PPF Maturity rules for withdrawing your money

POSTED BY manish ON June 11, 2012 COMMENTS (603)

Do you know what are the rules on PPF maturity if you want to withdraw your money ? Do you know that you can extend your PPF account a block of 5 yrs after it’s initial maturity of 15 yrs? A lot of people think that once the PPF maturity is over, they get a licence to withdraw the money at any point of time in what ever way they want, in the case of extension of PPF. Today let me highlight some important points that you should be clear about PPF withdrawal rule in case of extension and show you how to calculate your PPF maturity amount. To start with lets answer what Kailash Chandra asked me sometime back on his PPF

I had opened PPF account on 05/05/1995 and extended for 5 years. Now the balance is Rs.651000/- as on 30/04/2012 and want to withdrawal partly. What amount can I draw please intimate. (link)

Whats the answer?

Its 60% Surprised!… lets move on

Before we move forward, let me clear that Public Provident Fund or PPF is a life time account. One can extend it for next 5 yrs for infinite times, this means you can keep on extending it for another 5 yrs after the maturity is over. That would in a way makes it look like a 5 yrs closed fixed deposit earning you applicable interest rate with tax benefits and without any taxation involved, even having a partial withdrawal benefit 🙂  That’s one reason why you want to open your PPF account right now even if you don’t need it at the moment, so that the maturity is 15 yrs away from now. See it as a milestone!

PPF Maturity Rules

1. PPF extended without any further contribution

The first situation is when you want to continue your PPF account, but do not want to put any further money in it . In this case all you want to do is just leave your PPF account as it is and let it earn the interest on the account accumulated. Note that if you dont take any action for 1 yr after your PPF matures, this option is default and automatically activates. Note that once its considered as “extended without any further contribution”, then later you cant put any further subscription in it. Now you can only withdraw from the PPF account, but cannot invest any fresh money in it. Note that in this case, you can withdraw any amount from your Public Provident Fund account, there is no limit. You can withdraw 10%, 50% or 90% as there is no limit. The balance amount will keep on earning the interest further. However you can withdraw only once a year, not more than once. (Learn how PPF account interest is calculated)

Interesting Fact : Now as you know this,  can you see an interesting point here, this way PPF can be acting as a great Pension tool, where you can withdraw the interest part yearly once and then utilize it for full year. For example if a PPF account has 1 crore into it, and lets say the interest is 8% (just an example). You can withdraw 5 lacs out of the Public Provident Fund account and the remaining 95 lacs will earn 8% interest, which will be 7.4 lacs. This 7.4 lacs will be added back to 95 lacs and the total next year would be 102.4 lacs. This way one can keep on withdrawing some amount from it and let it grow too.

2. PPF extended with further contribution

In another option, you can choose to invest in your PPF account on regular basis even after extension. But this has to be done within 1 yr of PPF maturity (before the completion of 16 yrs in PPF). Note that in this case, you can only withdraw maximum 60% of your PPF amount in total within the entire 5 yrs block. Each year you can withdraw maximum once.

For example if your Public Provident Fund balance at maturity is Rs 1 crore. Then you can withdraw a total of maximum 60 lacs in entire 5 yr block. You can withdraw 20 lacs in first year, then 10 lacs in 2nd year and then 30 lacs in 4th year. But Once 60% is consumed , you cant touch any money further for the current block. Only when the 5 yrs are completed and new block of 5 yrs start, then your balance will be 40 lacs and then again the same rule applies. However note that at the start of a new 5 yr block, you can choose whether to continue the regular contribution or stop the contribution, like we discussed in point 1.

Important : If at the time of Public Provident Fund maturity , you will have the potential to invest more in your PPF account in coming years, then better invest more and more and only when its time to retire or when you cant contribute more, extend the PPF with “no further subscription” option.

Bank Officials have no idea about PPF Maturity Rules in detail

A lot of banks (SBI) and Post office officials have no idea about PPF rules in such a detail. They will tell you that it can be extended only 2 times and hence insist on closing your PPF account once 2 extensions happen after your PPF maturity. Tell them that you know what are the rules and also teach them.

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603 replies on this article “PPF Maturity rules for withdrawing your money”

  1. Ramachandran nair says:

    Very informative and helps the investor to save his hard earned money. But, as far as I know, renewal can be done after 15 years only once. If I am wrong please correct me.

    1. NO, you can renew it unlimited number of times !

  2. skb says:

    Excellent writeup on post maturity withdrawal and investment in PPF account. Thanks!

  3. Gopal Kamath says:

    I have a PPF account, extended three times, I want to know if I extend and every year can I with draw 5 to 10 % and keep extending by depositing amount in PPF.
    Pl give me a very specific answer, As I a confused over 60% withdrawal in block of 5 years or get it extended with out contribution

    1. If you extend, you can only withdraw 60% of total corpus in 5 yrs, and rest in maturity year only. Which means that you can withdraw 10% or 5% if you want.

  4. Raj says:

    Hey Manish,

    Can i withdraw 100% at the end of 15 years, incase i do not want to extend to 5 years?

    Thanks,
    Raj

  5. Dddddd says:

    I withdrew 60% from ppf today but realised I don’t need it for the next three months
    Can I put it back in Monday as tomorrow being bank holiday

    1. It does not work like that 🙂 . You can surely deposit it , but then it will be treated as a fresh deposit, and next time after 3 months if you want to withdraw it, it might not be available as the PPF withdrawl rules will apply and you might get a smaller amount

  6. AnanthaRamu says:

    I opened PPF account on 18th August 2001 in post Office, I approached them on maturity, They claim that it matures for the financial year & I can withdraw only after March 2017.

  7. bhagwan says:

    Respected Sir, My father expired , he has got PPF investment and given two names of nominees, My mother and mine . so can i get his money direct in my mother account , The account will be matured in march 2018. pls advise

    1. Shivanshu says:

      Sorry for your loss. In case of death of ppf owner you are allowed to redeem anytime after the death. So you need not require to wait for 15yrs or maturity date.

    2. Hi bhagwan

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

  8. Priya says:

    Hey Manish,

    My father’s 15 year PPF account matured last year in Apr 2015. We forgot to extend the account within one year of maturity. I wanted to know, if its possible to extend the account now. Or do you have any other suggestions in this case? I don’t want to withdraw the money and open a new PPF since we are looking for short term deposit, might want to withdraw after a year or so.
    Please reply when you get time.

    Thanks,
    Priya

    1. It gets automatically extended to another 5 yrs with “Without deposit” option

  9. satyanarayana says:

    HI Manish,

    I have an doubt, let say I contribute 30k/year to my ppf and 20k/year to my spouse’s ppf. now could I show 50k/year as tax savings for my tax deduction.

    1. No, you can only show it for your PPF

  10. Saransh says:

    Hi,
    My mother’s PPF account matured in 2015 , then she extended and invested in it again.
    But now, she wants to withdraw some amount.
    How much can she withdraw ?

  11. Puneesh says:

    Hi Manish,
    I have been viewing your threaded responses to PPF related issues. I have a query – my father’s PPF account term expires in 2017. He is a pensioner and had opened this account 25 years ago. He would now like to withdraw the complete amount on maturity and wants to know that although this withdrawal including interest is tax free, will it be clubbed with his income for the year and taxed accordingly? Thanks in advance. Pineesh Tandon

    1. Yes , he can withdraw the full amount from PPF , and every penny which he will get (included interest) will be tax free !

  12. Siddharth says:

    Hey team,

    Just got employed and planning for a 15 year maturity ppf account. Just saw a ppf intrest calculator where i computed the total amount after 15 years.

    So my question is after 15 years , the closing balance is 17 lakh and the withdrawal available is 5.1 lakh. what is this difference? Surely it wont be 5 lakh as im planning to invest 60k per year for 15 years.

    Please guide

    1. It has to be full amount as after maturity you can withdraw full amount !

  13. Prabha says:

    I am a senior citizen. I have extended PPF account two times. It is maturing in the year 2020. if I want to close and withdraw the full amount in the year 2018 itself, what will be repercussions?

    1. You cant do that as far as I know !

      Manish

  14. amit says:

    Hi, can i withdraw full amount after maturity 15 years.

  15. Manoj says:

    Dear Manish,

    Great article. I opened my PPF account with the first deposit being December 96 i.e. FY9697. I extended the PPF account in 2011 by 5 years, so it should have matured in March 2016, being 20 financial years. However after sitting on my application for withdrawal for 2 months, my post office fellows are saying it will mature in March 2017, not now. Is this the correct? Thanks in advance for replying

    1. Manoj

      They are correct. Please see the PPF maturity related rules – https://www.jagoinvestor.com/2014/12/ppf-maturity-date-calculation.html

  16. Prakash says:

    Hi, I have a query:
    1) A PPF account matured on 1st Apr 2015. The account was closed on 16th Mar 2016. The bank says that since the closure request is in the middle of the month interest is calculated only upto previous month, i.e. Feb 2016. So I loose interest for 15 days.

    Is this correct ?

    2) It is noticed that interest is calculated not by the number of days but number of months. So, in a leap year I loose interest for 1 day (extra day in February).

    Is this correct ? Why should investor loose interest of 1 day (of 29 February)

    1. From what I know the interest is calculated on 5th of every month. So yes you will loose interest for 10 days , not 15

      This is how the product works !

  17. Sachin says:

    How is the 60% withdrawal calculated. Does it include the amount invested during the 5 years extension or only 60% of amount invested upto the 15 years tenure? Say for example amount accrued upto 15 years was Rs. 10 Lacs and during the extension Rs. 2 lacs additional invested. So Rs. 6 Lacs can be withdrawn or Rs. 7.20 Lacs?

    1. 60% of the total maturity amount !

  18. na says:

    can i open ppf account for my US born child but indian origin parents???

    1. I dont think you can do that !

  19. vishal says:

    My PPF account completed 15 years 3 years ago and i Have been making regular contribution every year even now. But I have not submitted any form for extension. What implication will it have and what should I do now?

    1. In that case its automatically extended without contribution !

  20. Epchi says:

    My PPF account was opened in Jan 2016 .due to some circumstances i could not continue these PPF Account.i want to close and withdraw amount my condition is not good
    my total amout in paid 49,000.

    please guide..

    please do the needfull..

    1. Its not possible . PPF accounts have lock in of 15 yrs !

  21. Siva says:

    Hi,

    I have PPF account with SBI which is matured on 31st Mar 2016. When I checked with SBI about the option of extension without contribution and continue to earn interest, they say it is not the case and interest earning cease to exist effective maturity date which is 31st Mar 2016 in my case. Can you please confirm? Appreciate your help.

    Thanks

    1. Its possible . THey are lying . Better use RTI now

  22. Anonymous says:

    hi. my account was opened in 1992 by my father. i withdrew 60% amount from ppf account in december 2014. now i need money and visited pnb bank but they said i can only withdraw in 2017, that too will be partial withdrawl.

    My question is how can i withdraw total amount of 4.75L from my account? i think the 5 year extension block will be over in 2017. so how can i withdraw total amount? i no longer need the account so i dont mind closing it. i need to pay off a loan so i need to withdraw entire balance.

    Can i close my account during 5 year extension block and withdraw full amount? or I can close the account only once 5 year extension block is completed?

    i just need my money in full. how do it go about it?

    1. The step you should do it file an RTI with the bank to check with your queries, a lot of times the ground staff says something different than the actual rules

      Manish

  23. ADITYA says:

    I have a ppf account at my place in the name of my uncle. The account matured. My uncle now lives out of station. Do physical presence of uncle is required at the time of maturity. I am ready to accept an account payee cheque . Kindly advice.

    1. Aditya

      As of now I am not very sure, But I think it might be possible because the sign is mainly required on the withdrawal form. SO if your uncle send a courier with the signed form, Then it might be possible, but still I am not very sure on that

      Manish

  24. rajneesh says:

    Dear Sir
    I have a ppf account in the name of my son.it already got matured.but my son is still a minor. Can I close the account .pls suggest. Because SBI manager is giving some strange logic that a money in the name of minor can only be withdrawn by him only after he becomes major.

    1. PPF account has to run for 15 yrs, you cant close it before that !

  25. Vedprakash says:

    All information provided related to financial planning and taxation are really useful for me and other’s.

    1. Thanks for sharing that Vedprakash

    2. Thanks for sharing that VedprakashThanks for sharing that Vedprakash

  26. Sunny says:

    I have a PPF Account in Bank of baroda. It matured on 31.3.10.
    I had opted for ‘Continue With further contributions’. Now it matured on 31.3.15.
    I want to now opt for ‘Continue Without further contributions’ which should be automatic (without filling any form)
    But the branch says that since i have not filled Form H, my account will be discontinued from 31.3.16 & i have to compulsory withdraw.
    What should i do now?

    1. From what I understand if you dont fill up any form, then it continues !

  27. Hemali Yägnik says:

    CAN NRI transfer his proceeds of PPF account directly in NRE account ??

    1. Yes, but for that you will have to do the documentation !

  28. SS says:

    Have two PPF a/c in my two sons name. Both a/c we have completed 15+5 years as of Mar’16. Is it worth continuing for for further 5 years, withdraw permissable amount or close the account fully & start a new a/c this year. If we can withdraw any good investment options – Bima Bachat or other with better returns

    1. I cant comment if its a good option or not . You will get PPF account for another 5 yrs, its you who has to judge if its good for your situation or not !

      1. Ajit Kumar says:

        Thanks for the information provided.It is highly educative.

        1. Jagoinvestor Admin says:

          Thanks for your comment Ajit Kumar .. Please keep sharing your views like this..

          Manish

  29. Ryan says:

    Manish,

    Thanks for yoru article very crisp and informative.

    I have a question for you:

    My original ppf ac was opened in 1995. Was extended in 2005.
    It then completed first 5 years on 27/03/2015.
    I failed to make a deposit for the year between 27/3/15 and 27/3/16. Now im told i cant make contributions for 5 years.

    Given this was a second extension, did i need to submit a form H again? Cant i just pay 500 for the missed year and carry on.

    If not and my ccount is now extended without contribution when can i return to contribution mode 27/03/2020 or 27/03/2021.

    At that point what do i need to do, submit form H?

    Thanks for your help.

    1. Hi Ryan

      I suggest that you now take the RTI route. You can file the RTI and ask your queries to them. THey are bound to reply you on your queries.

      Its a bit long cut, but works well

      Manish

  30. Jagdish says:

    Sir I started a PPF account with Allahabad and the first contribution date was 31-01-2002. I contributed in this account regularly and paid the last installment in March 2016. Please tell me if I will have to make one more installment and also tell when I can withdraw my full amount.

    1. Better take the maturity date from them itself

  31. sushil says:

    HI MANISH.
    GOOD TO SEE SOLVING PROBLEMS TO VARIOUS INVESTORS BY PROVIDING VERY USEFUL INFORMATIONS AND CLARIFICATIONS ON PPF AND OTHER MATTERS.
    MY PROBLEM IS I OPENED A PPF ACCOUNT IN MY SON NAME IN 1997 WHEN HE WAS 5 YEARS OLD HE BACAME MAJOR ON 2010 WHEN I GAVE HIS SIGNATURE ETC TO BANK TO OPERATE ACCOUNT AS INDIVIDUAL SINCE 15 YEAR IS COMPLETED ON 2012 AND BANK GAVE ME PERMISSION TO WITHDRAW ONCE UP TO 60%LAST YEAR IS NOT ALLOWING ME FURTHER TO WITHDRAW TILL MATURITY WITH IS DUE IN NEXT YEAR SINCE I NEED FUND I TOLD THEM THAT THEY SHOULD TREAT ACCOUNT AS NEW UNDER INDIVIAL HOLDERSHIP FROM THE DATE OF MY SON BECAME MAJOR ie 2000 and date of orignal opening may not be applicable in this case since it bcame operational under his individual holder wef from 2000 so extension period provision donot apply in prasent case and i may be allowed to draw fund . kindly advise at your earliest since i am badly in need of funds.

    regards

    sushil airen

    9425055231

    1. It does not work like that.

      The date of one becoming major does not matter in PPF !

