What is PPF? How to withdraw money from the account

 

What is PPF? How to withdraw money from the account

PPF withdrawal and closure rules

You can withdraw money after 5 years of account opening subject to certain conditions. If your PPF account has become inactive, it can be reactivated. Anyone can invest in PPF.

You can close the PPF account before the maturity date. The PPF account is allowed to be closed before the maturity date or time after five years from the end of that year. 

Premature closure will be allowed only if the investor needs money for treatment of ailments after producing proper documents proving the medical condition.

What is PPF? How to withdraw money from the account, first know these rules

The investment in this fund should not exceed Rs 1.5 lakh in a year in the name of any individual. NRIs HUFs cannot open PPF accounts. This account can also be opened in the name of a minor.

New Delhi, Business Desk. Public Provident Fund (PPF), a government-approved investment scheme, is considered better with retirement in mind. It has an initial lock-in period of 15 years and can yield higher returns with compounding. However, investors can close or withdraw it prematurely. Its interest rate is fixed by the government every quarter. Along with the post office, nowadays PPF account can also be opened in a bank. An individual can invest up to Rs 1.5 lakh per year in a PPF account.

PPF withdrawal and closure rules

You can withdraw money after 5 years of account opening subject to certain conditions. If your PPF account has become inactive, it can be reactivated. Anyone can invest in PPF.

You can close the PPF account before the maturity date. The PPF account is allowed to be closed before the maturity date or time after five years from the end of that year. Premature closure will be allowed only if the investor needs money for treatment of ailments after producing proper documents proving the medical condition.

Out of order message is coming on matching the number from mobile, landline. (@epfo)

EPFO subscribers will not be able to know their PF balance, know what is the reason

Withdrawals can usually be made after the maturity period of 15 years from the date of account opening. However, partial withdrawals can be made at the end of 6th year from the date of account opening.

In other cases, premature closure is allowed if the investor or account holder requires funds for higher education in a recognized institution in India or abroad. PPF comes under exempt-exempt-exempt (EEE) tax benefit category.

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