In order to close the PPF account prematurely, the account must have completed at least 5 financial years. The account can be closed only to serve the following purposes:
To close the ICICI PPF account prematurely, a written application needs to be submitted to the bank branch where the individual had opened his PPF account, clearly stating the reason for the same. The applicant must also attach a copy of the PPF account passbook and supporting documents.
If the application is found to be genuine, the PPF account will be closed, but a penalty shall be levied upon the account holder.