  32. Rudresh says:

    I had opened a ppf at my local post office on February 6, 2006.

    I heard that from February 23 this year we can prematurely close and withdraw the amount.

    When I went to the post office they said they’d not received any official information.

    I believe it must appear in some gazette.

    Please help me. How can I withdraw the full amount?

    1. You can prematurely withdraw after 7 yrs, but not CLOSE It !

      1. Rudresh says:

        Thanks for replying Manish.

        I’m sure it’s possible.

        Here is a link:
        http://www.bemoneyaware.com/blog/ppf/

        Please see the red text under liquidity paragraph.

        Thank you for your time.

        1. Rudresh says:

          This February 23 rule is new.

          Even otherwise you can send a request to finance ministry with valid reasons. They will consider it.

          Under rule 5 of the act the govt. site link:
          http://www.nsiindia.gov.in/writereaddata/FileUploads/PPF.pdf

          Please understand I am short of money. Hence I did all this research. I don’t mean to offend you or the website in any way.

          Best regards.

  33. Vijay says:

    I am a NRIs. I would like to know if I can open a ppf a/c in my child’s name when born in lndia.

  34. Keshav says:

    Hi,

    My PPF account in SBI, Bangalore has matured in March 31, 2015 and I have not renewed it since I got to know today on March 23, 2016 when i went to deposit some money. Bank people asked me to go my home branch and enquire. Will my account would have earned interest between Marc 2015 to March 2016?

  35. Herat says:

    If I deposit an amounts in 14th year, can I withdraw this in the 15th year when ppf ends?
    Apart from compounding, is there any other advantage of opening ppf account early?

    1. Yes, you can withdraw it once 15 yr ends !

      1. Herat says:

        awesome, thanks – it makes sense to open early then

  36. Bhawani says:

    My PPF account was opened in feb 1998. it matured in 2013 and i extended it for a block of 5 years. balance as on 31-03-13 was 1980773/-. balance now is 2717277/- as on 14-6-15. how much can i withdraw in a single withdrawl say in april 2016

    1. Bhawani says:

      Max 60% of the value at maturity after 15 years??

  37. Nandita says:

    My sons (who are foreign passport holders but have an OCI) have their PPF accounts maturing soon. What is the process for withdrawal of funds as they have no Aadhar card or PAN card?

    1. They will have to visit the bank/po and share their identity details (some document)

  38. Raghu says:

    Hi,

    I opened my PPF account in 2007-2008 financial year in PNB, and I kept on adding maximum allowed amount in it every year.
    this year (July 2015), I transferred my PPF account from PNB (delhi) to SBI (Amritsar).
    Now my question is that can I withdraw any amount from PPF account? I know we can withdraw some amount from it starting 7th year. But in my case the account is not continuous in one bank.
    Valueable replies from the excperts will be appreciated.

    Thanks.

    1. No , it does not matter if its with same bank or not. Your opening date will be considered

  39. Anil says:

    I opened a ppf account with GPO Parliament Street New Delhi in March 2000 and do not wish to extend the same on completion of 15 years . When I went to close the account and withdraw all the money in March 2015 I was told that I would have to wait one more year . My question is now it is March 2016 but I am currently posted outside the country . I want to know till when I can go back to the post office to withdraw the entire amount and close this before it renews for another 5 years.

    1. Yes, you can now go and take out the money !

  40. Amit says:

    Hi,
    I want to open PPF account for my wife and would open it in next 15days, which would be in March, current financial year itself.
    I wanted to know when will the lock-in period of 15 years end in this case?

    1. It will end in 15 yrs

  41. Ranajit says:

    Hi ! Manish,

    Request your response on my PPF query.

    Suppose, a father opened a PPF account in his son’s name, where-in, he deposits the yearly amount & claims IT benefit (against 80C), as per Govt. IT rules.

    The question is …..
    Post maturity, will the “PPF matured value” be considered as “son’s” income, thus making son liable to pay income-tax … !!!

    Appreciate your expert advice.

    – Ranajit

    1. Alex says:

      PPF is exempt from income tax at maturity. It is treated under EEE (Exempt-exempt-exempt) category. So your son will not have any tax implication if after 15 years he decides to withdraw.

    2. Yes, as its a son PPF, only the son is eligible for the PPF money

  42. SUBHASH says:

    Suppose i have PPF a/c in X bank & i had maintained the transactions for 10-12 years after which the said bank got submerged then will i be able to make my transactions through other banks & make the withdrawal too after maturity?

  43. Jagannathan says:

    I am a 65 year old tax payer and I have a PPF account now in force after the second five year extension . My wife’s age is 59 and she also has taxable income from pension and she had closed her PPF account few years back and we do not want to open a fresh PPF account . Now my question is whether she can contribute in my PPF account in addition to my own contribution for Sec 80 C benefits , subject to total limit of Rs 1.5 lakhs per PPF account . Whether can we both claim deduction under sec 80 C after contributing in one PPF account of the spouse .
    Kindly clarify , whether this is permissible as per PPF & IT rules . Jagannathan

    1. No , she cant invest in your PPF and claim deductions at the same time .

  44. Raj says:

    Hi Manish,

    I’m planning to open a PPF account for my son who is 1.5 yrs old. I can opt to close the PPF account when is 16.5 yrs or extend it to another 5 yrs and close it when he would be 21.5 yrs. If I choose the later, then will my son be able to open a PPF account by himself after closing the one which I had started from him.

  45. Mahadish says:

    If my amount at the end of 3rd yr is 2lakhs of which i have withdrawn 1lakh (50% of 2lakhs) In aug 2015.
    Now at the end of 4th yr my balance was 3 lakhs. So can i withdraw 1.5Lakhs before march 2016?

    Or can i withdraw it only after 31st March 2016?

  46. swati says:

    After maturity of a ppf a/c..when we continue it for further five yrs…when can we withdraw the 60% of matured amt? and if not wish to withdraw the entire 60% in one time…can we withdraw it 20% in coming 3 years or we have to take the amt in five years..plz reply..

  47. Sumit says:

    Hi,

    My account has matured and is now in extension mode. If I want to discontinue the deposit, should I wait for the current 5 year block to end or can I stop depositing from this year itself
    Will I be penalized if I stop depositing immediately

    If I stop depositing now (assume 3rd year of 5 year block), in which year I can withdraw the entire amount..1 year from now or 1 year after the block period ends (which will be 4 years from now) ?

    1. Hi Sumit

      You can choose to STOP depositing , however you will get the money after 5 yrs are over .

  48. krishnan says:

    I have just closed my PPF account, which was opened in 1999. This was closed as I needed the money urgently. Now I want to know whether I can open a fresh PPF account for another 15 years and continue to contribute to get IT rebate. I’m 43 years old now.

    1. Yes, you can do that !

  49. Naitul says:

    Hi

    I have a PPF acccount opened on 1/Jan/2001, so ideally it will mature on once the financial year 2015-16 ends. So my maturity date will be 1/April/2016.

    My question is : If I deposit any amount after 1/Jan/2016 would I be eligible for 80C deduction for the current Financial Year 2015-16 and would I earn any interest on the amount deposited,

    1. Yes, you will be eligible for 80C and anyways interest is calculated and given on monthly basis , so you will get interest for few months

  50. vasudev says:

    i opened a ppf account in the month of march 2002 with Rs.500/= and did not continue with that . Now i want to close this account.Is it possible? or can i with draw a partial amount wait till March 2017 for complete closure? kindly advise, thank you

    with regards
    vasu

    1. There is no concept of closing it before the lock in period.

  51. NitinMahajan says:

    On maturity of PPF account, for continuation, is the onus on the bank have to get a form, regarding extension, filled by me?
    What if the account has been continued with my deposits received by bank from my nre account for 8 yrs beyond maturity and now am being told , am not eligible for any interest for amount deposited in last 8 fy’s.

    1. Its not the bank responsibility . IF you dont fill up the form, your PPF account should be continued considering you are not making any additional investments.

  52. NitinMahajan says:

    As a merchant navy officer, sailing in foreign company and have nre account:
    1. My stay in India is usually less than 182 days in 1 yr.
    2. But is more than 600 days in previous 4 yrs,
    As per above, do I qualify as resident or non-resident from perspective of”residency” status.

    1. I am not very clear on this Nitin. Its suggested to consult a CA

  53. Jagdish says:

    A persons PF account is maturing in January 2016. Can he deposit amount before maturity and claim deduction u/s 80 C for the assessment year 2016-17 and withdraw amount after March, 2016? Please reply.

    1. Yes, he can do that

  54. Girish says:

    The rules mentioned by you regarding extension of PPF may be perfectly right but how do we convince the stubborn SBI officials or post office officials for that matter? If the concerned officer knows some rule then that is final for him and he will not do anything based upon our telling him the rule.

    Although you have used 1 Crore only as an example but how can any PPF account ever have such huge corpus. Earlier the limit was Rs 1 lac p.a. and now it is 1.5 lac p.a. so typically a person would have around 15 to 20 lacs maxi in his PPF account?

    1. The only way is file an RTI, get the reply and take it with you !

  55. SSingh says:

    For full official terms and conditions in details go to ” http://www.nsiindia.gov.in/writereaddata/FileUploads/PPF.pdf

  56. Vipuldani says:

    Dear Sir,
    My father is retired as well as deaf and dumb. While he was doing job, he was having PPF account and after maturity he withdrawn amount and closed that account. Now before retiring three years he open a new PPF account thinking that after retiring he will close that account and withdraw the amount.
    But when we approached bank, they told us that maturity of this account is on 2028 and we have to wait till that time to withdraw amount.
    Please advise us what to do in this matter if we want to close PPF Account.
    Regards,
    Vipul.

    1. You cant have two PPF accounts for the same person, why to close it and open new. Just extend the same one for next 5 yrs and keep doing so !

  57. Anit parikh says:

    My PPF account opening date is 12.12.1995 and extended for five years. What will be the maturity date? When i will get my total money back?
    Please let me know.
    Thanks

  58. Tariq says:

    Hello,
    My father had open a ppf account in pnb on 7/9/2010 but on july 2015 he died, so I want to know that how can the money can withdrawal from ppf acc.

    1. Yes you can withdraw the money. If you are on nominee list, then you can do it , you will have to file a claim form and some documents. If you are not a nominee then you will have to bring the succession certificate

  59. varunraheja says:

    I have PPF Huf account in which 15 yrs completed on 2014.

    But SBI is not paying interest on the amount after 2011.

    Please assist.

    Regards

    Varun

    1. Hi varunraheja

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

      1. Baldevbhai says:

        In the year 2011 a resolution was passed by the central Government that none can open PPF account in the name of HUF ( Hundu Undivided Family) . And if someone hold such PPF Account than he has to close the same otherwise interest will not be payed. This is the reason why you are not getting interest on your Account form the year 2011. Please ask your banker, you will get this answer. Baldevbhai, Ahmedabad, Gujarat.

        1. Thanks for your comment Baldevbhai

  60. anitha says:

    my friend’s ppf a/c was matured on 31/03/2014. he had dropped a cheque for rs.100000 on 8/06/2014 in other branch of the bank and the same was paid by the payee bank. since the a/c was matured it was not credited to ppf a/c and the same was sent by bank to the customer by dd to the address but got returned due to wrong address and dd was lying in the bank(other branch) and got credited in july 15 after submission of form h. my friend approached his bank and extended his ppf in july 2015 for 5 yrs . is this is acceptable. and if this is acceptable is he elible for interest for Rs.1,00,000/- till now. pls reply at the earliest.

    1. Hi anitha

      I suggest that you now take the RTI route. You can file the RTI and ask your queries to them. THey are bound to reply you on your queries.

      Its a bit long cut, but works well

      Manish

  61. ashok chowdhury says:

    I opened a ppf account with sbi in fy 1997/1998, on completion of 15 yrs, due to lack of knowledge, I could not continue with further subscription. As I kept that money for my daughters marriage, I do not wish to withdraw the amount at the moment. My query is will I get the interest on my amount till I withdraw e.g. next 4/5 yrs. Bank is insisting on closing the account. Pls guide.

    1. Yes you will get the interst on it. Dont close it, its not mandatory

  62. syed faila says:

    I open ppf account on 27-7-2000 I have given closing 29-7-2015 but they says not possible it is possible after financial year why??plz reply soon

    1. Ram says:

      Dear Syed,
      A PPF account has to complete 15 full Financial years and matures on 1st April of every FY post these 15 years, irrespective of the opening date. In your case, the maturity date should be March 31st 2016. You can withdraw the full amount on 1st April 2016.

  63. sanjeev says:

    Hi my self sanjeev, last year i opened a ppf account in punjab national bank, bank give only statement of my ppf acount, they not give me any passbook of my ppf account, I want to know that it’s necessary to keep passbook with myself for 15 years or statement is enought? Please reply me.

    1. Statement should be good enough. However having a passbook a good thing !

  64. Gautam Kamath says:

    Hi friends,
    One of my relative has a query regarding ppf before he approaches the bank.

    Hi.
    Had a query.
    Opened ppf account in 1989.
    Extended it 3rd time again by 5 years from April 2015.
    Tuk 50 percent withdrawal limit in April 2015 itself.
    Now can’t withdraw.
    Need money for personal use.
    Never took a loan.
    Can he avail loan now.If yes, how much.
    Pls help
    Regards

    1. Hi Gautam Kamath

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

  65. ARINDAMMAJUMDER says:

    My ppf account opening date- 17/01/2001
    Maturity date- 17/01/2016
    When I get my entire money? Is it on 17/01/2016 or after 31st March 2016??

    1. Hi ARINDAMMAJUMDER

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

    2. Ram says:

      31st March 2016 is the maturity date. A PPF account has to complete 15 full Financial years and matures on 1st April of every FY post these 15 years, irrespective of the opening date. In your case, the maturity date should be March 31st 2016

  66. Inder says:

    I have opened a PPF and a Savings account with SBI last year. Now SBI has started deducting small amounts frequently from my account without my permission which is annoying me. I have a salary account with HDFC from last 8 Years and i am very happy with the services. I want to close the SBI account as they have poor customer services and i am sure that they will not refund the deducted amount and will keep on deducting the amount in future as well. I have made a Tax Saving FD with SBI as well in March for 50k.

    Please advise what can be done in this case. I have a PPF and a tax saving FD with SBI. In this case can i close the account and keep my PPF running and once the FD Matures can they issue me a check?

    1. Inder

      Did you check with SBI what charges are they deducting ?

  67. Ravi says:

    Hi Manish,

    Do you need to be personally available in the post office to close the post office based PPF account?

    My PPF account is matured and since am away, Is there provision to close the account by postal mail?

    Appreciated your reply.

    Thanks
    Ravi

    1. Hi Ravi

      I guess you can filled in form to them by post !

