Is it better to move PPF from post office to bank?

[Varuns]

I am having a PPF account in Post Office but as we know how slow the post office works. They do not have any service for online money deposit, only onlin option is to get a Post Office Bank account and their app and services sucks too.

So is a better option to move PPF to some bank ?
If yes, any idea which bank provides better services for PPF SBI, HDFC, ICICI, etc.

Also does anyone know if
- it maintains my old PPF history as that account is already mature do no need 15 years of lock-in anymore.
- another will it be a good idea to move to a bank or I should hold it in Post Office itself as segregation will give me 5lac of insurance for each account.

 

[abhimarda]

I think it would be a good idea to move it to bank. Just see which bank, preferably private bank is in your vicinity, ICICI, IDBI, HDFC as per your choice. You can consider SBI if the branch nearby provides good service. In all of these you would be able to transact online. There are other banks as well which offer this

 

[ShavirB]

I am having a PPF account in Post Office but as we know how slow the post office works. They do not have any service for online money deposit, only onlin option is to get a Post Office Bank account and their app and services sucks too.

So is a better option to move PPF to some bank ?
If yes, any idea which bank provides better services for PPF SBI, HDFC, ICICI, etc.

Also does anyone know if
- it maintains my old PPF history as that account is already mature do no need 15 years of lock-in anymore.
- another will it be a good idea to move to a bank or I should hold it in Post Office itself as segregation will give me 5lac of insurance for each account.

Have been using ICICI for my PPF account and pretty satisfied by it

 

[Varuns]

Have been using ICICI for my PPF account and pretty satisfied by it

did you transfer or it was your 1st ever PPF account directly with ICICI

 

[zacobite]

did you transfer or it was your 1st ever PPF account directly with ICICI

you cannot transfer.. you can have only 1..u will have to. cloze old one and open new

 

[Varuns]

you cannot transfer.. you can have only 1..u will have to. cloze old one and open new

Will the lock-in start again for 15 years or it will continue where I left in old account?

 

[zacobite]

Will the lock-in start again for 15 years or it will continue where I left in old account?

new account.. new lockin

 

[ShavirB]

did you transfer or it was your 1st ever PPF account directly with ICICI

1st ever PPF account

 

[abhimarda]

you cannot transfer.. you can have only 1..u will have to. cloze old one and open new

You can transfer your account from post office to bank or from one bank to another bank. There is no second account. PPF account is portable though your account number at new bank can change. If you close your account and open new one then the 15 year period starts again. Don't close!