Any PPF account is transferable across any branch of the bank or to the head post office free of charge and, thus, you will not lose any amount on account of this transfer.
The Process of transfer will take 2-3 weeks time, You will get a call from your new branch (bank/post office) as your account is transferred, visit your new branch and collect the pass book. You need not have a bank account in the other branch (new bank branch).
Link: PPF Deposit Slip
|About PPF ( Public Provident Fund)|
Rate of Interest