  68. Dr Rajan says:

    Dear Manish, & Joydeep,

    I am sure that the PPF depositor has to make a withdrawal claim of the matured amount and indicate in that form that the amount may be credited to his/her SB a/c with SBI if he/she has one. The maturity amount will not be automatically (without your claim) be credited to SB a/c. This is because the depositor has also the option to retain the amount in PPF after maturity without further contribution and the bank would not know if you exercise this option or you want to withdraw.
    2. It appears from the above that an SB in SBI is must for getting the maturity amount.
    3. If you do not extend for another block of 5 years does the accumulated balance after maturity get interest? Please confirm after checking with the PPF rules/bank/PO.
    Thanks,
    Dr Durai Rajan

  69. Varun says:

    Hi Manish,

    After the PPF account completes 15 years, whenever we withdraw the allowed amount, does it cause any tax implications? Can the withdrawn amount be re-invested in the same PPF account and tax benefit be claimed on that re-deposited amount in that FY ?

    Regards,
    Varun

    1. Definately., the withdrawed amount can be reinvested in PPF back and reclaimed for 80C. Its called Laderring concept 🙂

      1. Varun says:

        Oh great ! Thanks for confirming Manish 🙂

  70. joydeep says:

    Hi Manish,

    Thank you for the article as it cleared all my doubts. But I have a question, regarding which even the local bank official could not gave me an answer.
    I have a SBI savings account, linked to the PPF account. So after 15 years(after maturity), if I do not make any contribution, will the entire money be available on my account(Just like, when FD gets matured, it gets added to the savings account) or will I have to submit forms to withdraw that amount?

    In short, what are the ways to withdraw the matured PPF money?

    Regards,
    Joydeep

    1. If its linked to your SBI account, you can take the money in your SBI account itself. You will have to apply for it .

      Manish

  71. Rajib says:

    Hi Manish,

    Got to visit this page as I’m planning to close my car loan from the PPF account ,18 years old.
    Is it wise to withdraw from PPF account and repay the car loan (current ROI: 10.7%)?

    Thanks
    Rajib.

    1. Yes you can do that

  72. Nikhil Jain says:

    My ppf account got matured on 30.04.2015 after completion of 15 years. Unaware of this event I deposited certain amount in my PPF account on 01.05.2015. The money was debited from my account on 02.05.2015. But then they called me on 08.05.2015 informing about the completion of 15 years of PPF account for which I am very thankful to them and told me the requirement of extension of PPF account. They then credited money in my PPF account on 09.05.2015. Will I be eligible for interest for the month of may, 2015. Till then the money was with the SBI.

    Regards

    1. V.Narayana Murty says:

      Yes, you are eligible for the interest. Please note that PPF accounts will be matured on April 1st only. Not on any other day.

    2. I dont think you will get any interest for May

  73. manoj kumar agrawal says:

    मेरा ppf (huf) अकाउंट स्टेट बैंक ऑफ़ इंडिया में है | जो की वर्ष 2003 में खुला था क्या वह 15 वर्ष से पहले बंद हो सकता है? क्या ऐसा कोई नियम आया है ?

    1. No , you cant stop it before 15 yrs

  74. Harish Patel says:

    My HUF’s PPF account with bank of Baroda got matured on 31.03.2015. As per i.tax act HUF’s PPF account can not be extended hence I applied to close the account on 01.05.2015. Bank closed the account and issued cheque for the amount as on 31.03.2015 without giving interest for April 2015. Am I eligible for interest on outstanding amount as on 31.03.2015 for April’15 ? If yes, kindly quoat PPF rule.

    Thanks & Regards
    Harish Patel

    1. No , the PPF has matured on Mar end, and I guess in giving the cheque and those procedures 1-2 months goes .. hence I think you will not get any interst

      Manish

  75. Dr.Aloke Chatterjee says:

    I have started ppf in Lajpatnagar,delhi Post office & first payment made on 12/3/1996 i.e FY 1995-96 & since then kept on paying in each FY,in jan’ 2010 Further extended for 5 years.My questions are :
    1.Can I withdraw the total amount now i,e april 2015 ? being Total 20 instalments are over.
    2.Is there any moratorium ? The last instalment I have made in FY 2014-15 ,26/6/14 & 14/11/14. Does it mean that I shall have to wait till 14/11/2015 to complete one year from the last payment ?Or after the 31/3/2015 there would be NO Interest added ?
    3.What are the documents e,g Photo,ID,PP,Adfhar card etc needed to withdraw ?
    Regards.
    Dr.Aloke Chatterjee.

    1. Yes you can withdraw that

      Just take the passbook with you

      1. Dr.Aloke Chatterjee says:

        Yes I tried & visited lajpatnagar p.o on 7 th april’15,where I have been depositing since last 20 years.The astt post master checked & confirmed & asked to come after 7-10 days,since it has to go to Lodi Road p.o for verification etc.22 nd april ,on receiving phone call from my gaent mrs sarda talwar that something written by Lodi rd post master’Cheque can’t be made for ….” is illegible.I reached next day i,e 23 rd (delhi at 40 deg C ),Shocked to see “a/c for further extension for 5 years “.i argued,what is this,Ii have never applied & it has no sense,since last 20 years over & I am at 68.Lajpatnagar’s me lekhram expressed helpless nes & written what I said & asked me to go to Lodi rd p.o.I had no option.Mr Shishu pal Sharma is the astt post master did this.Why ? who’ll answer.Only thing on my charging,he said tell me what you want.I said,of course loudly,can’t you read ? Its a withdrawl application.he suddenly finds that the a/cs-deposits,interests etc are NOT TALLYING in between two post offices,he has to call for Ledger & tally & again I have to make visits.How many,GOD only Knows. Its a unique experience of harrasements & of course with some hidden agenda.Hope The ‘Good Governance’ prevails in this country.

        1. Hi Dr.Aloke Chatterjee

          I suggest that you now take the RTI route. You can file the RTI and ask your queries to them. THey are bound to reply you on your queries.

          Its a bit long cut, but works well

          Manish

  76. Anand Chavan says:

    Is it necessary to apply to bank for extension of PPF account maturity period with ferther contribution? If yes, then within how many max. days after maturity?

    1. Yes, you need to fill up a form for that !

  77. kalpana says:

    how to withdraw the ppf account money before time as the account holder is deceased??

    1. V.Narayana Murty says:

      No premature withdrawal is allowed for PPF accounts. Only in the case of the death of a subscriber, their nominee /legal heir can close the account by submitting the required documents as guided by the Ministry of Finance.

  78. Atul says:

    Hello Manish,

    Great Article!

    I would like to know about few more things.

    1. After the completion of 15 years of the PPF account, is the total amount taxable with the interest earned?
    2. As I read that interest rate is calculated only once in a year. Is it a fixed date for all accounts like 31th march or so? If yes then will I get interest for the said year if I deposit my money on 30th march?

  79. jayesh says:

    I opened my PPF account in November 2000. When my PPF account will Mature and I can widraw the full amount ?

  80. Stanley says:

    Very well explained, thanks Mr Manish

  81. Mohit says:

    If I do a partial withdraw from my PPF account say after 7-8 years, would that attract any kind of taxation?

  82. Saurabh agarwal says:

    Hi Manish,

    My PPF accunt opened in 1999 is already past 15 years now.

    I want to continue the account with intent to fresh deposits over next 5 years.

    My PPF account has around 12 Lakhs, so for 2014-15 80c Savings if i put my 12 Lakhs in extension mode will that be considered as savings under 80c for current year??

    Thanks to help on this, as it is very urgent to understand.

    Best Regards,
    Saurabh.

    1. Yes. You can do partial withdrawal of some amount and then invest the same in PPF and claim 80C for this .

      Manish

  83. Ramesh Kumar Mittal says:

    My PPF account in SBI is matured for closure. I wish to close my PPF account and wish to transfer the maturity amount with interest till date to my saving account in an other Bank i.e. HDFC Bank. Is it necessary to me to present in SBI branch personally to close my PPF a/c ? Or is it possible through a messenger / authorized representative along with Form – C duly filled and signed requesting to credit the maturity amount in my saving account in HDFC Bank or issue a DD/BC in my favor with pass book and authority letter for this purpose ? Please give a prompt reply. Thanks

    1. As of now , I know that one cant do so .. But there should be a way for this . I will try to find out this information and will write a complete post on this .

      Manish

      1. Vikram says:

        Sir, How many times withdraw amount in PPF account in 15 years?
        Can I withdraw amount every year after 6 years?
        If I can withdraw then how much amount withdraw in 7th year, 8 year……….15year.
        I am requesting to you please reply me

        1. Yes, you can withdraw PPF every year after 6 yrs if you wish !

          1. Vikram says:

            Thanks Sir,
            But how much in 7th year & how much 8th year?

            1. 100% of past year or 50% of year before that, which ever is minimum !

  84. somnath says:

    sir I am confuse .open my ppf account in sbi or icici bank. or close the ppf ac in 3 or 4 year its possible or not. how

    1. You can open your PPF anywhere, but note that you cant close it in 3-4 yrs

  85. Brij Bhushan says:

    I opened an PPF a/c on 31/3/94. In some years the minimum amount has not been deposited . This shortage of payment has been deposited with late fee of per year 50/- per year. Now, the maturity date was Ist 31/03/09, IInd Block 31/03/14. I made Last deposit of Rs 500/- on 30/01/14.. Now today on 19/11/14 the status is being shown as five year not completed. when the amount is withdrawnable

    1. The PPF is getting extended for a block of 5 yrs , seems like the 5 yr block is not complete yet from the last extended date !

      1. Brij Bhushan says:

        Thanks for attending / Answering. Sir, My Basic Question was if I have deposited Rs 500/= on 30/01/14, when will the date of final withdrawl after completing (existing) block of 5 years

        1. It will be 5 yrs exactly from the date of maturity of PPF (when it matured for the first time)

  86. monotosh says:

    CAN ANYONE TELL HOW TO WITHDRAW MONEY ONCE IT COMPLETES 15 YEARS…WILL IT BE TRANSFERRED TO THE LINKED SAVINGS ACCOUNT…
    HAS ANYONE PRACTICALLY DONE SO..
    PLEASE ANSWER..

    1. Once the 15 yrs is complete , go to the branch and fill up the redemption form within a year and ask them to transfer it to the account . Else it will get extended for next 5 yrs block !

  87. Karthik S says:

    Hi,

    Kindly confirm post maturity whether the amount will be credited to my sb account or do I need to visit the home branch personally to withdraw the benefits? kindly confirm.

    1. You will have to visit the branch once to get the money . it does not happen automatically !

  88. sk mohanty says:

    I have left an organisation coming under Delhi Govt Act & Rules with my PF contribution of 18 months. Will I get both the share (mine as well as the company) as I left the organisation and joined in Govt sector ? Please intimate.

    1. Yes, you will get both

  89. BAPPA RAY says:

    Sir, I had opened a PPF account with SBI on 25.03.1998 and paid monthly subscription till 20012-13, without any withdrawal at any point of time. I knew that 15 years have passed on 31.03.13 but I decided to keep the amount in the account beyond 31.03.2013 (without paying annual subscription) so that it may earn interest after 31.03.13 and as I am now retiring from my service, I shall now withdrawn the amount with upto date interest for other investment. In last week I went to SBI from withdrawing that amount maturity payable by is the deposit lying in my account as on 31.03.13. He clarified that no interest is payable to me after 31.03.13 unless I renew the account at for 5 years from 31.03.13. I have not withdrawn the amount till now as I am not interested to renew the account and till I get such confirmation from other source. Now my contention is that as the amount is lying in the account since 31.03.13, I am eligible for payment of interest uptodate, may be in lower rate, at the time of withdrawal now. In Bank fixed deposits interest at savings deposit rate is paid in such cases. Kindly inform me the rules in this regard . Thanking you – BAPPA RAY

    1. If you do not extend it manually, then it is extended automatically for 5 yrs .. I think you should file RTI and raise this issue

  90. Amit says:

    LOL it would take 56 Years to get to 1Crore in PPF balance with 1 lac yearly deposit

  91. Sandeep Kumar singh says:

    Hi Manish

    I opened my PPF account in Dec 2008. And my query is that
    a) could i withdraw 50% of PPF amount this year ?
    b) I transferred my PPF A/c from one state to other this year , if i withdraw will it effect any calculation of year like it call 1st year, although PPF a/c changed after transfer.
    c) If i can withdraw the 50% this year then that amount calculation will be ending of 5th year or 6 year.

    I hope you understand my query. If any doubt just let me know.

    Thanks
    Sandeep Kumar singh

    1. Hi Sandeep

      No you cant withdraw 50% like that . There is specific withdrawal rule for PPF ..

      Transferring it from one place to another will not make much change !

      1. Sandeep Kumar singh says:

        Hi Manish

        Thanks for your response .

        Could you let me know that if I opened my PPF Account on Dec 2008 then when i can withdraw 50% of Amount means after dec 2014 or dec 2015.

        Could you give me exact month and year as per rule of PPF for withdrawing.

        1. You could withdraw once a year, from the 7th year onwards. Such withdrawals must not exceed 50 per cent of the balance at the end of the fourth year, or 50 per cent of the balance at the end of the immediate preceding year, whichever is lower. Premature closure of a PPF account is permissible only in case of death.

          1. Sandeep Kumar singh says:

            As per your response i can withdraw after 7 year means i can withdraw after dec 2015 bcoz i started my PPF on Dec 2008.

            Am i correct?

            1. Yes, but not 100% , but as per the rules only !

  92. venugopal says:

    sir
    My PPF maturity date was 1/4/2013 i have extended it for another 5 years with contribution. Now i am in need for some money for my house repair works how much i can withdraw.

    venu

    1. You can withdraw upto 60% of your total PPF amount

      1. venu says:

        sir
        Thank you very much

  93. akhil says:

    Hi Manish, Ihave a query regarding my ppf account. My account is in my home town. What i do is to send money every once in a hile for depositing. Just want to know regarding the post maturity procedure. How do post office people give the maturity proceeds back to the subscriber? Is it cheque or DD? Also since the account is in my name wil the chewue or DD be in my naem or someone from my famly can get that cheque in theri name? I do know that there is an option to transfer the account from one post office to other, but i do not want to do that.

    1. they will give you a DD or transfer it via NEFT to your account . I am not sure if it can be taken someone else account or not .

      1. akhil says:

        hi manish thanks for the response. i am actually not looking at getting it transfered to someone else’s account. i want it to specifically come to my account.

        1. That is possible ..

  94. O.V.Srinivasasn says:

    I opened PPF account on 01.09.1999 with State Bank of India. with Rs 100000 as initital deposit and i used to deposit 15000-20000 yearly in PPF account . Now i need to withdraw the money for my son’s higher education as he would be joining MBBS during June 2014.

    Pl advice whether 15 years already completed on 31.03.2014 so that i can withdraw the money now for my son’s education or will get completed only on 31.03.2015 in which case i have to wait till 01.04.2015 to withdraw the money. Your immediate reply is requested.

    O.V.Srinivasan

    1. PPF maturity date is 15 yrs from the year ending when you open it , so your openening date to be considered will be 01/04/2000 . ANd your maturity will be 01/04/12015 only .. but before that you can withdraw partially from your PPF if you require it urgently ~!

      1. O.V.Srinivasasn says:

        Thanks. manishji for the guidance.

  95. Chaitali says:

    My PPF account opened in Feb 1999 is due for maturity right now. I live in a different city now. Can I authorise someone else to close my account and remit the money in my account? Any mail id I need to write to?

    1. I think its possible to authorize someone to claim your PPF , but better get clarity from POST OFFICE itself, file a RTI if needed

  96. PAWAN JAJODIA says:

    Dear Mr. Manish,

    My query, My PPF maturity date was 31st March, 2014 but I not yet received the refund from bank. Will I get Interest for the late payment.

    1. Yes you should , but have you applied for Withdrawal ? It does not happen automatically, you need to apply for it !

      1. PAWAN JAJODIA says:

        Dear Manish,

        I was applied for withdrawal but and send my man for the same also but till date I not received the money.

