{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/savings-account\/how-to-withdraw-money-from-ppf-account-ppf-withdrawal-rules-and-procedure\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/savings-account\/how-to-withdraw-money-from-ppf-account-ppf-withdrawal-rules-and-procedure\/","headline":"How to Withdraw Money from PPF Account: PPF Withdrawal Rules and Procedure","name":"How to Withdraw Money from PPF Account: PPF Withdrawal Rules and Procedure","description":"PPF, or Public Provident Fund, is a popular savings scheme backed by the government of India. Many people prefer it for its guaranteed returns and tax benefits.\u202f  PPF has a maturity period of 15 years. Once your PPF account matures, you can withdraw the entire amount. However, partial withdrawals are allowed once it completes 6...","datePublished":"2024-09-09","dateModified":"2024-09-09","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/vinayak\/#Person","name":"Vinayak","url":"https:\/\/www.indusind.com\/iblogs\/author\/vinayak\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/83880c90630f0d98ec7d461acb74bdf6?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/83880c90630f0d98ec7d461acb74bdf6?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/How-to-Withdraw-Money-From-PPF-Account-PPF-Withdrawal-Rules-And-Procedure.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/How-to-Withdraw-Money-From-PPF-Account-PPF-Withdrawal-Rules-And-Procedure.jpg","height":174,"width":460},"url":"https:\/\/www.indusind.com\/iblogs\/savings-account\/how-to-withdraw-money-from-ppf-account-ppf-withdrawal-rules-and-procedure\/","about":["Savings Account"],"wordCount":1327,"keywords":["savings","Savings account"],"articleBody":"PPF, or Public Provident Fund, is a popular savings scheme backed by the government of India. Many people prefer it for its guaranteed returns and tax benefits.\u202f PPF has a maturity period of 15 years. Once your PPF account matures, you can withdraw the entire amount. However, partial withdrawals are allowed once it completes 6 years.\u202f To know about PPF withdrawal rules, how to withdraw from your account, and other considerations, read on.\u202f Withdrawing from PPF after Maturity – Rules and Procedure If you want to withdraw once the PPF maturity period is complete, here are some things you should know: Time validity for withdrawal: After 15 years of account opening.\u202f Valid reason for withdrawal: You can withdraw for any reason.\u202f Amount available for withdrawal: 100%. Here\u2019s the procedure for complete PPF withdrawal after maturity: 1. Visit the bank branch where you have opened the PPF account.\u202f 2. Obtain Form C and fill it up with the required details.\u202f 3. Submit the form along with the PPF passbook at the bank branch.\u202f You can raise a request for PPF withdrawal online. However, it may not be possible to carry out the entire process online.\u202f Once you apply for a complete withdrawal, the corpus is transferred to your bank account and your PPF account is closed.\u202f Also Read: 5 Best Savings Investment Plans for Salaried Individuals Withdrawing from PPF Partially before Maturity – Rules and Procedure Listed below are the PPF withdrawal rules that apply before maturity:\u202f Time validity for withdrawal: 7th financial year onwards.\u202f Valid reason for withdrawal: Any reason is valid.\u202f Amount available for withdrawal: 50% of the entire corpus. The procedure for PPF partial withdrawal is the same as for the complete withdrawal. The only difference is that you must mention how you want the withdrawal amount to be credited.\u202f You can have it credited to your savings account or request a demand draft. Ensure to clarify this on the form, add a revenue stamp, and sign it.\u202f If you are wondering, \u2018Can my PPF account be closed before maturity?\u2019, the answer is yes. However, you must have solid grounds for the closure. Read on for more.\u202f Premature Closure of PPF\u202f\u2013 Rules Here are some points you need to keep in mind if you want a premature closure of your PPF account.\u202f Time validity for closure: 5 financial years after account opening.\u202f Valid reasons for closure:\u202f Life-threatening medical issue faced by the account holder, their parents, their spouse, or dependent children. The account holder or their children need funds for higher education. The account holder has changed their resident status (they have become an NRI).\u202f Amount available for withdrawal: 100%.\u202f If you close your PPF account before maturity, the overall interest rate is reduced by 1%. Assuming you have had your PPF account for 7 years and the interest rate for the account has been 7%.\u202fIf you decide on premature account closure, the interest will be recalculated at 6% for all the years you have had your PPF account.\u202f Now that it is clear how to withdraw money from a PPF account in different cases and how to close it prematurely, let\u2019s also look at how to extend the PPF after its maturity.\u202f Extending PPF after Maturity Once your PPF account matures and you wish to continue it, here are some things to know: You can extend a PPF account in blocks of 5 years for as long as you wish.\u202f If the account holder does not want to withdraw the PPF amount completely, the account is extended by default.\u202f One can continue their PPF after maturity with or without contributions.\u202f In case of no contributions, the existing corpus continues to earn interest.  In case the holder wants to continue investing, they will have to submit Form H within a year of its maturity.\u202f For further assistance in managing your finances effectively, consider opening an online bank account with IndusInd Bank today! The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.  Share This:"}