I have opened my PPF account in the year 2004 at Post Office in New Delhi, subsequently I changed my job and relocated to Hyderabad. At the same time I got transferred my PF account from Post office, New Delhi to Post Office in Secunderabad. Believe me the process of transfer of PPF account from one post office to another post office is pretty fast(almost took 2 weeks).
However I was somewhat not very comfortable in carrying out activities related to PPF account with post office for example to update your passbook I need to stand in queue, when your turn comes the clerk will try to locate the register in which my PPF account entries are there(despite the fact that there is a PC on his desk). Not only that if you are paying via cheque, you need to go to Post office two times, second time to get your entries updated in your passbook(they will wait the cheque to be cleared before they put transaction in your passbook).
When I shifted my house from Begumpet to Attapur, maintaining the PPF account became a nightmare for me as my nearest Hyderguda post office didn't have PPF account facility. I started finding an alternative option for it. The only option I had to transfer the account to nearby nationalized bank. I zeroed on SBI bank.
I met to the branch manager of SBI bank and asked him the procedure for transfer of account from Post office to SBI. His first answer was Its not possible. My all dream shattered. I came back and tried to google about the possibility of such transfer. I got the information from SBI web site (try to search for PPF in SBI website) that PPF account can be transferred from Post Office to SBI and vice versa.
After 2-3 months I took the printout and again approached to Branch manager, this time he said I need to request for transfer at Post office where my account is. In my passbook also its mentioned that the above transfer is possible( i never read the detailed information in my passbook in past).
Then I approached to my post office and enquired with the clerk about the process. He again said its not possible. I immediately showed him the its written in the passbook. Then I was asked to talk to postmaster. Postmaster asked me to write a plain application , fill up the account transfer form SB(10)B and submit it with original PPF passbook. I also submitted photocopy of PAN, SBI passbook and address proof.
After one week I checked with Head post office and they informed me that its in process and by next Monday they will dispatch the transfer documents to SBI and may be after one week I can collect the passbook from SBI. Let me see what happens next.....
25-Jan-2012: Finally my PPF account got opened with SBI and I can see the PPF account balance online. I also collected a new PPF passbook issued by SBI.
Overall I am very happy with this transfer as I can deposit money and can see the balance online.
Thanks to all the people of Post Office and SBI which helped me during this transfer process.