        Please let me know what I have to do for geting Interest for late payment.

        Regards

        Pawan Jajodia

        1. Did you go directly to the branch , I think your signature would be needed there ..

  97. O.V.Srinivasasn says:

    MY QUERY

    Dear Sir,

    I opened PPF Account with SBI on 01.09.1999 at Belgaum . I approached bank for withdrawal on April 21.04.2014 as 15 financial years gets completed on 3103.2014 but the SBI manager says i can withdraw after 01.04.2015 as 15 financial years years gets completed only on 31.03.2015. Pl guide and advice me.

    Regards

    O.V.Srinivasan

    1. Yes, thats correct, the maturity amount is always , ALWAYS on April 1st !

  98. Rupesh Shah says:

    In my mothers ppf a/c my father is the nominee. I was not aware of this fact. At present both my father & mother has expired. The amount is below two lacs. How can I claim the amount as I am the only legal heir ? Please advise.

    1. Read this first https://www.jagoinvestor.com/2012/04/joints-accounts-nominations-will.html

      You will now have to do some run around , bringing the succession certificate .. talk to lawyer

  99. sumit bhattacharya says:

    I want to know that if ppf a/c holder wants to close ppf a/c after 15 years from the date of first initial subscription writing in plain letter to branch manager that proceeds of the maturity of the ppf a/c maintained in his branch may kindly be transferred to the savings a/c that is maintained in the same branch, can branch refuse on the ground that only through form ‘C’ to be applied.
    I want to know that for withdrawal form ‘C’ is required.
    Please enlighten me

    1. The withdrawal has to happen only as per procedure !

  100. aarti says:

    Hi, I have deposit Rs.45000/- today (on 3rd April). If i deposit more Rs.45000/- tomorrow (on 4th April). Will i get the full month interest on combined amount of Rs.90000/- which i deposited in two parts. Pls. reply fast as i have only 1 day to invest before 5th April. Thanks

    1. Yes, you will get that !

  101. Aparna says:

    Even if I dont say my plans are cancelled, I think they cant deny me a chance to open, because I am currently resident and they cant do anything right?
    But I am also worried if their s/w can have bug and reject when I try to invest. The linked savings account is a joint account where primary holder is my mom, who will still be resident. So, savings account will remain domestic account right? I think NEFT from that will happen smoothly.
    -Aparna

    1. YEs they cant stop you ..

      As far as I understand, when you become a NRI , each saving account should be converted to NRO by you as per law.

  102. Aparna says:

    Hi Manish,
    We have plans to move abroad in another 6 months and I am trying to open a new PPF for my daughter (minor), as mine will mature when I am NRI and so I cant make contributions after that.
    When I told SBI, they asked me why I want to open in her name, I said this and they are telling that anyway once I am NRI, I cant contribute any money to PPF. It’ll remain dead till maturity. Even after I come back and become resident again I can not contribute. So there is no use opening it!!! Heights of ignorance right? I told them I know the rules and I can continue to make investments on accounts opened when I am resident indian. This conversation was on phone. They told me to come and open and they will also check with higher officials. Hopefully I am right and they are wrong. What do you say?
    Regards
    Aparna

    1. Yes , you are right and they are wrong, as per current rules, an NRI can continue his PPF or any PPF where they are guardian, I wish you had just opened a PPF account and did not discuss anything with them, if they try to impose any thing on you, then tell them your plans are cancelled and please open a PPF , Why did you take their opinion on this ?

      Manish

      1. Aparna says:

        I did not take opinion as such. It was on phone and it just slipped out of my tongue 🙁 when they asked, “Why do you want another minor account when you already have a PPF?”. In fact it was none of their business to ask that qn in the first place. One can have as many as 3 accounts, if one has 2 children. Poor me. I will tell them my plans are cancelled.
        In fact just now I checked that NRI can even continue the PPF beyond maturity without contribution. Only the extension with contribution is not possible. This is definitely a boon to people like me who plan to go for 5 yrs and come back for sure. My PPF matures in aug 2018, as it was opened in Aug 2003.
        Thanks for your reply.
        Aparna

  103. venu says:

    sir
    i have opened ppf account on 30-04-1998 when is the maturity date

    1. it will be 1/4/2013

      1. venu says:

        thanks for your reply

        1. venugopal says:

          sir
          My PPF maturity date was 1/4/2013 i have extended it for another 5 years with contribution. Now i am in need for some money for my house repair works how much i can withdraw.

  104. SK Choudhury says:

    In case of an extended PPF account after 15th year as partial withdrawal of 60% is allowed. Is it possible to deposit back the withdrawal amount at later date.

    1. Yes, you can do that !

  105. RAVINDRA GUPTA says:

    DEAR SIR
    CAN WE OPEN A NEW PPF A\C FOR HUF. SECONDLY CAN WE EXTEND THE PRESENT HUF PPF A\C .

    1. You can do that .. you can also extend the PPF

  106. aarti says:

    Thanks for the reply, Sir, i have made a deposit from Jan’14-March 2014, still i have not received any interest. When interest will be credit to me for period 2013-2014.

    1. It will come in April 2014

  107. aarti says:

    1. I have opened my ppf account on 31st Jan 2014 in SBI. What will be my financial period so that i deposit Rs.1Lac to get interest & in which year my ppf scheme will mature.

    2. Is it profitable to invest Rs.1 Lacs in one time so that maximum interest may be earned & which is the right date to invest money in a month

    3. The interest income which is earned on ppf is tax free under section 80C. As I m non tax payee, whether any form is to be filled to claim tax free interest or it may be automatically exempted from tax when ppf scheme matures.
    Waiting for earlier reply

    1. 1. Financial year from Aprl – Mar

      2. Yes, in the start of the year between 1st Apr-5th Apr

      3. Yes, It will be exempted , you dont need to do anything

  108. naina says:

    Dear Manish,
    very nice article with a detailed explanation..Thanks!!!
    Can you pls guide me how to calculate maturity date.
    Thanks again.

    1. Maturity date is 15 yrs + start of the next financial year when you opened PPF account. So if you open PPF account on 19th Sept 2013, then the next year start is 1st April, 2014 and your maturity date is exactly 15 yrs later from that date , which is 1st April 2029

  109. Apurba says:

    Manish sir
    If I extend my PPF account after 15 years with subscription option (once or multiple times) do I claim income tax deduction on the amount contributed by me in my tax returns.

    1. Yes surely. Each year, you get the deductions

  110. Guruprasad Burli says:

    Hi, I am investing Rs 1 Lac every year in PPF. At the end of 15 years from the opening of account can i withdraw the complete Rs 15 lacs+interest even though the last installment of Rs 1 Lac would be 1 yr or less than 1 yr old.

  111. Singla says:

    Hi Manish,

    My wife’s PPF account had been matured in 2012. From your article i understand that as we did not take any action so account must had been extended with the option “not to contribute anymore”. Now if I want to start contributing again into PPF account of my wife:
    – Do i need to close the existing account and open a new one? Is it even possible to close the account before 2017 i.e. 5 years from 2012?
    – If i can close the existing account; then do i need to visit the home branch where account had been opened or any SBI branch is fine?

    Thanks,
    Singla

    1. You cant close the PPF account now before 5 yrs are expired . You can now only take action in 2017 . That time you again will have option to start investment or again continue for next 5 yrs . Do not open a new PPF account , because there is no need !

      1. Singla says:

        thanks manish. and i cant even put more money into it till 2017, right?

        1. I guess YES , you cant !

  112. Manish says:

    Hi Manish,

    I have a PPF account in Post office which got matured in March 2013 at 15 years completion. I want to extend it with contribution and filled up form H in January 2014 but the person at the counter refused to extend it as it has a default of FY 2009-10. I was told about this default only when I went to extend the account in January 2014. I offered to pay INR 500 for FY2009-10 and all the penalties, still he refuses to extend. Kindly let me know what does rule say in this case and what can I do.

    Manish

    1. I am not aware exactly how it will be in this case, but I dont feel if its correct what he did . You should be able to pay the penalty and then extend it. I am not 100% sure on this. but you should have asked for the written thing from the person there . now you can file a RTI and ask for this !

      Manish

  113. Avisek Das says:

    I have PPF account in SBI . Currently i have shifted permanently to another location. Can you tell me what is the procedure for transferring the account to other bank?

    1. Its as simple as going to the target branch and fill up a transfer of PPF account form !

  114. S C BINDRA says:

    My PPF account with SBI is maturing on 01.04.2014 and I would like to extend it without any further contribution. Is there any Govt website where the PPF withdrawal rules are given so that the same can be shown to the SBI officials? I have been told that I can withdraw only 60% in one year and that I can withdraw it more than once a year. I know it is wrong but how to convince them. A letter to the bank for a clarification has elicited no response. Thanks.

    1. Actually when I wrote this article, I referred to some PDF documents at Post office website which I found by search engine . But Now I am not able to . But you always have an alternative to get this information using RTI . Even that info will be treated as proof of source !

      Manish

  115. Arpit says:

    Hello, I have a slight doubt about PPF maturity, It would be great if you can shed some light:
    – 15 years of my PPF account completed in 2010.
    – I extended the account for 5 years and continued contributing.
    – I am planning to contribute this year and next year as well.

    When the 5 year extention block finishes in 2015, I plan to close the account and withdraw the money. If “X Rs” is the balance in 2015, how much can I withdraw?

    And if the answer is not X, then when and how I can withdraw the remaining money?

    1. You can withdraw full X when it matures !

  116. Rama says:

    I have a PPF account with SBI, which was open in 29/Dec/1998. Now, i am in need of some money and would like to close the account at the maturity period of 15yrs. I have paid Rs. 1L as contribution in Nov’13.
    Questions:
    – Maturity : when is my account getting matured?
    – What is the process to close this account ?

    1. Your Account will mature on 1st April, 2014

      Just go to SBI and talk to them about closing the PPF after maturity !

    2. Apurba says:

      Sir

      How did you close the PPF account, can you elaborate the process.

  117. subhash mittal says:

    which option will give me more return at maturity-
    if i deposit Rs 60000/- anually one time as lumpsum OR if i deposit Rs 5000/- each month (12 times a year)

    1. If you deposit 60000 in the start itself , then its going to give more interest, but if you are going to deposit at the end, then the second option will give more

      1. subhash mittal says:

        Thanks for ur reply Dear Manish

  118. subhash mittal says:

    Thanks alot Mr.Manish for your reply

  119. Subhash Mittal says:

    Dear Manish,
    I opened PPF account in post office in FY 2007 and in year 2013 i got transfered this account in SBI,so my query is the maturity time span would be 15 years from the year of opening the account in postoffice that 2022 or it would be 2028 (FY of trancfer of the account in SBI and
    How SBI would come to know that mine account was opened in 2007…whether Poast Office will inform the bank or i have to submit any document to bank to tell it that i had opened this ppf account with postoffice in 2007….Pls.Clarify.
    Thanks
    Mittal Subhash

    1. It will be 15 yrs from the original starting date. All the info is shared from post office to bank , do not worry on that !

  120. harishj says:

    I have PPF account with SBI opened in Gurgaon branch of SBI. If after 15 years, I am in some other part of India, will they ask me to visit the home branch to get it either extended or withdrawn? or it will be possible to visit the nearest SBI branch and get it done?
    And what if I am outside India?
    If there is a need to visit the home branch in 1st scenario (if I am in some other part of country) and there is a need to visit the branch (in case I am outside country) then is it recommended to shift the account to ICICI who is much more customer friendly and have no such requirement?

    My PPF account in SBI is linked to my savings account in SBI. Will the proceeds come directly in my savings account?

    Harish

    1. Hi Harish

      I dont think you have to visit the branch for this . I think the staff there needs to be shaken up a bit . Please tell them on email that you are filing a RTI on this and also complaining to banking ombudsman . Ask them to give you the things in writing and show you the rules book .

      Manish

    2. Apurba says:

      Sir

      Did you succeed in withdrawing from other branch or you had to visit the home branch for withdrawals.

  121. Rishi Desai says:

    Very informative for a beginner like me.

    Thank you so much Manishji for sharing this.

  122. Dr Manisha JP says:

    My ppf aCCOUNT OPENED ON 04 aUG 1987 WAS further extended for 5 years then again 5 years. My balance on 31 March 2013 was 30 LACS. i HAVE PAID ANNUAL CONTRIBUTION OF ONE LAC AND AGAIN EXTENDED FOR THE THIRD TIME FOR 5 YEARS UPTO MARCH 2018 What is the maximum onetime partial withdrawal allowed in entire 5year period . Will it be calculated as 60% of 30lacs as on 31 March 2013 OR BALANCE ON 31 mARCH 2014 OF 33.5 LACS

    1. Your total amount available to withdraw will be 60% of balance , now if you have taken out anything in these 5 yrs, rest balance will be available

      1. Dr Manisha JP says:

        Dear Manishji, Thank you for the information. Is 60% permitted partial withdrawal of balance at commencement of the 5 year extension?

  123. hellosibba says:

    I have opened an PPF account (in SBI) in beginning of 2008. now i am in verge of immigrating to another country forever. Can I close the account ? is there a way out.
    I have closed almost accounts here in india. Now it will become pain to maintain. Also i have quite some amount in this account.
    What is the best way to get it closed, even if i have to pay any penalty to government.

    1. As far as I know, there is no way . Try out forum for solution – http://www.jagoinvestor.com/forum

  124. Jipal says:

    I have a PPF account which has completed 15 years in 2010. After that it has been extended and I have done some partial withdrawal in 2012.

    Now I have taken a home loan, I want to do prepayment using that money. But as per bank, my PPF account is now under 5 year lock period, so can neither withdraw any amount nor close the account until 31st March 2015.

    By any chance any other way to get the money from PPF account.
    Thanks !

    1. You can withdraw only upto 60% of the maturity balance . Not more than that !

  125. Liyakath says:

    Hi,

    Great Information.
    It is 7th year that I started to contribute in post office PPF. My doubt is, lets say I go for partial withdrawal option in the current year. How this impacts the maturity amount at the end of 15yrs.

    Thanks
    Liyakath

    1. just that your money in PPF will reduce by this much amount .

  126. Soma Mukherjee says:

    Hi,
    It’s a amazing article,from which i came to know a lot about PPF a/c.But here one question arised is a nominee can continuing operate the ppf a/c same like after the subsciber’s death or he has to close the a/c?

    1. Soma

      Nominee cant continue the PPF account, they have to close it !

  127. Parveen says:

    Hi Manish,
    I have PPF a/c with IOB which I want to transfer to ICICI. I hold different signatures with both banks. Will it be an issue while transferring my PPF a/c.

    1. I dont think there should be any issue in this !

  128. sonu sikarwar says:

    I opened PPF account on 03 april 2013.when will be its maturity date???

  129. PRADEEP JOHN says:

    Thanks for sharing. I have a 6 month child. If I contribute to PPF for 15 years as guardian. After 15 years still my son would be a minor only. What will happen during maturity.

