If you want to withdraw money partially or fully from the PPF account, you need to submit Form C to the branch of the bank or post office where the PPF account was opened.
Here is the step-by-step process to withdraw funds from your PPF account with the bank
Step 1: You can download ppf withdrawal form OR Form C from the Bank’s website. It can also be obtained from your bank branch.
Step 2: Form C. has three sections
Let’s take a look at Form C state Bank of India
(Source: State Bank Of India website till 9,2022)
Announcement Section:
The first part of the form is the declaration section. In this section, you will have to provide your PPF account number and the amount you want to withdraw from the account. Apart from this, you also need to mention for how many years the account has been active.
If you want to withdraw money from the PPF account of a minor, then his name should be mentioned in the form.
Read also:
PPF Scheme: Here are 10 things you need to know
Office-Use Section:
The second part of the form is for official use. This part includes the following
1) Date of opening of PPF account
2) Total amount available in your PPF account at the time of withdrawal
3) If you have withdrawn money from your PPF account then your last withdrawal approval date
4) Amount available for withdrawal as per Para 9(1), 9(3) of PPF Scheme
5) Amount sanctioned for withdrawal
6) Signature and date of the person in charge concerned
Receipt Section:
The third section requires you to sign the form after filling or withdrawing the amount received.
PPF withdrawal form is available on HDFC bank Website
(Source: HDFC Bank website till 9,2022)
Step 3: You have to attach your PPF passbook with this application form. Finally put a revenue stamp on the form and sign it.
The sanctioned amount gets directly credited to your savings account of the concerned bank or you can request for a demand draft, as per SBI PPF Withdrawal Form and HDFC Bank website.
PPF Withdrawal: Can You Withdraw PPF Online?
“Banks have not yet fully automated the PPF withdrawal process. Hence, investors have to visit the respective bank branch with which they have opened the PPF account. Online PPF Withdrawal Online Check Eligible Withdrawal Amount Through Net Banking facility. However, investors are required to fill Form C and submit it at the respective bank branch or post office,” said Archit Gupta, Founder & CEO, Clear.