[Chetan_Rao]

Originally Posted by fordday

My PPF account matured on 01 April and I went to the branch with the renewal form to renew for another 5 years. The counter clerk says she did the renewal in the system and stamped my form and kept it.

How do I know if it is renewed or not? There is no confirmation mail/sms from the bank on this.

Do you have a paper passbook? If so, get it updated and signed at the branch. Formats may vary, but my SBI passbook has a schedule page to note such details.

If not, download an e-statement from online banking that should capture the updated maturity date, and get that signed & stamped at the branch.

[NPV]

Originally Posted by fordday

How do I know if it is renewed or not? There is no confirmation mail/sms from the bank on this.

Very simple - transfer some money online to the PPF account and see if it gets credited back to your account.
This is from recent personal experience. My account was valid till 31 march and my NEFT transaction on 2 April was returned though the transaction itself was a success initially.

[vinit.merchant]

Originally Posted by fordday

My PPF account matured on 01 April and I went to the branch with the renewal form to renew for another 5 years. The counter clerk says she did the renewal in the system and stamped my form and kept it.

How do I know if it is renewed or not? There is no confirmation mail/sms from the bank on this.

I have one with SBI. I too did not get any confirmation when I made the application for the 5 year extension.

PS: According to them, even if I did not apply for it, it goes into auto extension for 5 years once the 15 year term is complete.

[AltoLXI]

Originally Posted by vinit.merchant

PS: According to them, even if I did not apply for it, it goes into auto extension for 5 years once the 15 year term is complete.

So what happens if someone does not want to renew after 15 years and forgot to withdraw on time? Will they revert the auto renewal and return the corpus?

[Fx14]

Originally Posted by fordday

My PPF account matured on 01 April and I went to the branch with the renewal form to renew for another 5 years. The counter clerk says she did the renewal in the system and stamped my form and kept it.

How do I know if it is renewed or not? There is no confirmation mail/sms from the bank on this.

They make a notation on the first page of the passbook - "Account extended upto _____". This helps you to remember the next maturity date.

If not done, you can ask them to do so.

[fordday]

Originally Posted by AltoLXI

So what happens if someone does not want to renew after 15 years and forgot to withdraw on time? Will they revert the auto renewal and return the corpus?

If you do not renew it will continue to earn interest as before. Only difference is you cannot deposit any money.

[thanixravindran]

Once PPF completes 15 years, you have 3 options.
1. Close PPF account and take out all the money. - Form 3 to be used
2. Extend PPF account without any additional contribution (Default option)
3. Extend PPF with contribution - Form 4 to be used
You can extend any number of times in blocks of 5 years.

In default option, the balance will continue to earn interest till one closes the PPF Account. If you miss option 3 at the end of 15 years, it is permanently lost. No more contribution possible. So please choose wisely.

[digitalnirvana]

I have a PPF account and contributed to it only once, approximately 6 years ago. It is with SBI. If I wish to restart contributions each year, how can I? An option without visiting the branch is preferred. And can I contribute towards it for 15 fresh years or will the dormant years also be included in the count?

[Fx14]

Originally Posted by digitalnirvana

I have a PPF account and contributed to it only once, approximately 6 years ago. It is with SBI. If I wish to restart contributions each year, how can I? An option without visiting the branch is preferred. And can I contribute towards it for 15 fresh years or will the dormant years also be included in the count?

Revival is possible. You would have to visit the branch for the same. A penalty is charged for the non-contribution :
"To renew or revive the PPF account, one needs to pay a penalty of Rs 50 for each non-contributory year, Rs 500 as arrears for each non-contributory year and Rs 500 for the year in which the account is being revived."

[rohan_iitr]

I have a PPF account in SBI in my home town.

I want to get it transferred to Bangalore.

What is the procedure for transferring the account to another city ? Can it be done online ?

[ValarMorghulis]

Originally Posted by rohan_iitr

I have a PPF account in SBI in my home town.

I want to get it transferred to Bangalore.

What is the procedure for transferring the account to another city ? Can it be done online ?

Yes.
1. Login to online banking.
2. Go to "e-Services">"Transfer of Account".
3. Select the account to be transferred. Enter the "Branch Code" (you can get this from your local bank. Talk to the manager).
4. Check on "I accept the Terms and Conditions".
5. Click "Submit".

Done.

PS: Generally, you should not have had any transaction that day in the said account for the transfer to be successful.

[DCEite]

I recently closed my PPF account at the head post office Ghaziabad.

I went before 5th April, and boy was it a big mistake !

There were huge lines because of the "deposit before 5th April and earn maximum interest" theory in new financial year, and very incompetent clerks who were taking on an average 40 mins per customer to do simple deposits !

To top it off, there were agents in the backend pushing the clerks to get their work done on priority, constantly interrupting them.

After waiting in the line for around 4 hours, I finally got my PPF account closed. And what a relief ! I no longer have to visit this post office, and nor would I EVER recommend anyone to open a PPF at any post office !

Even with digitization , the post offices are under-staffed, the computer literacy levels of the staff are unimpressive, and frequent technical issues (You know, "Server down syndrome"), mean even simple tasks take so much time.

[deehunk]

Originally Posted by DCEite

I recently closed my PPF account at the head post office Ghaziabad.

I went before 5th April, and boy was it a big mistake !

I no longer have to visit this post office, and nor would I EVER recommend anyone to open a PPF at any post office !

"Server down syndrome", mean even simple tasks take so much time.

How about the cheque issued by the post office as the only settlement mode? It was not accepted by private banks in my case; cheque was lying as an unclaimed object at HDFC Bank. I got it back after an intervention by the branch manager. Finally, SBI accepted the cheque and it took 17 days to get my money from the PPF account.

[DCEite]

Originally Posted by deehunk

How about the cheque issued by the post office as the only settlement mode? It was not accepted by private banks in my case; cheque was lying as an unclaimed object at HDFC Bank. I got it back after an intervention by the branch manager. Finally, SBI accepted the cheque and it took 17 days to get my money from the PPF account.

For me the post office did IMPS transfer on same day (albeit after waiting for so long) which was reflected in my bank account on the next day. I think this is the default mode of closure, not sure they still write Cheques.

[kavensri]

Message to moderators:
Can we have a dedicated thread for PPF discussions alone?

Note: I do not know, how difficult it would be to 'extract' PPF messages from this thread to move into a new PPF thread?