<P> Step 2--The existing bank will then forward the certified copy of the account, the account opening application, nomination form, and specimen signature . It will also forward the cheque / dd for the outstanding amount in the PPF account to the new bank at the branch specified by the customer . </P> <P> Step 3--Once your bank receives these documents, the bank will inform you and ask you to submit a new PPF account opening form along with the old PPF passbook . You can also provide nominations for this new account . You will also be required to submit the KYC documents . </P> <P> Step 4--If you hold an internet banking facility with your bank, after a few weeks, check that the transferred PPF account now shows up under the PPF account tab / link in your login . If that is not the case, inquire the local bank branch . </P> <P> Annual contributions qualify for tax deduction under Section 80C of income tax . The tax benefit is capped at Rs 1.5 lacs per financial year . Contributions to PPF accounts of the spouse and children are also eligible for tax deduction . </P>

Ppf rate of interest for last 10 years