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| Name of the scheme | 1-year back | Invest now | Fund category | expense ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest now | Equity: Big Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest now | Equity: Big Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest now | Equity: Big Cap | 0.25% |
| Axis Nifty 500 Index Fund | , | Invest now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest now | Equity: Mid Cap | 0.28% |
The lock-in period for Public Provident Fund (PPF) account is 15 years. However, the withdrawal is limited during this time, and usually the account is not allowed to be closed quickly.
Account holders are allowed to withdraw the balance after five financial years from the date of opening the account. You can withdraw up to 50% of the balance at the end of the 4th financial year before the return.
Premature closure of PPF account is allowed only under certain conditions, such as medical emergency, higher education expenses, or changes in residence conditions (becoming NRIs). However, as a punishment for early closure, 1% of interest generated is deducted.
The account cannot be closed at least five years before the end of the year in which it was opened. The account holder will have to support Documentation in Form 5 and Bank or Post Office, where a PPF account is conducted to pre-stop the account.
You cannot take back a partial amount during pre-close and this entire account should be returned.
How to close a PPF account: step by step
There is a step-by-step guide how to pre-close to a PPF account.
Go to the bank or post office where the PPF account is conducted.
Fill Form 5, which is a PPF account closed form.
Submit the documents required to justify your PPF account.
For medical emergency conditions, provide medical reports and hospital bills.
For higher education, submit the admit card and fee receipts.
In case of changes in Residency Status (NRI), provide evidence such as visa and passports.
After verification, the bank/post office will process the request.
Once this happens, the remaining amount will be transferred to your linked savings account.
The process takes 7-10 working days on the basis of bank/post office.
Also read What is a fixed deposit and how it works
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