PPF: Basics

What is a Public Provident Fund?

The Public Provident Fund (PPF) Scheme is a statutory scheme of the Indian Government under the provisions of the Public Provident Fund Act, 1968. ......

Who can open a PPF account?

Any individual can open a PPF account, either for himself/herself or on behalf of a minor. ......

Can two adults open joint PPF account?

No, two adults cannot open a joint PPF account. An account has to be opened singly with one or more nominations. ......

What is the process of PPF account transfer from a bank to a post office?

Read to know the process of PPF account transfer from a bank to a post office ......

PPF: Did you Know

What happens to a PPF account in event of the depositor's death? If a PPF account holder dies and there is no nomination, who gets the deposited amount?

If the amount is up to Rs. 1 lakh, the accounts office will pay it to the legal heirs of the deceased on receipt of application in prescribed form. ......

For how many years can a PPF account be extended beyond its initial 15 years of operation?

After the PPF account has been in operation for 15 years, it can be extended for five years at a time. ......

Can a PPF account be allowed to continue if the total deposit in a financial year falls short of the minimum of Rs.500 or should it be closed without interest?

If a subscriber does not subscribe Rs. 500 in the first year, subscriptions paid by him/her will be refunded to him without interest. ......

Is there any fee for cancellation or variation of nomination for PPF accounts?

No, there is no fee for cancellation or variation of nomination. Rule 12 of the Public Provident Fund (PPF) scheme has no provision for any such fee. ......