Maintaining a PPF account in Post Office is bit difficult and time consuming (go to deposit money one day and go again to update the passbook). With no online option. But now you can transfer your Post Office – PPF account to SBI.
Documents you Need
1- Write an Application to Transfer the PPF Account
2- Fill up the Account Transfer Form [SB(10)b]
3- Original PPF passbook
4- Photocopy of PAN
5- Photocopy SBI Passbook
6- Address Proof.
Submit all the above documents to postmaster. After receiving/verifying the documents the post office will dispatch the transfer documents to SBI. (It will take 1-2 weeks)
Check with SBI after two weeks, your PPF account will be transferred to SBI. If you have internet banking you can see the PPF account balance online. SBI will issued you a new PPF passbook.
Things to take Care
1- Get all interest entries in the PPF account updated from post office, before transferring the account to SBI.
2- Keep photocopy of you previous PPF account as SBI won’t be able to update the previous entry.
3- Always keep original documents with photocopy for verification.