Can I open a new ppf account after my previous ppf account matured?
Suppose I open a ppf account in 2020, at 2035 it matured and I didn’t extend that ppf account
but after 2035, can I open a new fresh ppf account again?
Did you explicitly close the account though?
Apparently, if one does not explicitly request the closure of the PPF account,
then the default option extends the PPF account without contributions (in blocks of 5 years).
[Source].
Based on what i have read online,
after closing a PPF account, one can open another PPF account.
However, doing this is not ideal compared to extending an existing PPF account.
The newly opened PPF account will have a lock-in period of 15 years, compared to extending an existing matured PPF account in blocks of 5 years each time.
[Source].
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Yes, you can open a new account after existing account matures and is closed.
i had opened the PPF account in 2005 .
when will the account get matured ?
what will happen if i forget the maturity date or the account becomes dormant ? will the interest would be keep getting credited and added in the account ?
Your account has already matured on 1st April 2021
Ideally interest would keep on getting credited. But then each bank has different rules.
I have also heard some banks auto renew account for 5 year block, other don’t.
Best to reach out to your bank and enquire with them.