Apr 3, 2024
The Public Provident Fund (PPF) comes with a tenure of 15 years. You have the choice to borrow money against PPF or make partial withdrawals while it is still in effect, despite the fact that it has a 15-year lock-in term.
Here are three alternatives to proceed with the PPF account once it matures.
The entire corpus can be withdrawn once you reach maturity. You must submit a properly completed Form C at the bank branch or post office where you hold your PPF account in order to do this.
It can be extended in five-year intervals indefinitely. No additional contributions will be accepted. For the following five years, balance will continue to earn applicable interest. During the extended time, you are only permitted to make one partial withdrawal every FY.
Before the end of the year, you must notify the Account Office in writing by filling out Form H if you wish to continue using the account and making new contributions.
As of the latest update in 2024, the PPF interest rate is 7.1% per year, compounded yearly for the April-June 2024 quarter.
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