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  1. “If you already have a PPF account in your name then you are not eligible to open another PPF account in your name.”

    Does it mean that if anyone has a PPF account anywhere in India in any Bank then he is not allowed to open another PPF account anywhere across others banks like ICICI or can one open multiple PPF accounts in seperate banks.

    • Number Of PPF accounts allowed to be opened by a Single Person in India?
      Yes, it means one person can open only one account in his/her name. You cannot have multiple PPF accounts in your name in different banks.
      But you can open a PPF account on behalf of a minor of whom you are guardian (the maximum limit of tax deduction will be Rs 1 lakh).
      For More Details On PPF Read :- http://www.fingyan.com/public-provident-fund-ppf-scheme/

  2. I have two questions:

    (1) If a minor’s PPF Account matures while he/she is still a minor in whose
    name will the proceeds be – minor’s or guardian’s.

    (2) Is there a way to change a minor’s name in the account held under one’s
    natural guardianship.

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