Yes, PPBs can be transferred from one person to another person; however:
Transfer of Bonds is only available for individual investor(s).
The investor can only transfer PPBs from the same commercial bank irrespective of the branch.
Personal presence of both the Transferor and Transferee is mandatory
The original PPBs to be transferred must be presented along with a duly filled Application Form for the transfer of PPBs and identity document.
Transferor of bonds before the completion of six months period either from the date of issuance or date of last profit will not be paid any profit for the broken period.
Transfer of prize winning bonds from one person to another will only be allowed subequent to settlement of outstanding prize money in the regisered investor’s account.
After transfer of title, the Transferor shall relinquish all his / her claims in terms of principal, profit and prize money (if any).