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POSTED BY ON January 3, 2015 9:57 am COMMENTS (4)
Hi,
I had taken a PPF 4 years ago and i have invested around 8,000 INR in it for the first 2 years and for the last 2 years i haven’t invested anything.
I have been following your forum and suggestions closely and i think i should invest regularly in PPF. I wanted to know if there is a way to close the current account or keep it as is and pay minimum to keep is alive and start a new PPF ?
My PPF is with SBI. Please suggest.
Thanks and Regards,
Adithya
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Can i close the current PPF account and start a new one ?
No you cant do that !
you cant close this as 15-year lockin is not over. As I said, please pay penalty and make it active and deposit min 500 every FY to keep it active.
A min. deposit of Rs.500 per FY should be there to have the PPF account active. As u have not deposited anything last 2 years, your account might have changed to inactive. Now, you have to make this active do further contributions. To make it active, they charge you around Rs.100 I think. So, after its active, you can use it. No need to open another PPF account. FYI…. it is illegal to have 2 PPF accounts.