Can we withdraw money from PPF account online after maturity?

When your PPF account matures, you can withdraw the entire corpus including the interest. You can log in to your net banking to find the withdrawal amount and download Form C for withdrawal. After that, you have to fill and sign the form.

How can I close my SBI PPF account on maturity?

A PPF account can be permanently closed only in case of the death of the account holder, in case the account has not been matured by then. However, a premature closing request can be placed by the owner by submitting a simple form duly signed by the account holder with proper reason for withdrawal.

Is premature withdrawal allowed in PPF account?

One can either take out 50 per cent of the balance at the end of the fourth financial year or 50 per cent of the balance at the end of the preceding year. This depends on whichever amount is lower. An account holder can opt to close his or her PPF account prematurely under certain circumstances.

Can I withdraw my PPF before maturity?

This, in other words, means that all deposits made in the PPF are deductible under Section 80C of the Income Tax Act. Furthermore, the accumulated amount and interest is also exempt from tax at the time of withdrawal. It is important to note that a PPF account cannot be closed before maturity.

When can we withdraw PPF?

A PPF account holder is eligible to withdraw his or her money only when the account is there for five years. For example, if one started an account in February 2020, he or she will be able to withdraw money in the financial year 2025-26. However, all the amount cannot be withdrawn from the PPF account.

Can I withdraw money from my PPF account before maturity?

PPF is a long-term investment scheme with a working tenure of 15 years. Account-holders are eligible to make partial premature withdrawals from their PPF accounts after the completion of 5 financial years from the date on which the account was opened, but only under certain circumstances. Can we close the PPF account before the maturity period?

What is the maturity tenure for a PPF account?

The maturity tenure for PPF account is 15 financial years. It means, if you have opened the account in August 2015, you can close it on 31st March 2031. Once maturity period is completed, you can withdraw entire amount compounded in the account over 15 years. PPF authorities have strict restrictions regarding withdrawal.

What happens after the extension of the PPF account?

After the extension of the PPF account, you will be able to withdraw the amount that was available in the account at the time of maturity. You will also be able to make only one withdrawal in a financial year. Under the PPF scheme, you are allowed to extend the PPF account with contributions.

What happens to my PPF corpus after it matures?

The PPF will be terminated thereafter and the corpus will be credited to your bank account. After your PPF account matures, you have the option to either withdraw the entire corpus or extend the term of the account for as long as you wish in blocks of 5 years.