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Can I withdraw Rs 2.4 lakh every year from my PPF account?

If you have extended your PPF account by a block of five years without any contribution, you are free to withdraw any amount from your account without any restrictions

My Public Provident Fund (PPF) account is 30 years old and I have accumulated ₹30 lakh in it. Can I use it as a pension fund? Can I make a withdrawal of ₹2.4 lakh every year till I die?
- Samir Sur

Yes, you can withdraw a particular amount from your Public Provident Fund (PPF) account every year until your death. You have not mentioned whether you have extended your PPF account with or without further contributions. Your choice will determine the amount you can withdraw from your PPF account. If you have extended your PPF account by a block of five years without any contribution, you are free to withdraw any amount from your account without any restrictions. However, if you have extended your PPF account with contributions, you can withdraw only up to 60 per cent of the amount you had in the account at the time of extending the account in one or more instalments. Please note that you can make only one withdrawal per year under both options.

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