Irrespective of the platform you have your Small Saving Schemes investment, you can switch between bank to post office and vice versa. People sign up with these schemes for multiple features like risk-free interest, tax exemptions, and more advantages. Since it is possible to open a Small Saving Schemes account in banks and post offices both, we need to learn how to transfer Sukanya Samriddhi and PPF accounts from the bank to the post office or vice versa.
There is a simple process behind transferring an account from your bank to the post office and we shall discuss the same in this article.
Senior Citizen Savings Scheme Account
The simplest transfer process of all between banks to post office or vice versa is for a Senior Citizen Savings Scheme account. You need to visit the bank or post office, wherever you have your account and fill out the transfer form with your correct complete details. Along with the mentioned completely filled out form, you also need to submit a xerox copy of your passbook with a fee of Rs. 100 and the GST charges on the same.
Public Provident Fund (PPF) Account
You can also transfer your Public Provident Fund (PPF) Account from the bank to the post office or vice versa as easily as the Senior Citizen Savings Scheme account. The process is similar to the Senior Citizen Savings Scheme account as you are required to fill out a form at the branch you have your account with using your correct personal details. You will have to pay a fee of Rs. 100 and GST charges to avail of this service.
Sukanya Samriddhi Account
If you have a Sukanya Samriddhi Account, then also you can transfer it from your bank to the post office or vice versa. It again requires you to fill out a transfer form at your branch with the correct personal details, a xerox of your passbook, your address and every other required document. The process again requires you to submit a fee of Rs 100 along with GST charges.
Conclusion
In this article, we learnt how to transfer Sukanya Samriddhi and PPF accounts from the bank to the post office. It is easily possible to transfer your account between the bank and post office or vice versa with the help of a simple process explained in this article.
Also Read:
5 Major Rules About Sukanya Samriddhi Yojana For Contributions, Interest Earned
