PPF Account Closing Form

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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 However, the entire amount can only be withdrawn at maturity.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 the 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 Public Provident Fund 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*Certified, that the amount sought to be withdrawn is required for the use of _________________________________ who is alive and still a minor.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)

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