Many plan to invest now as part of future planning. But there are various options in terms of investment. Some venture into the stock market, while others rely solely on reliable government investment firms. And in that case, as there are several banks, so is the popularity of the post office. This reliable central department along with various state-owned banks is one of the places where people trust.
Now there are various schemes in banks and post offices. Fixed Deposits and recurring deposits are two popular financial schemes. Also, another popular financial plan is the Public Provident Fund or PPF. It is a very profitable project. That is why PPF is considered one of the popular long-term savings schemes. Currently, keeping money in this fund earns 7.1 percent interest. But if someone wants to close this fund in the middle or withdraw money, then it is possible in some cases. Take a look at some of the terms.
● Physical Illness: This PPF account can be closed if the Public Provident Fund account holder himself or someone in his family is physically ill. But in that case specific and proper medical certificate must be submitted.
● Children’s education: The PPF account can be closed as needed to meet the education expenses of the account holder’s children. In this case, school or college admission or registration documents must be submitted.
● Change of address: This amount can be withdrawn in case of permanent change of address of PPF account holders. But in that case, a passport, visa, or certain documents have to be submitted.