    1. So what, you can still withdraw it as guardian

  130. Manoj Chouhan says:

    Dear sir
    i have PPF a/c stated from 7/1998 so as per norm a/c is due for payment, i approach to bank for closed the my a/c bank are reply u can not closed the a/c actual rule is 15+1 year= 16yrs pl inform me what s correct

    1. Yes, thats correct . The open date for you will be 4/1999 . so it will be 4/2014 when you can close it

  131. janhavi shete says:

    hi manish
    my sister is working in college as lecturer frm last two years.so nw she want to leave her job. in every month sme ammount cut off frm her salery.so nw tell m hw to withdraw d money frm tht account

    1. She has to fillup a EPF withdrawal form ..

  132. A Syal says:

    Hi Manish,
    I had some queries on the ppf account. I opened my account in sep 2007. Considering this information
    1) what would be the year of maturity? Will it be March 2022 or March 2023?
    2) Also after maturity I would like to close this account, since I can invest the maturity money some place else. Wat is the procedure for the same?
    3) Post maturity once the application for account closure is given to post office, how much time it takes for them to settle the account?
    4) Does the post office people give a cheque in the name of the account holder or do they do a direct credit into the S/B account of the account holder? I know for PF withdrwal now days PF department credits the S/B account directly.
    Please advice me on these areas.

    1. 1. 2023

      2. You can get your PPF money transferred into your bank account

      3. No idea on that , but it should not take more than few days

      4. A direct debit should be possible

  133. SUMIT DEB says:

    Hi Manish,
    Simply a superb article for a newbie investor like me. Congrats!!!
    I had opened a PPF Acc. on 22-Sept-2012.
    1)What will be the starting date of my Acc.? (Is it Mar2013?)
    2)Which year will the Acc mature?(2026 or 2027 ?)
    3)Which is the best way to invest in PPF? – lump-sum on April 1st every year or a regular monthly investment?

    1. It will be mar-2013 , but only for considering the maturity date .

  134. Sunita says:

    Hi Manish,

    Great article. Thanks.
    One basic question however regarding determination of the first maturity date of a PPF a/c. I opened my PPF a/c in FY 1998-99 and 2012-13 is the 15th financial year since then, 98-99 being the first one. I assume that end of 15th FY i.e. 31-Mar-2013 is when my PPF a/c matures. Kindly confirm.

    Thanks and Regards,
    Sunita

    1. The starting date for your PPF will be considered as the 1st april of the next year when you opened your PPF , so if you opened it on June 1999 , then your opening date is 1st apr 2000 .

  135. I have opened the PPF account in 1990. After 15 years I opted for further extension.
    As on date also I am continuing, it is 23 years. Kindly let me know the rules. I want to continue for 2-3 years more.

    1. Mayank Saxena says:

      As I can read from Manishji’s article, it is extended in batches of 5 years. So if it is continuing, it should continue till 25 years. After that 25 years, you would have an option to withdraw all, or continue without contribution or continue with contribution. Am I right Manishji?

    2. You have to continue in block of 5 yrs only , not 2-3 yrs

  136. AMAR KUMAR GHOSH says:

    DEAR MANISH,
    MATURITY DATE OF MY PPF A/C IS 31/03/2014. WHEN I HAVE TO APPLY FOR EXTENTION FOR FIVE YEARS WITH CONTRIBUTION?

    1. Do it after maturity itself !

  137. Kavita says:

    Hi Manish

    I already have a PPF account. Can I open one PPF account in my daughter’s name also, who is 5 years old??

    1. YEs , as a guardian

    2. Kavita says:

      so, in that case what will be tax calculation, whether interest earned on that minor’ PPF account will be taxable.

      1. No it will not be . PPF is totally tax free

        1. Kavita says:

          Manish, just to reconfirm, If I open one PPF account in my daughter’s name as a guardian and one account I am already holding, so in total I can deposit 2 Lakhs max, 1 Lakh in my account and 1 Lakh in my daughter’s account.

          1. No , your cant deposit more than 1 lac, the total has to be 1 lac only .

            1. Kavita says:

              So in that case no benefit of opening second account, as I can save in my account itself.

            2. Lalit Mendiratta says:

              I am not sure if this is correct. As per my info you can open the ppf account for your minor child and deposit full 1 lakh in their account besides the 1 lakh that you will deposit in your own account. Each account will earn its tax free interest.

              However you can claim tax benefit under 80C for a max of 1.0L only

            3. Yes you are correct . I found out later that what you are saying is right

  138. Reena says:

    Hi Manish,

    My PPF got matured after 15 years and I forgot to fill form H. As I understand in this case the account by default gets extended without contribution for a block of 5 years. Now after this first block of 5 years is over can I convert it back to account with contribution for the next 5 year block by filling form H?

    1. Yes. . once those 5 yrs is over, now its a fresh start .. now you can do what you want !

      1. Reena says:

        Hi Manish,

        Thanks for the prompt reply.

        My account is with SBI and honestly there are not many who understand the PPF rules thoroughly.

        So is there any such written part in the PPF rules which confirms that after 5 years of non contribution the account can be changed to contributing again. This will help me in convincing the SBI guys.

        Regards

  139. Arvind says:

    I have a PPF A/c with SBI since 1995-96 (July’1995 to be precise). When I went to deposit money this month, I was told that the account had matured in 2011 and now cannot be extended. But I was allowed to deposit money in 2012 as well. So my queries are
    1) As the deposit was allowed in 2012, after the maturity in 2011, doesn’t it means that the account has been extended or shouldn’t the extension period be upto Mar’2013 that 1 year from the last deposit?
    2) Because of the benefit of tax free interest, I do not want to close my existing account. So can this account continue as one without further contribution and for future investment open a new PPF account?

    1. You actually had to fill up form H if you wanted to keep it active with contribution .. Now your account is extended “without contribution” .. so you will have to wait for 5 yrs now , if you want to again deposit something there ! .

  140. Biak says:

    Hi Manish,

    I have a query too, see ma sister has a ppf acount and had been deposited for the past 2years, bt now as she went to our native place she stopped depositing the money,can she withdraw the full amount? will there be any deduction? can she withdraw from Manipur itself or she have to withdraw anyhow from the branch where she opened the account??

    1. She cant withdraw before 15 yrs !

  141. m k says:

    Nice article. I have a question –

    My PPF account is about to mature (15 yrs) on 31/03/2013. Can I invest 70,000 as tax saving for FY 2012-13 on 25/03/1013 and then close the account and withdraw entire amount on 31/03/2013 ?

    Thanks,
    MK

    1. No you cant do that.. once you invest in that account again , then it will be “with contribution account” and it will be locked for another 5 yrs ! ..

  142. Ujjwal says:

    Dear Manish,
    Thanks for your nice article. One think I would like to know that If I choose PPF without contribution then after 5 years can I opt for PPF with contribution. As you have said that reverse one is possible pls let me know the answer for the 1st one.

    1. Yes thats possible in next extention !

  143. Yogesh says:

    Hi Manish,
    Must compliment you on an excellent article throwing much light on PPF operation.
    A month back one of my acquaintances tried to close his a/c & encash the amount. This a/c was transferred from SBI Nariman Pt. Br to Andheri Br. The officer told him that he will only get the amount available prior to the previous two 5-yr extensions ! Is there a specific rule in the PPF Act which we can quote to the SBI person to remove this faulty impression from SBI official’s mind so that my friend gets his full entitlement from the PPF a/c ?
    Thanks very much.

    1. The first question is “Why he will get lower amount” ? What is the explaination for that ? I suspect that there was no form H filled up which is to be done if one wants to contribute into PPF account after maturity ..

      1. Yogesh says:

        Thanks for the prompt reply.
        Pl inform what is form H ? Shouldn’t SBI have informed my friend about this requirement while accepting contributions for 10 years ? Is there any way that Form H can now be filled in?
        Would appreciate v.much if you could enlighten on this aspect.
        Thanks once again.

        Yogesh

        1. Form H is filled when you want to continue your PPF for another 5 yrs ” with contribution”

  144. Kumaresan says:

    Awesome article!

  145. NAVIN says:

    Sir
    I am from Punajb. I opened a PPF account for my son when he was minor and was residing with me here in Punjab only. Now my son is major by age and has shifted to Gujarat for his studies. The original account is without the middle name but now as he has shifted to Gujarat and according to their culture he is writing father’s name in the middle. All his documents like passport, PAN bear his name with father’s name in the middle. Now my query is to whether his name can be changed as per current in his already existing account or I have to close that account and open a new account. Doing so will be a loss in the form of non taxable interest he is earning right now……..pls advise.

    1. It should not be a big issue … even though the name on his documents containing father name as middle one, its fine .. what matters is that he has his FIRST name and the surname in the documents !

  146. Shankar Singh says:

    Dear Manish,

    I was open a PPF A/c on 2008 , now (feb-2013) I want to close this A/c permanently , Is it possible ?

    Please reply

  147. sevan says:

    Hi Manish,
    Thanks for the information.
    One query. In case i deposit 1 lac every year for 25 years what will my final sum be? (considering that I invest every year on april 1st and i do not make any withdrawals. Also presuming current rate of interest to prevail throughout). Is there any calculator in your website to calculate this?

    1. There is no calculator for it, but why dont you use a rough estimate . just calculate it on the basis of 8.8% per year. Do you know the formula ?

      1. sevan says:

        No. Even I don’t know the formula. Hence thought if you can help me out.
        Thanks.

  148. abc says:

    Someone tries to pick hole in one crore example. Well, if you live up to 150 years regularly depositing the maximum from when you are 2 years, you will be shocked as to spend all those crores! THe Guru is always wise.
    Jokes apart, the column is excellent.

    abc

  149. navin kumar says:

    my ppf account in sbi is 10 year old. can i wirthdraw amont in march2013 (as per my eligibility)and later in April2013((as per my eligibility)

  150. nisha says:

    i hav 2 ppf account .one mine and other minor (son ).i took tax rebate by one only.
    i renewed my ppf for 5y,but mean while i want to close it..can it be possible??…pl.
    suggest some idea….i read some your reply regarding 2 ppf ac.,bank suggest me to open ac.for minor…is there any problem if????wht should i do???

    1. You can claim tax exemption upto only Rs 1 lac on ppf accounts

  151. DB DESAI says:

    Any circular reference giving clarification on the issue of payment of interest at the time of withdrawal of matured ppf account after 15 years? SBI says interest can be paid in March only. I think it should/is paid till the date of withdrawal and closing of account. Customer does not want extension, contribution etc. He has completed 15/16 years in March 2012 and wants to withdraw full balance in say NOV 12. I think he should get interest from April 12 to Nov 12 (actual date of withdrawal). Please quote some reference of circular regarding this issue.

    1. Yes he should get the final settlement , you dont need circular on this 🙂 .. its common sense . Is SBI saying that you will not get the interest at all ?

  152. Dr.Dilip Italiya says:

    GRT…NOW SURPRISED VERY GRT FACTS ABOUT PPF… THANK YOU MANISHJI

  153. Loknath says:

    Dear Sir,
    I had opened a PPF a/c in Mumbai on April 1993 for 15 years and then extended for 1 block of 5 years. Considering one year locking period, I believe that the maturity would be on April 2014 (20+1) year. Is it correct. Or It is April 2015 (i.e. 15+1, +5+1) i.e. after 22 years. I look forward to your confirmation.

    Regards
    Loknath

    1. Yes, you have extended it for 5 yrs block, so now the maturity will extend by 5 yrs .. so it would be April 2019

  154. KGV Prasad Rao says:

    Hi Manish,

    I Opened a PPF account with SBI on 30.03.83 and maturity date is 1.4.98. I extended the a/c for 5 times and now the marturity date is 30.03.2013. I have withdrawn Rs 1,45,000 on 18.07.2011 (60% of the bal in a/c). The present balance in my a/c is Rs 3,25,000. Now I want to remit Rs 50,000 in Mar 2013 and get exemption under Sec 80C of IT Act. Shall I withdraw the entire amount in Apr 2013 and close the account ? Am I in order ? Please advise…………..

    1. If you are due for new extention , then you can take full amount, if you deposit anything in new extention , then again you will be able to take only 60%

  155. kirty says:

    hey wonderful article on the subject Manish. It answered all major doubts on the subject.

    1. Good to hear that 🙂

  156. Dear sir,
    On 28th December I have withdrawn the amount Rs 29000.oo only according to their rule on balance which was 5 years back i.e. 31-03-2007 that time my balance was Rs. 58179.52. In this regard kindly send me the present rule so that I can show them for confirmation.
    Thanking you.

    Prakash Ghosh

    1. But what is the problem in your case ?

      1. Dear sir,
        I applied for partial drawn of Rs.75000.00 only.But SBI Tura BR. allowed me Rs.29000.00 only.According to your earlier reply I should be allowed 50% of my balance which was 2 years back that time my balance was Rs.122968.00. For this reason I wanted to know what is the actual rule for withdraw of the money.
        Thanking you.
        Prakash Ghosh

        1. Yes, thats the rule, ask them why they are not allowing you that much , also take help of RTI if needed

  157. Dear sir,
    I have a PPF a/c No.10949651042 with SBI Tura Branch opened on 28-03-2003. And present balance in my a/c is Rs.158677.52. Now I like to draw a partial amount. How much can I withdraw? And what is the current rule let me know.
    Awaiting for early reply.
    Thanks.

    Prakash Ghosh

    1. You can withdraw minimum of 50% of your balance which was 2 yr back balance your last year balance .

  158. MK says:

    Hi Manish,
    it is really useful article, going through the article and many comments, now I am wondering whether the interest calculated on my PF account and advise given by post office is indeed correct. Need your expert advise. ( sorry for the long comments but I wanted to provide the complete information!!)

    I have a PPF account opened in Aug 1998 with following contribution history for first 2 years.

    FY 1998-99 , INR 1000, 14/Aug/1998
    FY 1998-99 INR 25000, 05/Sep/1998
    FY 1998-99 INR 25000, 18/Jan/1999
    Interest calculated by post office for FY 1998-99 INR 2070.

    FY 1999-00 , INR 25000, 19/Jul/1999
    FY 1999-00 INR 20000, 27/Sep/1999
    FY 1999-00 INR 5000, 13/Nov/1999
    FY 1999-00 INR 10000, 01/Feb/2000
    Interest calculated by post office for FY 1999-00 INR 9473.

    with respect to the above I have the following questions.

    1. Post office advised me that my PF account will mature in Aug 2013 and I should be able to withdraw whole maturity amount in Aug 2013. By going through your post and comments , it seems it will mature only on 31st Mar 2014 and I would be able to withdraw the amount on or after 31st Mar 2014. Which one of this is correct ?

    2. Is is the interest calculated by post office is correct for FY1998-99 and FY1999-00? Again based on the comments and post, I calculated these as follows.
    Interest FY1998-99 INR 2320 ( I have taken interest rate as 12% for the whole year)

    Interest FY1999-00 INR 9766 ( I have taken interest rate as 12% upto Dec 1999, 11.5 % for Jan 2000 as interest rate changed to 11% wef 15-Jan-2000 and 11% for Feb & Mar 2000).

    I would appreciate if you can clarify these queries.

    Thanks & Regards
    Manish

    1. MK

      For the point 1, its Mar 2014 . For now its not possible for me to give you answer on 2nd and 3rd, better use RTI to get your answers

  159. Vaibhav says:

    @Saurabh – Yes, you can vary the amount you deposit in PPF every yr, based on your convenience. So the investment amounts u hv given in the above example are allowed.
    Just make sure you deposit minimum Rs.500 every yr so that the account remains active.

  160. Saurabh says:

    Hi Manish,
    Nice article.
    I would like to know whether we can vary the amount to be deposited in PPF
    each year?
    eg: say if I deposited 50000rs in first year and next year increased it it to 80000rs.
    Again decreased it to 10000 for third year.Is it allowed?

      1. Saurabh says:

        Thanks Manish.

