PPF account rules: Can you open more than one Public Provident Fund Account

The Public Provident Fund (PPF) is a popular, government-managed long-term savings scheme offering tax-free, fixed returns. Crucially, individuals can open only one PPF account; multiple accounts are invalid.

New Delhi: Public Provident Fund (PPF) is considered one of the most popular long-term savings scheme in India. It is controlled and managed by the central government and offers guaranteed and fixed returns. The returns are tax-free. Lots of confusion still persists whether more than one PPF account can eb opened in the name of a single individual. The current rate of interest on PPF is 7.1% per annum.

Understanding the Single PPF Account Rule

According the PPF........

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