How to Close a PPF Account?

What is PPF?

The Public Provident Fund  (PPF) is a government backed saving scheme offering fixed returns.

Open a PPF Account

You can start investing in PPF by opening a post office or bank account.


The current interest rate is 7.1%. The tenure of investment is 15 years. 80C deductions allowed up to ₹1.5 lakhs.

Close a PPF Account

On maturity, your account will be automatically closed. Fill up & submit FORM C to the bank  or post office to withdraw the amount.

Extend the Tenure

To extend the tenure of your PPF investment up to 5 years, submit FORM 4 to the post office or bank within 1 year of the account maturity.

Partial Withdrawals

You can partially withdraw in the 7th year of opening the PPF account. There is a set limit on Withdrawals.

Limits on Withdrawal

50% of the balance at the end of the 4th financial year. 50% of the balance in the last financial year.

Premature Closure of Account

If the account holder dies or gets life-threatening disease, the account can be closed. A penalty of 1% interest will be levied.

Conditions for Premature Closure

PPF account closure is allowed  in case of the account holder's death, a change in residential status, life-threatening state, higher education, or education of dependent.


NRIs can't invest in PPF. If you opened a PPF account as a resident and became an NRI, you can maintain it until maturity.

Conditions for NRI

When you become an NRI, your PPF account closes for new deposits. The balance earns post office savings interest until maturity, with  no extension option.

Close NRI Account

To close your PPF account, submit a written request to your bank or post office, including your NRO Account number for balance transfer.