  161. natarajan says:

    18.12.2012
    M.N.Krishnan,
    Mettur Dam.
    Sir,
    I am assessed to Income Tax.
    I am paying PPF from March 1991.
    By 2007 it was extended for 5 years.It ends by 2012,March by giving a requisition letter.
    Again by April 2012 I have paid PPF for the year ending 31.03.2013.
    Now I want to withdraw the full amount.
    The SBI officials told me that now it can be withdrawn fully but interest will not be paid because the interest is entered by 31 st of march every year.
    Now I have some doubts
    Can I close the PPF account now in the middle of a year.
    If I withdraw fully by April 2013 , whether the amount paid towards PPF during this year will be taken credit for 80-C for the accounting year ending 31.03.2013.
    Can I open a new ppf account after 01.04.2013.After closing the old account by withdrawing full amount.
    I want the entire amount for paying a loan.
    Further can I invest more than one lac per year.Is there any limit.Will interest will be paid for the payment morethan one lac.
    Apart from my PPF account can I open PPF accounts in my wife’s name and minor daughter’s name seperately.will they fetch interest.
    How my IT assessment will affect.
    Kindly oblige me with your guidance.
    Thanking you with regards,

    1. You can withdraw full amoutn from your PPF only at maturity now

    2. natarajan says:

      sir,thanks for your prompt reply

  162. Narendra Shah says:

    Dear Manishji,

    My son have PPF account with 2 time extension period of 5 years.He can withdrw 60 % of his total investment.Now 2 years are remaining for his maturity.Can he elegible to withdraw total amout before maturity period?
    Awaiting your reply soon.Regards
    Narendra Shah

    1. No , he can only withdraw 60% before maturity . Only when the PPF matures , he will be able to withdraw fully !

      1. nikhil says:

        hi manish,
        i have a ppf a/c which got matured on 01/04/2012.i have not filled form H & contributed further in between april 2012 to december 2012.now i would like to know that would i be able to claim the deduction under section 80C on the contribution made in between april 2012 to december 2012 & further what would i have to do to extend my account further for a period of five year keeping in mind that i have made the contribution without filling form H.

        1. Yes, you can avail 80C benefit !

  163. Harpreet Kaur says:

    Amazing piece of information. Thanks you so much….

  164. varun says:

    Hello Manish
    Can i deposit unaudited cash in my ppf account?I mean..da cash which i have not withdrawn from my bank account and is not from CASH IN HAND..?

    1. I still dont understadn what you are saying ? You mean through cheque ?

  165. Sharad Agrawal says:

    Hi,
    As PPF account matured in 15 years. If I extend my PPF account for the next 5 years. Then the interest earned during 15-20 years of my PPF account will be taxable or not?
    For ex: I invest Rs. 50000 per annum for the 15 years then my maturity amount after 15 years will be approx. Rs. 1545054.00. If I extend my PPF and also invest Rs. 50000 per annum for the next 5 years. then the interest earned on my PPF account during 15-20 years will be taxable or not?

    1. It will not be taxable !

  166. ravi says:

    Dear,
    My PPF account matured in August 2012, now can I get at-present matured amount or after 31 march 2013

  167. Sunny Gill says:

    I would like to open a PPF account in my and my two childerns name (i.e 3 accounts). Can I deposit Rs 1 Lac in each account or is they a limit of Rs 1 Lac that has to be split into the three account (i.e Rs 33333/- each per yr).

    1. The limit of 1 lac is combined, you cant invest more than 1 lac in total , you can do one thing , open a child account with your wife as the guardian and then invest in that

      1. Sunny Gill says:

        Thanks for your reply.
        So what you are saying…
        1. I can invest 50000/- per year in my PPF account.
        2. Plus 50000/- in one of my childerns account (me being the guardian)
        3. Club the the second child with my wife so she can invest 100000/- into the
        second childs account.
        Is that what you advise…..

  168. naresh bhadiyadra says:

    I have a PPF account with SBI from Feb 91. It was due to mature in Mar 06, when I got it extended for 5 years till Mar 11. In Mar 11 I forgot to get it extended. Two days back when my cheque for PPF subscription was returned by the bank, I came to know about it. How can I get it extended now ? Last year my subscription was accepted by bank in Mar 12 and was also given the intrest till Mar 12. What about the intrest from Apr to Oct 12?

  169. naresh bhadiyadra says:

    Dear Sir,

    I had opened the PPF account with SBI in FEB 91. It was extended for 5 years on maturity. Last year I forgot to inform the bank to extend it further. Today when I deposited the cheque in my PPF account it was returned with a note that the account has matured. Can u please guide me so that I can put my case with the bank
    1. Whether the PPF accounts are extended by default ?
    2. Can I claim the interest on PPF for last one year?
    3.Can the same account be extended at a back date?

    Regards

    Naresh

    1. By default it gets extended atleast after the 15 yrs maturity, but I am not sure if it automatically extends after the extended period .

  170. Arati says:

    Hi Manish,

    Thanks for sharing the info. I hve one query.
    I have to open a PPF A/c. Can u suggest which one is better PO / SBI or ICICI.
    I am little confused. I find ICICI – online banking more convenient but at the same time I am not too sure of the service or reliability as this is for long run.
    So what would you suggest.

    Regards
    Arati

    1. I think you can open it in ICICI bank

  171. Y.S.R.SRINIVASULU says:

    I OPENED A PPF ACCOUNT AND COMPLETED 15 YEARS ON 01.04.2011. BUT I PAID THE SUBSCRPTION FOR THE 16 TH AND 17 YEAR ALSO. I HAD NOT GIVEN ANY FORM H. NOW I WANT TO CLOSE THE ACCOUNT. PLEASE FIND SOLUTION.

    1. You can withdraw only 60% money in the extention period .

  172. Harmit says:

    I have a PPF account with Post office that ended on March 20, 2011. I was not aware of the partial withdrawal facility and decided to continue without contribution. However it recently came to my knowledge that I can contribute as well as withdraw upto 60% during the block of five years. I wish to contribute now would it possible for me to continue with contribution, penalty etc?

    1. You can do that only after the first block of 5 yrs .

      1. Harmit says:

        Thank you for the information. This means I can deposit in 2016-17; will I have to pay any penalty and minimum deposits for the previous block?

      2. Harmit says:

        I hope I have also understood this correctly that as I have neither informed PO or filled any form, my deposits are incurring interest and I can withdraw as much as I want in the current block of five years.

        1. Harmit says:

          * earn interest.

  173. Babita says:

    Hi Manish,
    Its great to get all this information in so detail.. I appreciate your dedication..

    I want to open a PPF account.
    1. I heard that the PPF maturity amount can be withdrawn only from that place/branch of the bank where you have opened it. Is it true?
    2. Is it necessary to have an account in the bank where you want to open a PPF account?

    1. Babita

      I guess the first one is true ! . I will have to investigate more on this .

    2. jains says:

      #2 Its not necessary to have account in the bank where you have PPF account. I maintained PPF account at SBI without a savings account

  174. Karthik says:

    hi manish, gd mrng.
    i have a NRI account opened when i was in dubai before 5 yrs, later i went back to india to work. i worked in india for last 2 yrs. now again i came back to abroad for 6 weeks work and 2 weeks off rotation job, i’ll come to india. but still i’ll consider as NRI i think. my family is in india only.
    1. is it possible for me to open a PPF account in my name?
    2. If not possible, then is it possible on my 7 months old daughter name and myself as guardian?
    what is the possible solution to contribute in PPF account. please suggest.

    1. Karthik

      Yes, you will be NRI only as per definition and in this case you cant open PPF account, I am not sure if you can be guardian or not , better ask it on our forum https://www.jagoinvestor.com/forum/

  175. DR JAYESH says:

    Dear Sir, PPF account was not renewed after maturity in 2006! However money is deposited and interest paid till year! Bank does not have a clue what to do in this situation! can you guide me.

    Regards

    Dr Jayesh

  176. Kirpal says:

    Hi,

    I had a PPF account, which finished 15 years in 1983, and i extended by a block of 5 years as per bank instruction, and then i closed the account in 1988.

    since then, i have not had any ppf account in my own name. my daughters who were minors have become majors so their accounts are now in their names.

    can i open my own ppf account?

    is it possible to open an account after it has matured and also been closed already?

    Request you to please advise me

    Thanking you in advance,

    Kirpal

    1. You will have to open a Fresh PPF account, you cant open a old account which was closed

  177. Raj says:

    Hi,

    First of all, a big Thank you as you have saved me from standing in a long queue in SBI to get the same information , and perhaps inaccurate as you had also said, about the PPF maturity and it’s continuation.
    However I still have question and hope you will reply to me 🙂

    After the maturity at the end of 15 years, shall I have to put an application to request for an extension of an another 5 years or will it get extended automatically?
    Thanks,
    -Raj.

    1. It will get extended automatically, but that will be by default “without contribution” option . If you want to make more deposits, you will have to fill up a form

      1. DR JAYESH says:

        Dear Manishji,
        If the account is renewed by default and money is accepted and deposited without any forms filled, what is the solution? Bank has accepted the deposits year after year and accumulated interest since year 2006 without any forms filled. Now the bank has no clue what to do?
        Can you advice?
        best wishes and gratitude

        Dr Jayesh

        1. Is the money credit shown in your PPF passbook or not ?

          1. DR JAYESH says:

            yes money and interest credit is regularly updated in my pass book!

            1. In that case , you should pursue it with Post Office, may be post a RTI query on this to know what exactly will happen now . Also start a discussion thread on our forum – Thttps://www.jagoinvestor.com/forum/

            2. DR JAYESH says:

              Account is with the State bank of India. Many thanks for your prompt attention. Gratitude. Dr Jayesh

  178. shailesh says:

    hi Maneesh,
    please clerify on following
    1) can i start PPF for my 4 year old son and 2 year old daughter separtely
    2)what if i will pay Rs.1L for coming 5yeras only for them and after i stop paying what will be an impact by end of 15 th year or is it allowed or viable
    3)can i start PPF account for my wife though she is dependent
    4)what if i will invest Rs.1L per annum only on my name for coming 15 years what will be cummulated amount with an intrest
    thnx

    1. 1. Yes, but total contribution cant be more than 1 lac including yours PPF
      2. You can do that, but min 500 you have to pay in both PPF
      3. No , you cant do that, the PPF has to be opened by her
      4. You can use this calculator – https://www.jagoinvestor.com/calculators/html/Increasing-SIP-Calculator.html

  179. Pratik says:

    Hi Manish,

    I have a question regarding the PPF account.

    what should i do if my PPF account is matured , let say 15 years are over and the 16th year is going on with outstanding amount as say 15 lakhs. now i dont want to make contribution to this account as i am expecting to withdraw this entire amount (15 lakhs) in another 1-2 years. Also i have current income which i want to pump into PPF in say Rs 1 lakh every year. but i make contibution to this account it would get extended for another 5 yr and i would only be eligible to withdraw upto 60% ( 9 lakhs). to tackle this

    can i open another PPF account in my name wherein i can make fresh contribution with a lock in period of 15yrs? and still maintain my previous account without any fresh contribution but let it earn interest?

    I have option to move 15 lakhs to an FD but it would attract income tax which i am trying to avoid

    1. You cant open two PPF account in parallel , If you are so sure that you would like to withdraw your money in next 1-2 yrs , in that case just withdraw from PPF , and put the money in bank account. Or choose to not put any more money in next 5 yrs and let it continue without contribution . keep your 1 lac per year in a FD for next 5 yrs, this way your money will also be invested (not in ppf, but atleast in FD) and you will have the freedom to choose to withdraw from PPF fully anytime you want.

      Moving your PPF amount to FD will not attract income tax, the income which is earned by FD ,that would be taxable , but thats the only way you can acheive this.

      Manish

  180. Santosh says:

    Dear All

    What happens if I do not deposit PPF amount for 1 year due to financial problem [not even the minimum contribution] – will there be any problems at withdrawal/maturity/extension?

    Can I deposit 2 years contribution in coming year

    1. Santosh

      you account will be inactive, but you can deposit 2 yrs money later with a penalty of Rs 50 for each year of non payment .

  181. Surendra says:

    Hi Manish,
    I have one question and i didn’t get answer from google. Hope you could help me.
    Question:
    On maturity of PPF account do i need to visit the same branch or Post office for withdrawing the amount? or we can withdraw the amount from any branch?

    I mean same branch means the branch that we opened the PPF account.

    Ex:- Opened my PPF account at ICICI bank, Pune, Bund graden branch do i will be eligible to withdrawn maturity amount from any ICICI bank branches accross India or i need to visit ICICI bank, Pune, Bund graden branch?

    Thanks In Advance,
    Surendra.

    1. As of now what i know with SBI is that you can withdraw it from same branch , but it might be a SBI issue , with ICICI it might not be the case, but you can apply for withdrawal and the money can be transferred to your account, you dont need to be present there !

      1. Surendra says:

        Thank you Manish for the reply.

        This is very good site for financial matters and information. And also we can except quick reply on same day itself by experts. 🙂

      2. jains says:

        Fundamentally you need to deposit physical passbook (SBI) so in person visit is needed. In case ICICI is not providing physical passbooks, there is a possibility of exemption from visit to home branch — but I have my doubts

  182. Shubh says:

    Hi manish,

    Need your help. I have opened a PPF a/c with SBI and i have the online banking facility for Axis bank and i have the facility for the other bank power transfer also in Axis bank. So from Axis bank online banking i can transfer amount to any other bank a/c but not sure if i can transfer amount to the SBI PPF a/c.
    Till date i had transferred into saving and salary account through the online banking.
    Please let me know if i can transfer amount from axis bank online banking to SBI PPF a/c

    Regards
    Shubh

    1. Mostly you should be , many people have done that, whats stopping you from TRYING this ?

      1. jains says:

        I have transferred online from Citibank to SBI PPF account online. If I remember I had marked account type as savings wherever it was asked during payee registration

  183. Subh says:

    Hi manish,

    Could you please let me know the following
    1) if the matured amount from PPF is tax free as the the matured amount from FD isn’t.
    2) which one would be the best to open a PPF a/c, SBI/PO?

    Thanks
    Subh

    1. Subh

      1. Tax FREE

      2. No difference from PPF point of view, but investing in SBI has its own advantages like online investing

      1. Subh says:

        Thank you manish.:)

  184. Hardik says:

    Nice article its very thankful.

  185. S.Prakash says:

    Dear Manish,

    Thanks for the very informative article. I think this is an A-Z article on PPF. I have a ppf account in SBI. Whether I can open a PPF a/c in my wife’s name and contribute to it.

    1. You can open a PPF on your wife name, but the payment has to be on her name only

  186. Saurav Bagchi says:

    Hi Manish,

    Suppose I want to invest 1 Lakh in PPF per year. If I make this invested within first three months of a financial year(April, May, June) or within last three months of a financial year(Jan, Feb, March).. will the interest earned for that financial year will be same in either cases?

    I have heard that the PPF investment needs to be done before 5th working Day of a month so that the interest for that month is calculated/taken into account.

    1. You should do it in starting months , you can read in detail how the interest in calculated on PPF here – https://www.jagoinvestor.com/2012/02/how-ppf-interest-is-calculated-video.html

      1. Saurav Bagchi says:

        Thanks a lot Manish. This information is very useful to me.

  187. vinod says:

    Hi Manish, just following the PPF thread here, very informative.
    i came across this website- link-http://www.investmentkit.com/government/ppf.shtml

    here it says that a nri can open a ppf account. pls give your inputs on this.
    i am not a NRI but just work overseas and get my salary in dollars. in NRE account.
    can i open a ppf account?
    pls advice
    thanks
    vinod

    1. Vinod

      PPF accounts can not be opened by NRI’s , they can just invest in their already opened PPF account. I dont think the information on the link given by you is correct !

      I am not clear about your status , when you work overseas and get your salary in your NRE account in dollars , then how are you not NRI , are you saying that you are in india physically ? If that is the case then your income is taxable in India .

