PPF Forms – Open New Account, Withdraw Balance and Loan

Updated: 07-06-2023 10:58:36 AM

Public Provident Fund or PPF scheme is a long-term investment option launched by the Government of India, with a lock-in period of 15 years. The scheme offers an attractive rate of interest and returns on the invested amount to its investors. Investments made in PPF intend to help the investors make small savings for the long term and also offer them the benefit of tax exemption under Section 80C of the Income Tax Act. PPF investments are risk-free, offer guaranteed returns and protection of capital. But to either apply online, withdraw, take loan or file nomination, PPF forms are required. There is a separate form for every task.

Benefits of PPF

Public Provident Fund offers the following benefits:

• Investors are eligible for pre-withdrawal of a part of the corpus
• Investors of PPF can borrow loan against their PPF balance under certain specific situations
• An adult investor may open additional accounts under the name of his/her children or spouse as well
• PPF account can be opened with an amount as low as Rs. 100
• An investor is allowed to invest a maximum of Rs.1.5 lakh to his/her PPF account in a financial year. Moreover, the amount can be invested either in lump sum or in installments
• Investors can also apply for pre-mature closure of their PPF account

In order to avail these benefits, investors must mandatorily fill a few PPF forms and submit them on the online portal. Given below is a list of documents and their purpose.

PPF Forms	Purpose
PPF Form A	Account Opening
PPF Form B	Contribution
PPF Form C	Partial Withdrawal
PPF Form D	Loan
PPF Form E	Nomination
PPF Form F	Change of Nominee
PPF Form G	Claim
PPF Form H	Extension

It must be noted that some of these PPF forms are now available only on the online portal as certain specific banks have moved some PPF procedures like account opening or contribution to the PPF account online only.

PPF Forms for Various Purposes

Let us find out the details of these PPF forms and the purpose of using each form.

PPF Account Opening Form

PPF Form A is used to open a PPF account. The form asks for the following details- 

1. • Account holder’s Name 
   • Account holder’s Address
   • Cheque of your registered bank account with the amount of the initial deposit

If you are opening an account for a minor you have to mention – 

1. • Name of the minor
   • Minor’s date of birth
   • Your relationship with the minor
   • A declaration that you do not have any other PPF account except in the name of a minor

It must be noted that some banks like ICICI Bank only allow you to open a PPF account online. In such a case, you would have to submit these details online.

You can visit the respective bank website to get PPF Form A.

PPF Contribution Form

Investors must fill and submit the PPF Form B in order to make contributions to their PPF account. PPF Form B is also referred to as PPF Contribution Form or PPF Deposit Form. The following details must be provided-

• Subscriber’s name
• PPF account number 
• amount to be credited 

Investors can also use this form to repay a loan that they may have taken against their PPF balance or to pay interest on such a loan. One can also use the form to pay fees or late penalties. However, certain banks that allow online contributions to the PPF account, do not require this form.

PPF Partial Withdrawal Form

The Public Provident Fund allows its investors to make partial withdrawals from their accumulated corpus under certain conditions such as child’s education, wedding, medical emergencies, etc. However, you can withdraw this amount only after the completion of 6 years from the year in which your PPF account was opened. If you wish to make a partial withdrawal from your PPF account, you must submit PPF Form C which requires the following information-

• PPF account number 
• Amount of money to be withdrawn 
• Number of years elapsed since the expiry of the year in which you opened the PPF account
• Mode of amount transfer (Registered savings account or Demand Draft) 
• Affix a revenue stamp to the form

It must be noted that if the PPF account is in the name of a minor, an additional declaration stating that the withdrawal amount is required for the use of a minor child who is still a minor and is alive. You also have to submit a passbook along with the form.

PPF Loan Form

If you wish to borrow a loan against the balance accumulated in your PPF account, you must submit PPF Form D along with the following details- 

• PPF account number
• Amount of loan required 
• An undertaking that the amount will be repaid with interest within three years
• Copy of your PPF passbook

PPF Nomination Form

Investors have an option of adding a nominee to their PPF account, who in case of unexpected demise of the account holder, will be liable to receive the benefits of PPF account. It must be noted that nomination for PPF account can be made at any time during the tenure of the account. To do so, the account holder must submit PPF Form E along with the following information- 

• Name of the account holder 
• Name of the nominee  
• PPF account number
• Address of the nominee 
• Date of birth, if the nominee is a minor

Additionally, if the nominee is a minor, you have to state the name and address of the person who will receive the amount for the nominee, during his minority. If you have more than one nominee, you have to specify the share of each nominee in the PPF account.

PPF Change of Nomination Form

If you are a PPF account holder and wish to change, cancel or alter your nomination, you must submit the PPF Form F. To do so, you will have to mention the following details- 

• Date of the original nomination in the cancellation form
• Account holder’s name 
• Name of your nominee 
• PPF account number 
• Address of the nominee 
• Date of birth of the nominee, if he/she is a minor

Further, if the nominee is a minor, you have to state the name and address of the person who will receive the amount for the nominee until he/she becomes an adult. If you have more than one nominee, you have to specify the share of each nominee in the PPF account.

PPF Claim Form

PPF Form G is made available to the nominees to make a claim for the PPF account in case of the account holder’s demise. As part of the process, the nominee must submit PPF Form G along with the details such as-

• Account holder’s death certificate
• Succession certificate
• PPF passbook
• Letter of Indemnity
• Affidavit 
• Letter of Disclaimer on the Affidavit
• PPF form
• Signed acknowledgement of receipt of the PPF amount 
• Re. 1 Revenue stamp attached to the form

However, if there is no nominee, the legal heirs can claim the PPF amount of the account holder using this form. No other PPF forms shall be required in this case.

PPF Extension Form

If you wish to extend your PPF account for another 5 years (called the Block period) even after the completion of its maturity period, which is 15 years, you must submit PPF Form H and follow the given guidelines-

• The Extension Form (PPF Form H) must be submitted within 1 year of maturity
• Once Form H is submitted, you can continue to contribute towards the PPF account and earn interest on the fresh contributions
• The extension is done in blocks of five years at a time
• If you fail to submit Form H within 1 year of maturity, you cannot make fresh contributions to the PPF

PPF Closure Form

As a rule, account holders are allowed to close their PPF account only upon its maturity, which is 15 years. Upon completion of this tenure, the entire amount standing credit to the account holder along with the accrued interest can be withdrawn and the account can be closed. However, the date of maturity will be calculated from the end of the financial year in which the account was opened. To do so, the account holder must visit the bank or the accounting office and apply for a full PPF balance withdrawal.

Kindly note that you will have to submit PPF Form C for claiming full withdrawal upon maturity of your PPF account. You must furnish the following information in the form-

• PPF account number 
• Amount of money to be withdrawn 
• Number of years elapsed since the expiry of the year in which you opened the PPF account
• Mode of amount transfer (Registered savings account or Demand Draft) 
• Affix a revenue stamp to the form

Also Read: All that you should know about Public Provident Fund