When Can I Withdraw All Money From PPF Account Before Maturity?

This is a very obvious question asked by many PPF account holders. And for them, this is very clear after Govt has declared the new PPF closure rules recently.  As per the new Rule, you can close your PPF account and withdraw all the PPF balance even before 15 years of completion.

So, now if you have any question like below I am going to answer here in this article.

  • can we withdraw money from ppf account before maturity
  • can ppf account be closed before maturity
  • how to withdraw ppf amount online
  • can we close ppf account
  • how to close ppf account
  • how to break ppf account
  • can a ppf account be closed prematurely
  • can ppf account be closed before maturity
Also Read  How To Open PPF Account in ICICI Bank

When Can You Close Your PPF Account Before Maturity?

Now this is the obvious question and there are certain rules to get eligible for PPF account closure. As per previous rules, whenever the account holder is dead, the PPF account will be closed automatically. And this rule is still valid in after implementing the PPF premature closure rules in 2016 also. In addition to that, you have 2 more resons now to withdraw full PPF balance before 15 years of account completion.

Premature Closure On Account Of Medical Emergency

If you need emergency cash due to some life threatening diereses like kidney failure, heart operation, cancer treatment etc, you can ask for PPF account closure. You can close the PPF account for the medical treatment of yourself, spouse, dependent children and dependent parents providing all the necessary documents to prove the reason.

Also Read  When To Deposit in PPF Account To Get Maximum Interest

Close PPF Account To Fund Higher Education of Kids/Self

Want to complete your higher studies or want an MBA form foreign university? Then you can now close your PPF account and use the entire balance for pursuing Higher education. You can also use this money for your Kids higher education expenses. But you have to produce the original bills & documents related to admission.

Also Read  How To Open PPF Account in SBI Online

Remember one thing, In any case if you close your PPF account before maturity, as per the new rule there will be a 1% penalty on interest rate from the date of opening of PPF account will be applied. This rule is not applied, in case the PPF account is closed due to the death of account holder.

Have a question on PPF premature closure rules? Then write your query here by a simple comment below.

When Can I Withdraw All Money From PPF Account Before Maturity?
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About the Author: Santanu

I am a passionate blogger and personal finance enthusiast. Mostly share about investment tips, insurance guide, banking how to guides and various personal finance hacks through my blog. Checkout my first YouTube Channel on Personal Finance Guide.

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