  188. Ashutosh Goel says:

    Great information Manish. thank a lot

    1. Thanks Ashutosh !

  189. VIJAY says:

    Nice article
    I have read following article one of the leading english newspaper few months back

    “Procedure for post-maturity continuation of an
    account
    There are a couple of formalities to comply with
    for declaring your intentions regarding post maturity
    continuance.
    You will need to submit Form-H to declare your intention
    of continuing the account with subscription
    for each extended period. It should be filed before the
    first contribution is made for the first year of extension.
    Else, the account will be treated as without-subscription
    extension.
    Fresh contributions made to such accounts will
    enjoy neither the deduction under Section 80C nor
    the interest. [MoF (DEA) 7/21/88-NS-II dated August
    10, 1990]”

    My question is
    1) is this true?
    2) if yes ,then if fresh contibustion made in extened pff account is neither going to enjoy deduction under 80 c nor the interest ,then what is the use of putting further contribution
    I tried to get the ansure form SBI & CBI bank , but nobody gave me proper answer
    please davise,

    1. Seems like this is correct .

  190. Yeshwant says:

    Hi Manish..this is very informative PPF info

    1. Welcome Yashwant .. Did you open the PPF account ?

  191. Manish Varshney says:

    Hi Manish,

    Thanks for the Article on the PPF A/C Extension.
    Can u plz elaborate the 100% withdraw conditions after Maturity With Extension and Without Extension.

    Regards,
    Manish

    1. Manish

      I am not sure what additional information you want ? What you had asked is already discussed in the article .

  192. Ajay says:

    A nice article with a detailed explanation.- Good one Manish !!

    Will definitely share if with my friends.

  193. Ajay says:

    Hi Manish,

    This is a really informative article.

    My recent experience with PPF A/c.

    When I went to deposit the cheque of a Pvt bank to the PPF a/c in a Nationalized bank – I was informed that for PPF we cannot accept the cheques for other banks, rather you should have the account with our bank – this was not the case till last year.
    Then they said if you don’t a A/c with our Bank – either open a new account with us OR you need to deposit cash – so I withdrew cash from my Pvt. bank a/c and then deposited the cash in the Nationalized bank branch of my PPF A/c.

    Any idea if there are any such changes in the rules.

    Regards
    Ajay

    1. No there is no rule like this , You should have threatened them that you will find the information using RTI application on this .

  194. geo thomas says:

    Thanks manish for a wonderful information. thanks for sharing.

  195. Praveen K says:

    Thanks manish, that was very informative. appreciate the time you spend to write these articles. thank you.

    Praveen K.

    1. Thanks .. would be great if you guys can extend the help in spreading these articles in your company at common mailing id’s .. this will help us grow

      1. Praveen K says:

        Yes, I’m already recommending your website to many in my office. About 5 of them are already following your website regularly.

        For the knowledge I gain from these posts, I feel in debt of doing at least this.

        continue your good work!

        1. Good to hear that .. please let us know others about it !

  196. Madhava ram says:

    Thanks Manish for sharing this.

    But the examples which were shown above as saying 1 crore, I don’t think we can make 1 crore balance in PPF as the limit is per year 1 Lakh. In case if I am wrong, please give an example how our money can grow to a crore.

    Thanks
    Madhava ram

  197. Dinesh says:

    Thanks Manish..
    I feel more enlightened with this article …
    i will definitely share this with my friends..

    regards

    dinesh saboo

  198. Ritesh Kumar Singh says:

    Hi Manish,

    This article came as quite a surprise about the 60% limit !

    can you please advice the source of this information ? I had made PPF investment with my first year job and the only investment of which I am proud of which was made forcefully by an elder in family. I have also completed almost 50% tenure so only 50% lock in period is left !

    Thanks,
    ritesh

    1. Ritesh

      See http://www.indiapost.gov.in/POSBActs/PPFRules1968.pdf section 9 3b . This is clearly mentioned in the PPF rule book by POst office

  199. Shiv says:

    Thanks Manish!! nice Article .

  200. RAVI VERENKAR says:

    Hi Manish,
    Excellent article. PPF as a long term investment vehicle is still not understood by many. Creating awareness about it is a must. Congrats to you for all that.
    I have a question for you on PPF: How much maximum contribution can one make in a year for a family of 04 people (husband, wife & two minor children)? Is it Rs. 4 lakhs altogether with a contribution of Rs. 1 lakh in each individual account OR a total of Rs. 2 lakhs distributed amongst the four of them.
    I have seen people contributing the maximum even in their minor children’s PPF accounts apart from their own accounts.
    Is it legally right. Please throw some light on it? Thanks a ton for all your valuable articles.
    Regards,
    Ravi.

    1. Each account can have maximum 1 lac per year .. but a person can claim tax benefit of only upto 1 lac including his and his child account . SO if a person opens a PPF account for his child (minor) being his guardian . He can deposit upto 1 lac in each , but he will get tax benefit on just 1 lac

      1. RAVI VERENKAR says:

        Thanks Manish for the clarification.

      2. Anand says:

        Manish,

        Ashal mentions that the combined limit of your PPF account and your child’s PPF account is 1 lakh, whereas you say that 1 lakh each can be deposited.
        What does the PPF rulebook say?

        1. That limit is 1 lac for taxation deduction . you can deposit upto 1 lac, but total deduction available is just 1 lac

          1. Anand says:

            Forget tax deduction. Just let me know whether I can deposit 1 lakh in my account and 1 lakh in my kid’s account.

            1. that should be possible

            2. Anand says:

              But Ashal says that the combined limit is 1 lakh!

            3. Anand

              My bad .. I think Ashal is right . One can not put more than 1 lac combined for his own and minor account whose guardian he is

            4. nisha says:

              manishji

              i have one my ppf account and other one of my son (minor) acccount in SBI .now wht should i do….. my ac.in 16th y and son’s ac in 9th y running…….pl suggest…

  201. Veeraf says:

    Manish,
    Could you please write some articles on NPS also, I am stuck with an NPS account which has been made inactive because of careless nature of bank employees of Kotak bank. They did not deposit the check in time and now my account has been made inactive. When I ask Kotak bank they tell me that there are no rules for making the NPS card active again. We have to wait untill new rules come out.
    Please advise path forward.

    Best regards,
    Veeraf.

    1. I think you should ask this on our forum : jagoinvestor.com/forum .. people there will have an immediate answer on this

      1. Veeraf says:

        ok thanks Manish.

  202. Parag Rodrigues says:

    Hi Manish,

    Undoubtedly, this article has been an Eye-opener for me. I hjeld PPOF account for past 4 years but my investment to PPF was quite minimal.

    I was under wrong belief that PPF account can be held for max 20 yrs ( 5 yrs exteneded only once after your maturity). But things are now VERY MUCH CLEAR.

    We can opt to extend fo another 5 yrs based on the options (with / without further subscription.

    Could you please assist to know if we need to explicitly define in some form to conifrm the relevant option.

    THANKS A TON FOR SUCH FANTASTIC ARTICLE. …

    3 Cheers to you….. 🙂

    1. Parag

      Actually there is a form , but i dont know the name right now . you can go to PPF office and ask for it , they will assist you on that ..

    2. Anand says:

      form-H needs to be submitted if one wants to continue PPF account with contribution.

  203. Manidipa Bhaumik says:

    OMG!! You have just opened my eyes. What an analysis. I just realized the power of PPF. I have decided to use my PPF account as my pension plan. I have started a ppf account recently. Last year I have deposited 20000/- . This year I am planning to contribute 30k to it. My age is 28. Can I g et Rs 1 cr by 50-55 yr?
    How much I have to invest in ppf for that yearly, can u pls suggest if you have time.

    1. Venkataraman Ramamoorthy says:

      Hi Mandipa,

      If you invest 50,000/- in PPF for the next 35 years, You would have accumulated a total amount of more than 1 crore (ROI – 9%). But if you invest 100,000/- for the next 27 years, you would also accumulated the same amount.

      Just wanted to share….

      1. Manidipa Bhaumik says:

        Thanks Manish. But as you mentioned if invest 100000 for 27 years, I will get the same. Can u pls tell me where I can invest the lumpsum of 100000 to get 1 cr?

        1. Manidipa

          You need 19% on yearly basis to get 1 crore from 1 time investment of 1 lac over 27 yrs .. its very tough actually .. From mutual funds you can expect 15% with lot of optimism .. so I would say you really cant generate 1 crore from 1 lac in 27 yrs in real life assuming consistency in returns from various products

          1. Manidipa Bhaumik says:

            Thanks Manish.

            Anyway I am now trying to finish my homeloan asap. For that I am trying to accumulate max cash to repay. I did some calculation, based on that I found repaying homeloan is far better than any savings, till my home loan is finished. Kindly let me know your views on that also.

    2. Good to hear that .. you can use simple maths to calculate how much you would need it , there are some calculators here for your help : https://www.jagoinvestor.com/calculator

  204. Deepa says:

    HI Manish,

    Till the time I read this article I was under the impression that PPF account can be extended only twice . Also as mentioned by you, a PPF investment as a pension tool has given a new insight to me.
    Just a query can a PPF account be transferred to another branch of same bank in a different city?

    1. Yes .. PPF account can be transferred from one place to another, but you would need to fill up some forms for that, enquire in that bank for this

  205. Sumeet Gupta says:

    Excellent information Manish. My query to you, i already have a PPF account in my local post office. Though i believe the answer is No, can i get this PPF transferred to SBI or may be ICICI, now that they have started providing it?

    1. Obviously YES 🙂 .. why do you think the answer is no , PPF accounts are portable , the only issue is you need to put some time and effort on this .. enquire in ICICI how to do that .. they will help you

  206. koguty says:

    A couple of questions –

    What happens if I do not contribute to PPF for 1 year [not even the minimum contribution] – will there be any problems at withdrawal/maturity/extension?

    Can we move our PPF from SBI to ICICI?

    1. If you do not make the payment (even minimum) for some year .. your PPF account will get into suspended mode , then you need to again renew it by paying Rs 50 per year penalty and contribution for all the years you have not paid (500 per year) , but I am not sure if you will get interest for those months when it was not active !

      1. koguty says:

        Interest got credited to my account for the “inactive” year.
        How do I know if it is inactive/suspended mode? I am able to deposit in it, interest is credited?
        Will this inactivity/suspension come into picture while maturity/withdrawal?

        I am hoping nothing fishy is awaiting me for this 1 miss later down the line :(.

        1. hmm.. in that case may be i was wrong that you do not get interest for inactive year .. note that inactive means a financial year here from Apr 1 2011 to Mar 31 2012 , like that ..

  207. Dr M Chandrashekhar says:

    Excellent article, Manish. Great info . I have forwarded it my friends.

    Dr MCS

    1. Thanks ChandraShekhar !

  208. A V Gosavi says:

    Dear Manish,
    You are indeed great! You have enlightened my understanding about PPF. I am happy that I continued after 15 years and have been contributing regularly. But your article has gave me great support that my decision has been, only not only correct, but a greatest boon for me as Retired Tax payer and also investor!.
    Many many thanks for your yeoman job!

    1. Thanks Anand 🙂

  209. Vivek, Hyderabad says:

    PPF is one such great Safe-haven Financial Product I have ever seen. But, of late, the only thing I regret about PPF is Interest Rates. I have seen the peak levels of 12% Interest on PPF. From thereon, the interest has been on a downward spiral touching rock-bottom lows of 8%. Its a Shame that Returns on a “National Financial Product” is so abysmal. Its all because of our Greedy and incompetent politicians. The PPF acts as a “Cheap Fund Reserve” for our Govt. to use for their Schemes or other clandestine activities. I wish the Interest rates on PPF at not below 10%, given that its a National Financial Product with huge lock-in period (as long as average home loan tenure).

    1. Vivek

      I am not sure how correct it is to say that the return of PPF should be above 10% just because its a national product ? What is the basis for that ? What was the FD rates at that time ? what was the inflation that time ?

      1. Vivek says:

        What is the Basis for that? Being a Govt. initiated National Product, it should atleast beat Inflation. Because of high inflation, Purchasing Power has come down.

        Banks can certainly not offer the 10% kind of returns.

        But some Real Returns in terms of Inflation can be insisted from Govt.

        Besides, the long lock-in period itself should allow 1% higher rate than card/rack rate, because higher tenure means low asset liability management for the Govt.

        1. Vivek

          Thats the issue .. how do govt track inflation on so frequent basis ? FD rates are generally anyways near inflation .. better than PPF , I think FD are inflation linked !

  210. Mansoor says:

    Great point, Thanks for emphasizing the importance of having a PPF account. Everyone’s debt portfolio should have this instrument.

  211. ALAGAPPAN S says:

    A PERSON HAS OPENED A PPF ACCOUNT AND COMPLETED 15 YEARS. BUT HE HAS NOT REMITTED ANY MONEY FOR THE LAST 5 YEARS. AFTER 15 YEARS HE COMES FOR CLOSING THE PPF ACCOUNT. WHETHER PENALTY FOR NOT REMITTING FOR THE LAST 5 YEARS IS TO BE RECOVERED FROM HIM OR NOT

    1. No , this can not happen . Its fine if you do not deposit any money in your PPF account after maturity , its deemed to be extended without “subscription”

      Manish

  212. shankar says:

    hi,

    One thing..try to deposit the 1 lac limit for the financial year..as early as possible..to get max benefit of compounding interest and also because interest calculated on minimum balance available after 5th for a month..

    So, ideally if we deposit 1 lac before 5th of april….thats best possible way

    shankar

  213. KRANTIVIR RAJPUT says:

    Manish, Excellent article regarding your Favorite debt instrument PPF!!

  214. If someone having a PPF a/c and want to be open a another one. Could it possible.

    1. KRANTIVIR RAJPUT says:

      Only 1 account is allowed per person.

    2. No Prabir .. its not possible

  215. nachiket says:

    Thanks for this wonderful information Manish.

    I have one question, if I open an account for myself and also open another account in the name of my kid, I know that I will be able to get tax deduction from each years IT return for the amount that I invest in my account. However will there be any tax at the maturity for the account that I opened in my kids name?

    1. Yes Nachiket

      You can get the tax deduction from your kid PPF account also , but the total deduction in a year can be total of 1 lac only , like if you invest 50k in yours and 70k in your kid account , then total 1 lac you can claim

  216. Raman K S says:

    Excellent piece of information; in day-to-day matters. Grateful thanks to you.

    One clarification needed is about date of deposit. Would like to know if interest is payable by the Bank from the date of deposit of cheque or after realisation of cheque. Kindly guide me.

    1. C.L.ASWATHANARAYANA says:

      Earlier the day a local cheque was deposited in the office it was deemed to be credited and such deposits were earning interest from the month of deposit if the deposits/ cheques were made/presented on or before 5th of the month. At present the date of realisation of the cheque is deemed to be the date of deposit.
      C.L.ASWATHANARAYANA IFA BANGALORE

  217. deepesh says:

    dear manish,

    you every blog is just superb….kudos

    thanks

  218. ASHAL JAUHARI says:

    Dear friends, many of you are posting queries regarding PPF. I request you people to have a look on similar queries discussed in

    http://www.jagoinvestor.com/forum

    A lot of info is there already.

    Thanks

    Ashal

  219. dr nilesh says:

    really nice article,
    manish you are really a guru for new learners like us,
    we have learned so many things from this blog and now we are spreading this awareness to all my friends and relatives,
    for them i became the only source person of all these knowledge,but they dont know u r my guru in this finance knowledge world.
    a small doubt,
    can we open 2 account for self and kid and invest 1 lakh each in 2 account.

