PPF Account Closing Form

A PPF account can be permanently closed only after the death of the account holder. However, a premature closing request can be placed by the owner by submitting a simple form duly signed by the account holder with proper reason for withdrawal.

Premature closure from the PPF account is allowed only in the case of death. However, the entire amount can only be withdrawn at maturity. But, if there is a financial crisis, then partial withdrawals are allowed subject to a certain ceiling limit. You are allowed to withdraw once a year from the 7th year from the date of opening PPF account. The withdrawals will not exceed more than 50% of the balance at the end of the 4th year or 50% of the balance at the end of the immediate preceding year, whichever is lower. For example: the account that was opened in January 2010 will be eligible for partial withdrawals from 1st April, 2015. The amount of withdrawal is limited to 50% of the balance that is standing to his credit on 30th March, 2012 or as on 31st March, 2015, whichever is lower.

The PPF Amount Closure Form is as follows:

Application for withdrawals under the PPF Scheme, 1968

The Chief/ Branch Manager

I wish to withdraw from my Public Provident Fund Account No ____________________ a sum of Rs._____________ (Rupees ________________________________________ only). A period of _______ years has expired from the end of the Financial Year in which initial subscription was made.

*Certified, that the amount sought to be withdrawn is required for the use of _________________________________ who is alive and still a minor.

*(To be given only when withdrawal is sought from a Minors PPF Account)

The Pass Book is enclosed.

Date: __/__/20__

Signature/ Thumb Impression of (Subscriber/ Guardian)

For Office Use only

Date of Initial Subscription ___/___/_____
Amount available in PPF Account Rs._________/-
Date on which last withdrawal was allowed ___/___/_____
Amount available for withdrawal in accordance with paragraph 9(1), 9(3) of the scheme Rs._________/-
Withdrawal of a sum of Rs.______________ Sanctioned.

Date: __/__/20__

Signature/ Thumb Impression of (Subscriber/ Guardian)

Received a sum of Rs.________/- (Rupees_________________________________________) by way of withdrawal from Public Provident Fund Account No. _______________________

( ) * Credit the Amount to my SB A/c no ______________________________

( ) * Issue a DD/BC Favouring _______________________________________

*Tick any one

Date: __/__/20__

Signature/ Thumb Impression of (Subscriber/ Guardian)

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