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Must Know Rules Before Opening PPF Account For Children

By SiliconIndia   |   Monday, June 30, 2014   |    2 Comments
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BANGALORE: The Public Provident Fund OR PPF is one of the most popular long-term investment options offered by the Central government for Indian residents. It is one of the rare investments that enjoy the EEE status which means Exempt on Investment, interest earned and maturity proceeds. It is one such long-term investment that fits into the portfolio of all investors that too with different risk profiles. You can always open a PPF account either directly through a post office or through a bank. Many of the parents’ look forward to opening a PPF account for their minors. Let’s have a look at some of the important points that need to be known before opening such an account:

Eligibility for opening a PPF account for minor

According to PPF rules, a guardian can open Public Provident Fund account for minor child, where guardian is either father or mother, if in case parents are not allowed than any other guardian under the law can open PPF account for minor children, for instance Uncle, Aunt, Grandmother and Grandfather, In case a surviving parent is incapable of acting, then also some other guardian can open PPF minor account.


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