Postal PPF Scheme Details and Benefits. Public Provident Fund (PPF) may be a savings scheme well-known for its guaranteed returns and tax benefits. to form PPF accessible for everybody including those from remote areas, the govt. allows users to open a PPF account at India Post Offices.
A Post Office PPF Account is that the same mutually opened with public or private banks in terms of key features, interest rates and other regulations. The procedure of opening a PPF account at a post office is additionally similar and requires the identical set of documents. Here is all you wish to understand about PPF account opening at post offices.
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Postal PPF Scheme Details and Benefits
Eligibility Criteria for opening a PPF account in Post Office
- Any resident Indian including salaried, self-employed, pensioner, etc. can open a PPF account at a post office
- The total number of PPF accounts including post office PPF account that an individual can open is restricted to one and joint operation is not allowed
- Minor PPF account can be opened at a post office by a parent/guardian on behalf of a minor child. This too is restricted to one minor PPF account per child
- Non-residents are not allowed to open a new PPF account. However, in case a resident Indian becomes NRI prior to maturity of the PPF account, he/she can continue operating the account till maturity
