PPF is a Favorite Among Working Professionals, Understand the Rules For Opening An Account

PPF Scheme Rules 2026: Nowadays, everyone is looking for safe investments. There are many investment schemes available that offer excellent returns. The government is currently operating the PPF scheme to benefit the public. People have great faith in this scheme because it is a government-backed scheme. There are many rules associated with this scheme that investors are unaware of. A common question regarding this scheme is how many PPPF accounts a person can open in their name. Let’s explore the answer to this question in detail.

What is the PPF Scheme?

PPF is a long-term savings scheme that provides a fixed interest rate on investments, determined by the Government of India. Individuals can deposit a minimum of ₹500 and a maximum of ₹1.5 lakh per financial year under this scheme. The account tenure is 15 years. During this period, the interest earned on the deposit and the maturity amount are completely tax-free. After completing 15 years, investors can extend the account in blocks of 5 years each.

Can more than one PPF account be opened?

According to PPF rules, an individual can open only one PPF account in their own name. Multiple accounts are not permitted, even with different banks or post offices. If you have opened a PPF account with the State Bank of India, you cannot open another account in your name with Punjab National Bank or a post office. Similarly, if you already have a post office account, opening a new PPF account with another bank would be against the rules.

What are the rules for minor children?

A key feature of this rule is that parents can open a PPF account in the name of their child under 18 years of age. This means you can have one account for yourself and a separate account for your minor child. It’s important to note that a combined investment in your and your minor child’s accounts in a financial year cannot exceed ₹1.5 lakh.

How to Open a PPF Account

PPF accounts can be opened at post offices or various public and private banks. You can apply online or by visiting a branch. This scheme requires submitting identification, address proof, and signature documents. Once the process is complete, you can deposit funds regularly into your account.

As of the second quarter of the financial year 2025-26, PPF offers an annual interest rate of 7.1 percent. This rate is fixed by the government from time to time. This scheme offers safe investment and tax benefits.