How to transfer your PPF account to ICICI Bank
It is very easy to transfer your PPF account
Do you want to transfer your existing PPF account to ICICI Bank?
In my previous post, we discussed about OPENING PPF ACCOUNT IN ICICI. In this post, I will be discussing on transferring your existing PPF account to ICICI bank. PPF transferring rules are almost same for all banks and post offices.
There may be many reasons for PPF account transferring to ICICI bank. You would have changed the place where you don’t find the existing bank’s branch or post office, or you might have ICICI account and it gives you the online PPF account facility to transfer the fund.
The process of transferring your PPF account to ICICI Bank is very simple but there are only very few designated branches to handle PPF account in ICICI. Here is the list of ICICI PPF designated branches.
Also read: How to take loan from your PPF account
Details required for transferring your PPF account to ICICI Bank
Subscribers can transfer their existing PPF account from any authorised bank or Post office to ICICI. Remember, this PPF account will be considered as a continuing account.
The following process must be followed in transferring your PPF account
- Visit your existing bank or post office and check whether your PPF account is updated in your PPF passbook.
- Once your PPF passbook is updated, you need to submit PPF transfer request in the existing bank/post office where your PPF account is held.
- They will arrange to send the original documents to ICICI Bank branch address provided by the subscriber. Original documents such as copy of the PPF account, nomination form, specimen signature etc. along with cheque or DD of the outstanding balance in your PPF account.
- Once the transfer documents received, the ICICI branch officials will inform you about the receipt of documents.
- Finally you required to submit fresh PPF account opening form, Nomination form, along with the original existing PPF passbook. Also fresh set of KYC documents are required to be submitted by the subscriber.
- Once your PPF transferred to ICICI, link your PPF with your ICICI saving account to easily transfer your funds online and also to view your PPF Account statement online.
Also read: How to open PPF account in HDFC
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