If you are investing in PPF and you need money before maturity, then you can withdraw money only on this condition. What is its process, let us know
Public Provident Fund is a great investment option for people looking for a safe investment scheme. Under this scheme, you can get strong interest in a period of 15 years. Under this scheme, the account holders get a return of 7.1% on the basis of compounding. Many times people invest money in a scheme, but for some reason want to withdraw money from this account. In such a situation, if you also have to withdraw from PPF account in case of emergency, can you do this? Let’s know about it.
Can partial withdrawal be done from the account before maturity?
According to the rules of the Public Provident Fund scheme, you can make partial withdrawals after completion of 6 years of the scheme. At the same time, after completion of 5 years of the scheme, if you want, you can also close it. If you want to withdraw half the money deposited in the account, then you must have a valid reason for this. At the same time, to take a loan against the money deposited in the account, one has to wait for at least 3 years.
When can money be withdrawn?
According to the rules of PPF account (PPF Withdrawal Rules), withdrawal from PPF account can be done only on the condition that when you need money in emergency. You can withdraw money from PPF account for the treatment of your family or your own illness. Apart from this, you can also withdraw money from the account for the higher education of the children. Apart from this, you can also make partial withdrawal from the account for the marriage of children.
How to apply for partial withdrawal?
For this, you can download PPF Withdrawal Form C for partial withdrawal from PPF account by visiting the official website of the bank. After that fill it and deposit it in the bank. Also show PPF account along with this. After this, the bank will give you 50 percent of the amount deposited in the account.
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