Partial Withdrawals from PPF

[Yogesh]

I am having PPF account since 2004. I am buying new home. I am talking home loan for the same. One of my office friend suggested me to take partial withdrawals from PPF. I am not aware about partial withdrawals.

Could you please let me know the procedure and how much I can withdraw?

Thanks in advance!

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[Investorboy]

Partial withdrawals form probably the best part of PPF. From the 7th year itself, the account holder is entitled to withdraw 50 percent of the balance to his credit at the end of the 4th or the 1st previous financial year, whichever is lower. This facility aids liquidity since the amount can be used for any purpose.

Hope now it clear!

[Yogesh]

I have few more queries on PPF withdrawal -
1- How many times, I can withdraw money from my PPF account?
2- Is there any effect of loan on PPF on my future withdrawal?

[Yogesh]

One more query -
Can I add my spouse to this PPF account? So that both of us can be benefited with rebate.

[narayan]

I have few more queries on PPF withdrawal -
1- How many times, I can withdraw money from my PPF account?

Once in an year.

2- Is there any effect of loan on PPF on my future withdrawal?

I am not sure, but I don't thinks that you can withdraw money, if you havn't paid back the loan amount.

One more query -
Can I add my spouse to this PPF account? So that both of us can be benefited with rebate.

No. Joint accounts are not acceptable.

[PolicyWala]

A subscriber can make one withdrawal during any one year. The first withdrawal can be made at any time after the expiry of 5 full financial years from the end of the year in which the initial subscription was made (i.e. from the 7th year onwards). The amount of withdrawal will be limited to 50% of the balance at credit at the end of the 4th year immediately preceding the year in which the amount is withdrawn or at the end of the preceding year whichever is lower.

Source - statebankoftravancore.com