You can close your PPF account offline (visiting the bank branch) and online

You cannot close your PPF account within five financial years of opening it

Closing of PPF accounts before maturity is allowed only under specific and severe conditions like life-threatening diseases affecting the account holder, their spouse or dependents (children and parents). After submitting supporting documents, the PPF account can be closed after five years of opening it

If the account holder is a minor, the PPF account can be closed after five years in case of an urgent requirement for the child’s higher education

For normal closure of PPF after maturity, you can visit your bank branch or post office and ask for Form C for PPF account closure

Fill out the details and submit the form with further information regarding the transfer of investment amount after account closure

In case of an online account closure application, open your mobile banking or netbanking, log in with your credentials, click on PPF account and choose the close account or redeem option

Fill in the details asked in the form and submit the request

Your withdrawal money will reflect in your bank account or, in some cases. You will receive it in the form of a cheque from the bank or post office where you had opened your PPF account

Please note that no bank official or bank will call you or email you for any OTP, user-ID, password, PIN or any card number and CVV.

Yes, partial withdrawal is allowed in PPF only after completing five financial years of opening the PPF account

Partial withdrawal is only allowed for emergency cases

Only one partial withdrawal is allowed in a financial year

You can withdraw less than 50% of the amount deposited at the end of the fourth financial year of investing or the year before the withdrawal request

The bank will ask you for supporting documents to prove your emergency and details regarding depositing your money after withdrawal, and a declaration that no other withdrawal was made during the financial year

If the account is in the name of minor, additional details like proof of the account holder being alive will be required

Yes, you can get a loan against your PPF investment

‘Loan against PPF’ is allowed from the 3rd financial year of opening an account to the 6th financial year of the same

Only one loan can be taken against your PPF at a time

The second loan can only be taken after the closure of the first loan

The maximum loan account can be 25% of the PPF account balance at the end of the second financial year before the loan request

To take a loan against your PPF, you need to fill in Form D for ‘loan against PPF’ at the bank of the post office where you have opened your PPF account

Please note that no bank official or bank will call you or email you for any OTP, user-ID, password, PIN or any card number and CVV.

Points to remember

PPFs offer the same interest rate across banks, post offices and NBFCs. Stay away from those claiming to give a higher interest rate on PPF

You cannot close your PPF account within five financial years of opening it

You can get a loan against your PPF investment

There is no lower or upper age limit for investing in a PPF