Breaking of PPF A/c?

I have a PPF a/c at Bank Of India,Its been 3 years since I opened the A/c.Now all of a sudden I have a family emergency (my mother has to undergo an operation) & I wish to break open the A/c.BOI tells me that I have to wait for 7 years but I wish to break it now as at that time it would do no good.

Is there any manner in which I can break this PPF A/c -even if It incurrs any deduction of any sort I am ready to bear that loss.Please Advise what can be done out of the box

3 Replies to “Breaking of PPF A/c?”

  1. the bank is right that you cannot take any money out from the PPF account before the 7th year. in other words u cant break the account. You can only close the account after paying the due taxes ( rebates which u got when u put money in PPF account ). Please approach the bank again with a request that u want to close the account. they will def help u out. I will repeat that taking out a part of your money is not possible before the 7th year in case u want to keep this account alive. but if u want to close the account for ever the bank should not have any problem.

  2. You can close the account – but you will be charged with for cancelling prematurely. also you may not be getting the complete benefit of the assured interest till the closing date/

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