    1. Abhishek says:

      you can, but for tax purpose you won’t get any benefit for more than 1 lakhs

    2. Thanks for your comment Nilesh.. You can not open 2 PPF account for yourself . all you can do is open another one for your minor child and be a guardian

  220. Sunil says:

    Bank officials don’t even know that, it can be extended without subscription. At one of the PSU banks I was told that, such option does not exist.

    1. Obviously they dont know .. you need trainers in the area of PPF for banks 🙂

      1. Sunil says:

        Hi Manish,
        I see a potential business opportunity there! 🙂
        But, let me share with you, my experience with ICICI Bank in this regards was pleasant. I just wrote to customer care, “why can’t I open PPF account at any of the branches of ICICI Bank? With the advent of Core Banking Solutions, customers should be allowed online PPF account”. I got a reply stating that, “presently ppf account can be opened only @ main branch”. Within a month I saw a link on ICICI Bank net banking portal for “online PPF account” with words “new” flashing next to it! 🙂
        They are really lending their ears to customer grievances and complaints. Way to go!

        1. Hmm … so now you are saying they are allowing it at all the branches ? Not just the main branch ! is it !

          1. Sunil says:

            If its online, branch doesn’t matter as such except for one time account opening. All the hassels of subsequent visits for deposit and passbook updates are done away with.

            1. Phani Kiran says:

              Ha ha, everything we want to do online only :).
              As i am aware, still it is not possible to open at any ICICI bank. The online link is just to input details and take some printout and visit the specific ICICI branch with all documents. PPF is part of Government scheme and therefore only branches where ‘Treasury’ operations are performed accept them – Not all the branches.

            2. Thanks for this information about “treasury Operations” .. what exactly it means ?

            3. Phani Kiran says:

              I think it means ‘government business’ – like taxes etc.

  221. Abhishek says:

    Nice Article!

    The last line is hilarious! Does anybody has the guts to teach the SBI babus a thing or two about PPF. I don’t think so. 🙂

    When does the PPF matures? I’ve heard that the time calculation starts from the end of FY in which first investment is made. In effect, after 16 years, if the first investment is made in April. So, after 16th yr and before 17th yr, the extension decision is to be made. Correct me if I am wrong.

    1. Yes Abhishek you are correct . Its always 15 yrs from the end of the financial year from when you started . Like if you opened it on 19th Sept 1990 . You have invested in the year 1990-1991 . Now end of 1991 financial year , which is Mar 31st 1991 will be taken as starting date , and it will be 15 yrs from that date , that is Mar 31st 2006 as maturity date

      1. Sagar Pawar says:

        In the above case, If I want to continue my PPF account with contribution, should I fill the form H and next installment after March 31st 2006 or between (1-Apr-2005 to 31-March-2006)

  222. Anand says:

    Good article… but a couple of things.

    First of all, it’s not possible to accumulate 1 crore in 15 years in PPF. It would be prudent to assume a realistic value.

    Also, there is no mention of form-H, which needs to be submitted if one wants to continue PPF account with contribution.

    1. Anand its just for illustration .. Its for learning purpose , even if I use 10 lacs, the meaning would be conveyed in same way

  223. BIJAYA KUMAR PRADHAN says:

    yaa cumm. of both interest is more than 3.0 lacs….,
    plz advise how i will save ??

    THanks.
    Bijay

    1. ASHAL JAUHARI says:

      Dear Bijaya, I request you to have a look on similar queries discussed in
      https://www.jagoinvestor.com/forum
      A lot of info is there already.
      Thanks
      Ashal

    2. Your question is not clear to me

  224. BIJAYA KUMAR PRADHAN says:

    Dear Mr. Manish,
    I am having two home loan, both are more 1.5 lacs per Annum. How i will save these in tax claim ?What is the exact procedure for taking the maximum tax benefit.

    Thanks.
    Bijay

    1. You can claim 1.5 lac on first home loan and unlimited interest claim on second house if its rented

  225. BIJAYA KUMAR PRADHAN says:

    Dear Mr. Manish,
    I am having two home loan, both are more 1.5 lacs per Annum. How i will save these in tax claim. What is the exact procedure for taking the maximum tax benefit.

    Thanks.
    Bijay

  226. BIJAYA KUMAR PRADHAN says:

    Earlier it was 70,000 but now-a-days it is upto 1,00,000 which will be taken as tax saving. Each month u can put Maximum upto 1,00,000 in 12 instal.

  227. Nikunj Bhatt says:

    Thank you, Manish.

    This is a very useful input for all PPF Investors who, (like me) are on the verge of completing the 15 years lock-in.

    The info on endless continuation of this account is extremely useful too and I am sure many of us were ignorant about it, do far. The withdrawal rules too, are very informative.

    Thank you, once again.

    I have a question on Income tax that I seek an answer to, from you. How should I go about it? Pl let me know at me E mail add above.
    Thank you,
    Sincerely,
    NKB

    1. Thanks Nikunj

      for your tax question , please use our forum for that : http://www.jagoinvestor.com/forum

  228. SATYA MOHAPATRA says:

    With existing rules one can put money once in a month that means total 12 subscriptions in a year. How much one can put in a year? Is it 1,00,000(one lakh) or more?

    1. Ratnakar says:

      See the link in the article on how interest is calculated. It is better to do lump sum deposit if possible than monthly deposits to fetch higher interest. I know the limit to get tax rebate is 1,00,000 but not sure what happens if you deposit > 1 lakh.
      I guess it will not earn any interest.

      1. Yes. it will not earn any interest

    2. santosh says:

      Min 500 and Max 100,000 in a year . But why banks (SBI) are not so interested in opening ppf a/c…….don’t they get commission on ppf ?

      1. No , banks do not get commission on PPF

    3. 1 lac per year max .. and 12 installment in a year .. total

  229. Sushil says:

    Sir
    The information is really great and useful
    Thanks

  230. Rajiv Mathur says:

    Thanks Manish, This indeed is a very useful information. You deserve lot of patting for this. Rajiv Mathur

    1. Rajiv

      Thanks .. you all need to spread this information, else it will be of no use 🙂

  231. Ratnakar says:

    Hi Manish,

    Very informative article. I did not know about extension with and without further contribution options. This was an eye opener. I also liked your interpretation as “great pension tool”. PPF is quite an effective instrument. This is my 15th year of PPF subscription and will surely extend for 5 yrs with regular contribution. Thanks!

    1. Nice to hear that ..

  232. Kranti Goyal says:

    Hi Manish,

    Thanks for great info.

    Problem is with bank/post office employees are ego. They think they are always right and if you want to teach them they will start getting angry.

    One more thing is there any government document regarding PPF rules. So we can also show this documents as proof to bank employees even file RTI.

    Thanks and Regards
    Kranti Goyal

    1. ss thind says:

      it is always advisable now to go to any national bank like pnb or sbi .in a city though not all branches are authorised.sbi is having online facility while in pnb is like good old days you have to get ur passbook updated. banks are better bcos ypu can open a a/c and give satnding instructions to debit from this a/c to ppf a/c.you can always put money in this a/c anywhere .i have been doing this for 10 yrs , once a year or so i call up the branch to chk if the person handling ppf a/c has not changed.banks are more convenient.

    2. yes PPF office employees will not confess that they do not know something . but what you can do is that tell them that one of your friend has done otherwise and the bank official accepted it when he showed them PPF rules issued by govt . I feel this way there are chances that they will listen !

  233. Tarun says:

    Excellent piece of information.
    Thanks once agian.

    Tarun

    1. Thanks Tarun for your appreciation

  234. BIJAYA KUMAR PRADHAN says:

    Hi Mr. Manish,
    Can we withdraw 100% after 15 year or not ? what is the eaxact rule of 100% surrender ?

    Regards,
    Bijay

    1. SATYA MOHAPATRA says:

      Yes you can withdraw whole 100% after 15-year maturity provided you do it before 16th year is completed and you have made no contribution in the 16 th year.

      1. Anand says:

        Why the restriction that you should have not made contribution in 16th year?
        I doubt this rule. Manish?

        1. C.L.ASWATHANARAYANA says:

          Provided no deposit is made during the 16th year the entire amount or part thereof can be withdrawn any time after the completion of 15 financial years after the financial year in which the account is opened (Ex: A/c opened any day between 01-04-1996 and 31-03-1997 can be closed or continued without further deposits and such (continued) accounts can be continued for life time with ONLY one withdrawal per year till the balance in the account becomes NIL.
          PPF Scheme, 1968 came into existance in the year 1968. I doubt any account with a balance of Rs. 1.00.00.000/-
          I think PPF Scheme,1968 Act and Rules must be available in a website. Any one tried ? -C.L.ASWATHANARAYANA

        2. Anand

          There is no restriction in PPF about contribution in 16th year . All we are saying is that if you have not invested anything in PPF in 16th year , in that case what happens – its assumed that you are continuing your PPF without subscription !

          1. AAnoop Aroura says:

            w what is the maximum limit of amout per year can be deposited after maturity?

            1. Its same 1 lac. deposit rules does not change

        3. SATYA MOHAPATRA says:

          You have contributed in 16th year means you have renewed for next 5year with paying option. Hence u can not withdraw 100%.
          However you can withdraw upto60% within 16th to 20th year.

          1. Anand says:

            Nothing like that. If you have contributed in 16th year, it does NOT mean that you have decided to renew. You can decide what to do with your PPF account on the day of maturity.

            1. SATYA MOHAPATRA says:

              Dear Anand! please go through the below quoted PPF Act clause3A:
              (3A) Continuation of account with deposits after maturity :- Subject to
              the provisions of sub-paragraph (3) a subscriber may, on the expiry of 15 years
              from the end of the year in which the initial subscription was made but before
              then expiry of one year thereafter, may exercise an option with the Accounts
              Office in Form H, or as near thereto as possible, that he would continue to
              subscribe for a further block period of 5 years according to the limits of
              subscription specified in paragraph 3.
              (3B) In the event of a subscriber opting to subscribe for the aforesaid block
              period he shall be eligible to make partial withdrawals not exceeding one every
              year by applying to the Accounts Office in Form C, or as near thereto as
              possible, subject to the condition that the total of the withdrawals, during the 5
              year blcok period , shall not exceed 60 percent of the balance at his credit at the
              commencement of the said period.

    2. Yes you can withdraw 100% after maturity , but only within 1 yr from maturity (16th year) , after that you can still withdraw 100% but if you have not deposited anything in 16th year !

  235. think says:

    Can you tell me how you accumulate 1 core in the ppf, where you can only deposit 60,000 for 15 yrs where now its 1 lak a year. ?????????

    1. SATYA MOHAPATRA says:

      Earlier it was 60,000 but now-a-days it is upto 1,00,000 which will be taken as tax saving. How ever you can deposit much more than that. Each month u can put as much as you afford.

      1. Ratnakar says:

        I thought any deposit higher than 1,00,000 will NOT earn any interest. Or is the 1,00,000 ceiling only for tax rebate purposes? I am not sure.

        1. Surender Singh says:

          Rebate available u/s 80C is upto 1,00,000/- only. But you can invest as much as you like – maximum 12 times in a year subject to once in a month. And entire amount will earn same interest.

          1. C.L.ASWATHANARAYANA says:

            1) Maximum deposit under the Scheme by an individual in the name of self and / or minor child of whom the depositor is the guardian is Rs. 1,00,000/- p.a. This rule is not applicable to current HUF accounts,which cannot be renewed and new accounts by HUF cannot be opened now.
            2)There is no restriction that only one deposit can be made per month. All the 12 deposits can be made in the same month.
            3) The amount deposited by an individual in excess of Rs. 1,00,000/- will NOT EARN INTEREST
            C.L.ASWATHANARAYANA IFA BANGALORE

        2. 1 lac is the highest ceiling in PPF account , if you do invest more than 1 lac it should ideally not be allowed, but even if happens you will not earn any interest on it

          1. Yatin Thaggarse says:

            Great article Manish. Can you also elaborate on options available for NRIs, PIOs etc? Can they continue the plan once they are abroad? What options do they have?

            1. If you are asking specifically for PPF ,then the sad part is that NRI/PIO are not allowed to extend their PPF accounts after 15 yr of maturity .

            2. Yatin Thaggarse says:

              Thanks for the info.
              Is it: (a) Without further investment only? (b) Whether NRI/PIO can continue without contribution and continue getting interest indefinitely on previous investments? Or both not possible.

            3. Both not possible .. After maturity you need to withdraw it , if you do not withdraw it will not earn the interest . But the thing is this all thing is LEGALLY, If you are in US , how do PPF officials know that you are in US , if you do not do anything then things will get accumulated , but if they get to know that you are NRI at the time of maturity , then they will not give any interest !

          2. koguty says:

            You cannot deposit more than specified limit of PPF for a year – happened with me. PPF limit was 70k, but deposited more through cheque; after a year when getting the passbook updated – lo and behold – 70k credited to account [ the balance was returned as a DD]. So NO, you should not expect any interest on the amount exceeding the ceiling of PPF for that year.

            1. Hmm.. didnt knew that this can also happen . thanks for updating !

        3. PANKAJ PARMAR says:

          THis is the maximum permissible limit for deposits in a financial year. No further than that amount can be acceptable in PPF, forget earning interest on any deposit of more than Rs 1 L.

      2. Deepak R Khemani says:

        You CANNOT deposit more than 10000/= a year, the computer software dosent allow you that even if the cheque is deposited for clearing the bank will prepare a draft in your name and send it back to you. 100000/= is the maximum that can be deposited in a PPF A/c in a year.

      3. No Satya

        The excess amount you want to put above 1 lac will not be allowed and even if it is allowed , it will not earn any interest , so whats the use of it

      4. PANKAJ PARMAR says:

        No, one can’t invest more than 1 L in a financial year. If by over-sight excess amount is accepted, then excess amount is to be refunded without any interest on it. Irrespective, how long this “excess” amount has remained in the account.

    2. Dominic says:

      You can actually deposit 1 lakh/year from last financial year. PPF is not for just 15 years, you can extend 5 years multiple time.

    3. Phani says:

      The figure used is an example :), obviously we cannot accumulate 1 crore in 15 years even after contributing 1 lac per year. Any amount more than this contributed per year will not earn interest. If you keep on extending and contributing until the actual time you cant contribute anymore, then the accumulation might reach 1 crore 🙂

      Regards

    4. Its just illustration

  236. Mukesh Kumar SaH says:

    Hi Manish,
    Thanks for the information!
    You have any information that when post offices will provide online facility for PPF account .

    Thanks,
    Mukesh Kumar Sah

    1. KRANTIVIR RAJPUT says:

      Only ICICI Bank provides online facillity for PPF w.e.f. 01-APRIL-2012.

      1. Yuvaraj Kamalay says:

        SBI also provides online facility, I am using SBI for my PPF account since from last 2 years

        1. sumit says:

          Yuvraj,
          I did not see SBI provides PPF online . i guess u will have to have saving a/c to handle ur PPF account. can i handel ppf a/c online without opening saving a/c?

          thanks,
          Sumit

          1. Gajanand says:

            Its possible to have the PPF a/c without savings a/c. But its always advisable by bank officials that as the amount in PPF a/c runns into lacks its better that you have savings a/c.

            1. Why ? Any reason ?

            2. Anand says:

              It would be easy to transfer the amount to the savings bank account once PPF account matures. And it would be quick too.

    2. No Mukesh

      No idea on that and I would recommend , do not expect it any time soon . It will take a lot of time for that !

      1. Ivan says:

        Automation of Post office accounts is underway. It might take one year to get all the post offices linked and to get online facilities like banks

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