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PPF Account: If you want to withdraw money from PPF account before maturity, then take care of these important things

Public Provident Fund: Public Provident Fund is a very famous government scheme in which a large number of people invest. Under this scheme, you can open an account in a bank or post office. A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in a financial year. The government gives a return of 7.1 percent in this scheme. The interest in this scheme is available on the basis of compounding every three months.

The lock-in period of this scheme is 15 years, which can be further extended for another 5 years. But, sometimes due to some reasons, money has to be withdrawn from PPF even before the lock-in period. You can also close the account first. So let us tell you about some rules for premature withdrawal of money from PPF account-

Premature withdrawal rule from PPF account
Let us tell you that according to the rules, if you have opened a PPF account in 2022, then you cannot withdraw money from it before at least five years. But, you can withdraw money under certain circumstances. With this, you can withdraw all the money in the PPF account before the completion of 15 years. However, you can make partial withdrawals of the amount deposited in the account if needed. According to the rules, withdrawal of money can be allowed only once within five years after opening the account.

Along with this, you are given loan facility on this account. But, you get the loan only up to 50 percent of the total deposit amount. Along with this, there is no tax on the money deposited under this scheme and after the completion of the period of 15 years, you can withdraw 100% of the money deposited in the account.

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