Can I terminate or close the Public Provident Fund (PPF) account before maturity?
Premature closure is allowed only after the account has completed five financial years, where:
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The amount is required for the treatment of serious ailments or life-threatening diseases of the Account holder, spouse or dependent children or parents, on the production of supporting documents from a competent medical authority
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That the amount is required for higher education of the account holder or the minor account holder, on production of documents and fee bills in confirmation of admission in a recognised institute of higher education in India & abroad.
Here, the entire corpus amount would be withdrawn and the account closed. Please note that the interest on your account is recalculated at a rate lower by 1%. This is applicable since the date of account opening or extension, as applicable.