PPF (Public Provident Fund) Account

Required documents

• Aadhaar card
• PAN card
• Passport-size photograph
• Address proof
• Nomination form details

Eligibility

• • Any resident individual Indian citizen can open one PPF account in their own name
• • A guardian can open one account on behalf of a minor
• • NRIs cannot open a new PPF account, though an account opened while a resident can continue until maturity without a further extension

Step-by-step guide

1. 1

   Visit a post office or a PPF-authorised bank branch (or that bank's net banking, where offered).

2. 2

   Fill Form A (account opening form) and submit KYC documents (Aadhaar, PAN, photo, address proof).

3. 3

   Make the initial deposit — minimum ₹500.

4. 4

   Collect your PPF passbook (or note your account number for online banks).

5. 5

   Add a nomination and set up subsequent yearly deposits (lump sum or instalments) before 5 April each year, where possible, to maximise interest for the year.

Frequently asked questions

Common mistakes to avoid

• • Missing the ₹500 minimum yearly deposit, which discontinues the account
• • Depositing more than ₹1.5 lakh in a financial year — the excess earns no interest and isn't eligible for 80C benefit
• • Not adding a nominee, which complicates claims for the family later
• • Depositing after the 5th of the month, which loses that month's interest calculation (interest is calculated on the lowest balance between the 5th and end of the month)

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