How to Open a PPF Account for Your Child?

What Is a PPF Scheme?

How to Open a PPF Account for Minors?

What is the Eligibility for Opening a PPF Account for a Child?

What are the Documents Required for a PPF Account for Minors?

What are the Things to Consider Before Opening the PPF Account for Your Child?

FAQs about Opening a PPF Account for Minors

Can I close the PPF account of my child? up-arrow

A guardian or parent is only allowed to close the PPF account of a minor in specific cases like if the account holder is undergoing any serious medical treatment. However, one can raise a request for closing the account only after the completion of 5 years of opening the account.

What is the minimum age for opening a PPF account? up-arrow

There is no age limit restriction for opening the PPF account of a minor. However, the account can be only handled by their parent or guardian on their behalf until the account holder turns 18.

What will happen if I deposit more than 1.5 lakh in a PPF account? up-arrow

According to the law, one is not allowed to deposit more than Rs. 1.5 lakh in a financial year in one’s PPF account. And even if you do so, you are not eligible for any tax benefits or interest on your excess funds.