Public Provident Fund (PPF) is one of the most popular saving schemes because it’s considered as limited risk-free investment tool. 

The contributions made in PPF for up to an investment of Rs 1.5 lakh help you earn income-tax deduction benefits under Section 80C. 

If you don’t need the money immediately or in the coming years, it’s prudent to extend the account maturity by a couple of years. 

Close the PPF account

There are three different options that you can exercise:

Close the PPF account You can choose to take out the entire PPF corpus tax-free after which the account gets closed.

Extend for five years without contributions

Extend for 5-years WITH Contribution

If you choose to extend the account then you will have to make (at least minimum) contributions to the PPF account every year. The account balance and fresh contributions will continue to earn interest.

For those who are still young and in 30-40s, there are chances that you may not need PPF money in the next couple of years. It is better to continue with it ‘with contributions’. If you are young then make sure to invest in other investment options as well.