PPF Balance: PPF has a lock-in period of 15 years, which means investors cannot withdraw money before the end of the period. Maturity amount is available in this scheme only after 15 years. However, there are some exceptions where partial withdrawal can be made.
PPF Scheme: Public Provident Fund ie PPF is a popular long term investment scheme in India. The PPF scheme allows investors to deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh per year for a period of 15 years. The interest rate on PPF is fixed by the government and currently it is 7.1 per cent per annum.
PPF has a lock-in period of 15 years, which means investors cannot withdraw money before the end of the term. Maturity amount is available in this scheme only after 15 years. However, there are some exceptions where partial withdrawal can be made. These are as follows:
After completion of 5 years,
after completion of 5 years from the date of opening of PPF account, the investor can make partial withdrawal from the PPF account. The maximum amount that can be withdrawn is 50% of the balance at the end of the fourth year or the balance at the end of the previous year, whichever is less.
 For medical treatment,
a person can withdraw money from PPF account in case of medical emergency for himself or any family member. The maximum amount that can be withdrawn is 50% of the balance at the end of the fourth year or the balance at the end of the previous year – whichever is less.
Higher education expenses
A PPF account holder can withdraw money from the PPF account to meet the education expenses of himself or any of his children. The maximum amount that can be withdrawn is 50% of the balance at the end of the fourth year or the balance at the end of the previous year – whichever is less.
In case of death of the investor,
in such cases the nominee can withdraw the entire amount from the PPF account.
How to withdraw your PPF amount online?
- To make PPF withdrawal online you can follow the steps given below to withdraw money:
- Log in to your PPF account on the website of the bank or post office where you have opened the account.
- Once logged in, go to the “Withdrawal” or “Partial Withdrawal” section and select the amount you want to withdraw.
- Enter your bank account details including account number and IFSC code in which you want the withdrawn amount to be credited.
- Submit the withdrawal request and wait for confirmation.
- Â Once the withdrawal process is complete, the amount will be credited to your bank account.
It should be noted that some banks or post offices may require additional documentation or verification before making a withdrawal request.
