Originally Posted by Manoj1987 View Post
    Can we deposit in any post office in india if we have PPF account number?
    You can only deposit in same post office.


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