Closer of PPF account

I have a PPF Account with State Bank of India since July 2007. I want to close the account, and invest the amount on MFs, but State Bank of India told me that I cannot close it before 15 years. Is there any way out?

I am afraid you cannot close it before completion of 15 years. The PPF account is a 15-year contract. It can be terminated only on the death of the account holder.

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Originally Posted by Shikha Sharma

I have a PPF Account with State Bank of India since July 2007. I want to close the account, and invest the amount on MFs, but State Bank of India told me that I cannot close it before 15 years. Is there any way out?

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You can only do partial withdrawal, that too only after five years of opening the account.