I opened PPF account during Sep1993. After completion of 15 years it was extened by 5 years. Hence it must be due during Sep2013 and I should be allowed to withdraw now or during Apl 2014 after financial year. But my agent told me that it can be withdrawn only during Apl 2015. Is it true??
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Major doubt about ppf account
Replies (6)
You were entitled to close and withdraw the monies from PPF account in September 2013 itself. Why April 2014 and/or 2015 ? !!
Regards,
You are entitled to amount in your PPF account on maturity. Please directly check with the bank where you have a PPF A/c for better clarity. Do not rely on agent.
Here Milind m kulkarni is right
There is no question of 2014 or 2015 ... You can withdraw amount on completion of 15 years or 20 years as in your case.
See, here are two things,
First, you may continue upto maturity and get 100% withdrawl of amount lying in ppf account
Second, you may withdraw your money anytime before maturit. Bank cannot refuse to pay minimum 60% of amount lying in account at the time of extension. Though its a statutory limit as per scheme, but in actual, this percentage may vary. One may be able to withdraw even 70-80% of amount presently lying in your account. You have to check it out with your bank that how much you can withdraw.
And Yeah one more thing that please check your passbook about the date of extension and calculate the date of maturity accordingly. On and after exact date of maturity you may withdraw your full amount. No need to wait till close of financial year or 2015.
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