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Hi,

I already have a PPF a/c with one of the nationalised bank for past 6 Years. I would like to know whether can I open another PPF a/c with Post Office, or else I will have to close my PPF A/c with my Bank and then open an account in Post Office.

If it is possible to open 2 A/c one in Bank and other in Post Office, then is it possible to transfer the amount accumulated in Bank PPF A/c to Post Office PPF A/c.

If it is not possible to open 2 A/c's, then I have closed the A/c with bank and open a new A/c with Post Office, in that case is it possible to deposit the accumulated funds from Bank PPF A/c to the Post Office PPF A/c in the first year of Post Office.

Also would like to know whether can I close the PPF account with Bank before completing its time span of 15 years.

Yours immediate response would be appreciated.

Thanks & Regards,

Devang Dalal
asked in PPF by (120 points)

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1 Answer

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You can not open 2nd PPF account in any way. That is illegal. However, you can transfer your existing PPF account from bank to post office or post office to bank.

You can not close your PPF account before 15 years.

Admin
answered by (48.8k points)

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