PPF account provides a good interest rate of 7.1%, and contributing to PPF is a safe investment option. But the rules of PPF are becoming more stringent day by day. And your PPF account can be termed as irregular if any discrepancies are found. And the contributions can totally stop if it becomes irregular. Getting a PPF account to operate normally again can become a hefty process, so it is important to know what are the important guidelines to follow while contributing to PPF. One of the important points we should remember is ‘can PPF account be opened in joint name?’ I will tell you about this below.
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As per the guidelines, there is no provision to open a joint PPF account. If a PPF account has opened jointly the deposit offices will take the responsibility to close such irregular accounts. But one can add a nominee for a PPF account. I hope this clears your doubts regarding ‘can we open joint PPF account?’
To add a nominee to a PPF account, you need to fill up Form F from the bank or post office from where you have created your PPF account. Fill out the form and submit it to the bank or post office. Nominations can also be changed if required.
You must remember that you can only have one PPF account.
I hope I was able to answer the question ‘ can PPF account be opened in joint name?’
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Authors Of The Question
Can PPF account be opened in joint name ?
Anusuya Bhattacharjee
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1 Year
2022-10-12T09:49:47+00:00 2022-10-12T09:49:50+00:00Comment
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