In this post we will review the PPF Withdrawal Rules in SBI. But before that, in the recent TV interview by the Hon’l Prime Minister of India Narendra Modi, he was mentioning that Tax limit might be extended by 3,00,000 INR which might come as a good news and this makes way for better investment and better future savings, so investing in PPF Account at least will be better compared to any other means of savings. So now we will review the PPF SBI Rules for withdrawal.
PPF Withdrawal Rules in SBI
SBI PPF Scheme is one of the best medium to open PPF Account in SBI as PPF SBI offers a range of benefits, which is not limited to transfer to different SBI Branch across India and SBI PPF Account Online Access, range of benefits from SBI PPF Account Rules and much more in the cards, all these will be discussed in later posts.
Now let’s see the PPF Withdrawal Rules in SBI. According to PPF Rules in India a user can withdraw from PPF SBI Account after the completion of 6 years. See a chart below for more information
In the above case a user can withdraw money from his / her PPF Account only at the end of 6th Year of operation, so its ideally 7th year beginning. The PPF Withdrawal Rules in SBI states that the maximum amount of withdrawal from PPF Account is 50% of the amount retained / remaining in the ppf account in the end of 4th year. In the above example its 3,55,293.45 INR and 50% of this amount is 1,77,646.73 INR and so the Withdrawal Rules in SBI PPF continues till the end of 12th year of which the amount can be withdrawn during the 15 year end. So ideally in PPF Withdrawal Rules in SBI is valid from 7th year end to 15th year end. This amount can be used for any emergency purpose or for higher studies.
Note: Even after withdrawal from SBI PPF, a user can continue to invest in PPF Account after the completion of 15 years by extending his lock-in-period for another 5 years.
In the next post we will learn more about sbi ppf loan rules and sbi ppf loan form download.