The lock-in period of my PPF account will be ending soon. But I wish to extend it for another five years. How much money can I withdraw now before continuing the account?
As per the PPF rules, you can withdraw once every year from seventh financial year of the account
The lock-in period of my PPF account will be ending soon. But I wish to extend it for another five years. How much money can I withdraw now before continuing the account?
Vinod Doshi, Aurangabad
As per the PPF rules, you can withdraw once every year from seventh financial year of the account, subject to certain conditions such as amount not exceeding 50 per cent of the balance at the end of the fourth year immediately preceding the year of withdrawal or at the end of the preceding year, whichever is lower. After the initial 15-year period, if you choose to extend the account and maintain the balance, you can withdraw the entire amount at once or in instalments. If the money is withdrawn in instalments, you cannot make more than one withdrawal a year.