My Public Provident Fund (PPF) account will be maturing next year, after completing full 15 years. Is there an option to withdraw only the interest component every year from it by extending the account by another five years. Should the extension be with contribution or without contribution? Can you clarify?
- Rajagopal Krishnamoorthy
You can extend your Public Provident Fund (PPF) account on its maturity by a block of five years. You have the option to extend your PPF account with or without making further contributions. If you are extending it with further contributions, you can withdraw up to 60 per cent of the money you had the time of extension in one or more instalments. If you are continuing the account without further contributions, you can withdraw any amount from your account. Please note that only one withdrawal per year is allowed. Consider all these factors and choose a suitable option.
This article was originally published on April 14, 2016.
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