How to withdraw PPF after Maturity?

Check PPF withdrawal Rules and Options after 15 Years Maturity

Public Provident Fund, PPF matures after 15 years of opening an account. You can withdraw the sum once it matures. You can consider it as life time account too as you can extend it for 5 years as many times as you want once it matures. Here we will discuss on How to withdraw PPF after Maturity.

There are some important points that you must know regarding your PPF account and withdrawal. You should know how to calculate your maturity amount.

There are three options you get for your PPF account once it matures.

1) Withdraw matured amount and Close the account

On maturity, you withdraw the full amount with interest. Then the account closes automatically.

You can also withdraw the amount in installment. It is allowed for not more than a year after maturity. It means if your account matures on 1st April, 2017, you can withdraw money in installments up to 31st March, 2018.

If your PPF account is matured but you don’t withdraw money, it will continue to earn the interest as long as you keep it. You can’t contribute to such accounts. If you don’t make any withdrawal within a year, it will be extended for 5 years automatically without contribution option. You can’t even open a new account unless you close it.

2) Extend PPF account without further contribution

It is a default option. It means if your account matures and you don’t make any withdrawal for a year, it will become extended PPF account without contribution. It is for 5 years. It will continue earning interest. A very interesting feature about this account is that you can withdraw any amount anytime, but once in a year.

3) Extend PPF account with further contribution

Once your PPF account matures, you can further extend it for 5 years. You have to submit an application for it within a year of its maturity. There is no limit to such extension meaning you can keep on extending it for 5 years time period as many times as you want. You can contribute to it every year and earn interest on it. Once you go for this option, you can’t withdraw more than 60% in 5 years. You can withdraw this amount in partial installments too.

PPF account has several benefits to offer and it is always recommended that you have a Public Provident Fund account.