
Permission from sixth year
Partial withdrawal is allowed before the PPF account maturity, but this facility is available only after the sixth financial year from the account opening. But this too can be done only in certain circumstances. For example, if the account was opened on February 1, 2020, withdrawals can be made from the financial year 2025-26 onwards.

no tax
The good thing is that there is no tax on partial/premature withdrawal from PPF account. But note that only one partial withdrawal is allowed per financial year. That is, you can withdraw money only once in any financial year.

This is the essential rule of withdrawal
There is also a rule on the maximum amount that can be withdrawn per financial year. 50% of the balance in the account at the end of the financial year preceding the current year or 50% of the balance of the account at the end of the fourth financial year preceding the current year, whichever is less. will be allowed.

Know the process now
Download the PPF Withdrawal Form (Form C) online from your bank’s website or you can get it from the bank branch. There are three sections of the PPF withdrawal form that you need to fill.
(a) Declaration Section: Here you have to enter your PPF account number and the amount you want to withdraw. Also, you need to specify for how many years the account has been active
(b) Office-Use Section: Here, you have to fill the details like date of account opening, current total balance, date of last withdrawal (if any), total withdrawal made from the account etc.
(c) Bank Detail Section : Bank account number and other required details of the account to which the withdrawn amount should be deposited

deposit in bank
Attach a copy of PPF passbook with Form C. Submit it at your respective bank branch. PPF currently offers an interest rate of 7.1% per annum. This interest rate is reviewed on a quarterly basis. Under this scheme an investor can invest a minimum of Rs 500 and a maximum of Rs 1,50,000 per year. The basic tenure of this plan is 15 years after which the account matures and the amount can be fully withdrawn. After completion of 15 years, you can carry it forward for one or more blocks of every five years.
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