PPF Account Transfer – Conflict between PO & SBI regarding Interest !!

POSTED BY Priyanka ON August 13, 2013 5:04 pm ONE COMMENT

Hi Manish, I had applied for the PPF account transfer from Post office Bangalore to SBI Dharwad, in the month of July and the money was received by Bank on end of July. Bank then asked Post office for interests for months April’13-July’13 & post office has denied it.

1. Who is suppose to pay the interest for months April’13-July’13? 2. Bank has not yet created my PPF account, says they want ID & add proof. Also interest will be calculated from the date the account will be opened. So basically I am loosing August’s interest too. How to go about this?

One reply on this article “PPF Account Transfer – Conflict between PO & SBI regarding Interest !!”

  1. BanyanFA says:

    Priyanka,
    First of all get your PPF account activated at the Bank by supplying the proofs.

    Rather than banging against PO, better raise a RTI and ask them about similar question as to why the interest has been denied.
    Then similarly raise a complaint and if that doesn’t get resolved a RTI with SBI to get your situation resolved.

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