if my ppf account matured in 2018 and i have not withdrawn the maturity amount for ho long can i continue to hold it and receive interests on it ? any risk of it of getting transferred to got for not having claimed ?
neha (Others) (420 Points)
07 July 2024if my ppf account matured in 2018 and i have not withdrawn the maturity amount for ho long can i continue to hold it and receive interests on it ? any risk of it of getting transferred to got for not having claimed ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169524 Points)
Replied 08 July 2024
Max. for five years it gets renewed. Contact the branch and get its status.
neha
(Others)
(420 Points)
Replied 09 July 2024
it has matured can cannot be renewed, hat they said is if u don't want to withdraw u can leave it as is and u continue to get interest on it but u cannot deposit anything into it....they r not telling me clearly if non withdrawal can transfer the fund to govt or not after a time period elapses
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169524 Points)
Replied 09 July 2024
As per the PPF scheme rules, 2019, a PPF account holder has three alternatives once the account matures:
a) Close the account and withdraw entire proceeds
b) Extend the account without fresh deposits
In case you do not inform the bank or post office about your preference after 15 years, this is the default option that becomes applicable to your PPF account.
c) Extend the account with fresh deposits
you need to inform the bank (or Post office) of this choice as in absence of intimation from you, it will be treated as PPF extension without contribution.
neha
(Others)
(420 Points)
Replied 09 July 2024
| Originally posted by : Dhirajlal Rambhia | ||
 |
As per the PPF scheme rules, 2019, a PPF account holder has three alternatives once the account matures: a) Close the account and withdraw entire proceedsb) Extend the account without fresh deposits In case you do not inform the bank or post office about your preference after 15 years, this is the default option that becomes applicable to your PPF account.c) Extend the account with fresh deposits you need to inform the bank (or Post office) of this choice as in absence of intimation from you, it will be treated as PPF extension without contribution. |
 |
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169524 Points)
Replied 09 July 2024
Yes, that is altogether different aspect. You cannot rewew it automatically after two terms.
neha
(Others)
(420 Points)
Replied 11 July 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169524 Points)
Replied 11 July 2024
CAclubindia
