text: The 2016 amendment to the Public Provident Fund Scheme introduced changes to Paragraph 9, Sub-rule 3(C), allowing for the premature closure of PPF Accounts. Premature closure is now permitted after 5 years for the medical treatment of family members or for the higher education of the account holder. However, premature closure comes with an interest rate penalty of 1%.
  As per GOI, 12 December 2019 NOTIFICATIONS some new  rules for prematurely withdrawal added
  If there is a change in residency, the account holder must provide a visa, passport, or income tax return, or the account may be closed.
  Higher education expenses for oneself or dependents must be supported by fee bills or admission confirmation letters, or the account may be closed.  Remaining rules are same as demise of holder or medical condition of self or dependent.
  Transfer of PPF account
  The account can be transferred to other branches/ other banks or Post Offices and vice versa upon request by the subscriber. The service is free of charges.
  Step 1 – Approach the bank or post office branch where the PPF account is held and ask for the form for making the transfer. The bank or post office will provide you with a form which is to be filled.
  Step 2 – The existing bank will then forward the certified copy of the account, the account opening application, nomination form, and specimen signature. It will also forward the cheque/dd for the outstanding amount in the PPF account to the new bank at the branch specified by the customer.