Exceptions for PPF Account (for Minors)
- While individuals cannot have two PPF accounts, there are exceptions for minors:
- Parents or guardians can open a PPF account on behalf of a minor child. This allows you to start building a financial corpus for your child’s future.
- Each minor can have only one PPF account, regardless of the guardian. So, if both parents want to contribute, they’ll need to use the same PPF account opened for the child.
Can I have 2 PPF Accounts?
No, You Cannot Have 2 PPF Accounts in Your Name. The Public Provident Fund (PPF) is a popular investment scheme in India, known for its attractive interest rates and tax benefits. But can you leverage these benefits by opening multiple PPF accounts? Let’s delve into the regulations and explore any exceptions.