PPF withdrawal rule changed: From now on you will not be able to withdraw money for so many years, See details
PPF Login: PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long.
PPF Login: Many schemes are being run by the Central Government for the welfare of the people. Public Provident Fund (PPF) is also included in these schemes. PPF is one of the most popular small savings schemes, but many investors are not aware of its features. Also, people have less knowledge about the tenure of this savings scheme. In such a situation, today we are going to tell many things regarding the tenure of PPF.
PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long. The period of 15 years is from the day of opening of the account. Tenure of 15 years means that the maturity of the PPF account will be for 15 years from the day the PPF account is opened.
PPF Balance Check
However, if some fund is to be withdrawn from PPF before maturity, then that can also be done. Partial withdrawal is allowed from the PPF account after the sixth year. That’s why some investors use PPF as an emergency fund. PPF allows investors partial withdrawal in case of emergency. From the PPF account after the sixth year, an investor can withdraw up to 50% of the balance at the end of the fourth year or 50% of the account balance at the end of the financial year preceding the year of withdrawal.
On the other hand, if the account is extended with additional contribution, then the withdrawal limit can be 60% of the account balance at the beginning of the extended period. However, if the fund is to be withdrawn before maturity, it can be withdrawn only on emergency. PPF operates under a mandatory lock-in period of 15 years. In such a situation, some funds can be withdrawn from the PPF account after the completion of the 5th financial year from the year in which the PPF account was opened. For example, if the PPF account was opened in February 2015, then withdrawal from PPF can be done from the financial year 2020-21. At the same time, partial withdrawal is allowed only once in every financial year.