Moving PPF, Sukanya Samriddhi, SCSS accounts to banks without closing

The government of India offers special savings accounts that are very safe and pay a fixed interest rate.

Three of these accounts are the Public Provident Fund, the Sukanya Samriddhi Account, and the Senior Citizens Savings Scheme.

Many people open these accounts at the post office.

But some people would rather manage their money through a bank.

The good news is that you can move your account from the post office to a bank without closing it.

To do this, you fill out a special form and hand in your passbook at the post office.

The post office charges a small fee of ₹100 plus GST for the transfer.

The post office and the bank work together to finish the move.

You can also check with your new bank first to make sure you have all the documents they need.

And if you like the post office, you can manage your account using digital services instead of moving it.