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What happens after the maturity of PPF account?

In India, PPF is the most popular savings-cum-tax saving investment scheme for various investors. Wish to know what happens after the maturity of PPF account? A PPF account matures after a period of 15 years from the end of the financial year in which it was opened. After maturity, the beneficiary has three options:

  1. Withdrawal of Maturity Amount: The beneficiary can debit all the amount including the interest gathered after completing the maturity period of 15 years from the end of the financial year in which it was opened.
  2. Extension of PPF account without making a further contribution: Within one year of the account maturity, if the beneficiary doesn’t take up any action, then this is the default option. Only one contribution is permitted within a year and the rest of the maturity keeps on earning interest.
  3. Extension of PPF account by making contribution: In this, the beneficiary can put money even after the maturity, but the beneficiary can only withdraw 60% of his/her PPF amount and that too is only allowed once per year.

 

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