Public Provident Fund ( PPF ) was introduced in India in 1968 by the National Savings Institute of the Ministry of Finance under Indira Gandhi’s tenure. The Central Government is fully backing up this scheme and this is the reason why the investors with less-risk appetite choose this type of investment.
Read More on PPF (Public Provident Fund) Scheme
In PPF, the depositor should know about these forms to avail the benefits of PPF at the right time.
List of all forms you should know :
List of Forms
Purpose of the Form
|Form A||Public Provident Fund account Opening Form|
|Form B||Contributions in the PPF and loans repayment|
|Form C||Partial withdrawals from the PPF account|
|Form D||To avail a loan against the PPF|
|Form E||Nominee addition for the PPF account|
|Form F||Nominee updation in the PPF account|
|Form G||For the claiming of funds in a PPF account by a Nominee or the Legal heir|
|Form H||For Extention of the PPF account (block of 5 years)|
Few of the above mentioned forms are now available in online mode like account opening (Form – A) and contributions (Form-B) is available in digital.
Application for opening a Public Provident Fund
- You can print the Form- A from post office here.
- Online application in some banks doesn’t require this form.
Contribution in Public Provident Fund
- Deposit form looks like this – FORM-B
- Even in post office, you may use their app to deposit.
- Online contributions doesn’t require this form.
Partial Withdrawal in Public Provident Fund
The Public Provident Fund allows its investors to make partial withdrawals from their accumulated corpus under certain conditions such as child’s education, child’s wedding, medical emergencies, etc. However, you can withdraw this amount only after the completion of 6 years from the year in which your PPF account was opened.
Know your Eligible withdrawal amount in the below table.
You can find the link to PPF Form C here.
Loan Form in PPF
- The loan can be opted using the PPF account between the 3rd and 6th financial year from the date of account opening.
- Maximum loan amount will be 25% of the balance available at the close of two years preceding the loan applied year.
- Please see the below table for the maximum eligible loan amount if you invested the Maximum limit of 1.5Lakhs per year.
- The Interest rate for the loans will be 1 percent higher than the PPF Interest as per the new rules, Earlier it was 2%.
If you wish to apply for a loan against the balance accumulated in your PPF account, you must submit PPF Form D
Nomination in PPF
The nomination for PPF account can be added at any time during the tenure of the account (15 years). To add a nominee, account holder must submit a PPF Form E.
Change of Nominee in PPF Account
If you are already a PPF account holder and wants to change your nomination which you made already, you have the option to do that. You must submit the PPF Form F.
Claim Form in PPF
In PPF, it’s mandatory to have nominee while opening the account.
The nominee has two options,
- to either withdraw accumulated corpus amount and close the account. -> For this Option, Nominee has to submit this Form-G.
- or to let the account be open till maturity and continue to earn interest but there is a limitation that no additional payments can be added.
Extension in PPF
If PPF account holder wish to extend their PPF account for another Block period of 5 years after 15years, they must submit PPF Form H. If you submit Form-H, Contributions shall be made as like before to continue earning interest.
Please check out PPF Calculator to calculate your returns
Happy investing !