Can we merge 2 PPF accounts?

The PPF accounts in the same operating agency could easily be amalgamated at the level of operating agency by adopting the procedure of transfer of the PPF account. The amalgamation of PPF accounts in different operating agency requires interaction between both the operating agencies.

How many times PPF account can be transferred?

PPF Account Transfer Only one PPF account can be held per adult individual, except in the case where a parent or guardian is creating and maintaining an account on behalf of a minor. The PPF Account itself, however, can be transferred from a bank to the post office, and vice versa.

Can I close my first PPF account?

The facility to prematurely the PPF account is available after completing of full five financial years means during 7th year of its opening or afterwards. So you can close the account to fund the education of your daughter who is dependent on you.

Can PPF account be closed online?

Remember, the PPF account cannot be closed before maturity unless in case of specified circumstances. If you wish to close the account, visit the bank branch /post office where the PPF account is held. A written application to withdraw the proceeds and close the account needs to be given with the original passbook.

How can I transfer my PPF account from one bank to another online?

If you want to transfer your PPF account from a post office to a bank or from one bank to the other, along with your current PPF passbook, you need to submit a transfer application form at your current post office/bank branch.

Can I transfer my PPF account?

The PPF account can be transferred from a bank to the post office, and vice versa. The account can also be transferred between branches of the same bank. All these documents are accompanied by a cheque or demand draft (DD) of the outstanding balance in the PPF account at the time of transfer.

Can you break PPF?

PPF Withdrawal on Maturity On maturity, you can withdraw the entire corpus. For this, you will have to submit a duly filled Form C at the bank branch or post office where you have your PPF account. The PPF will be terminated thereafter and the corpus will be credited to your bank account.

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