How To Extend Your PPF Account?

Finance Guru Speaks: This article provides information on how you can extend your PPF account.

Public Provident Fund

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The investor can choose to extend the PPF with additional contributions or without fresh contributions. The rules for contribution to the extended account remain the same as during the 15 years. Once the choice is made for a block of five years, it cannot be changed.

Form Required: The investor has to submit Form H at the post office or bank where the account is held if he intends to continue with the subscription. The PPF Extension Form for SBI Bank is available at this link.

Note: You can also download PPF Account Opening Form for SBI Bank from this link.

Choice of Extension: The choice to extend the PPF account with a subscription has to be made within one year from the maturity of the account. If this is not done, then by default the account is deemed to have been extended without further contribution for five years.

Benefits of Interest Earned: The interest earned during the extended period of the PPF continues to be tax-free. There is no limit prescribed for the number of extensions of five years that are allowed for an account. The benefit of extension is not available to the NRIs who open the account before a change in their residency status.

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