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Sanjeev Govila  |282 Answers  |Ask -

Financial Planner - Answered on Sep 20, 2023

Asked by Anonymous - Sep 01, 2023Translate
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Is it mandatory to renew ppf every 5 years even though no contributions?

Ans: No, it is not mandatory to renew PPF every 5 years with no fresh contributions. After your PPF account matures after 15 years, you have three options:

• Extending PPF account without new deposits

• Extension of PFF account with fresh deposits

• Close the PPF account after 15 years

*Extend the account without fresh deposits - A PPF account holder can continue his/her account after maturity without making any further deposits. You can continue the account for as long as you wish. The PPF account will continue to earn interest rates applicable to the scheme.

Account holders can withdraw any amount from their account balance every year. But please note that once the account is continued without new deposits for more than a year, then the account holder does not get the option to continue again with deposits.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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