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How many PPF account can be opened?

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1 2022-05-10T13:28:05+00:00
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Hey, 

When I was looking for tax saving investment options, I came across this scheme. PPF or Public Provident Fund in my opinion is an excellent choice to park your savings and secure your future with minimum risk. But I had a concern. I wanted to know how many PPF account can be opened? I went to the bank and asked them the same question. I got to know some updates on the same which I believe you should know.

How many PPF account one can open?

Let me start by giving you the answer to this question. It’s ONE. You can only open one PPF account. 

Your home loan requirements, approval and disbursements can be resolved by experts at NoBroker. Fill out the information and get more details [widget_homeLoan_checkEligibility_form]

I know many people have opened more than one PPF account but there are government directions made on the same. 

I got to know that if someone had opened a second PPF account after December 12, 2019, their account will be closed automatically without bearing any interest. However, for the accounts which were opened before that date will be merged with others. 

Let me state an example, suppose you opened a PPF account in February 2014 and then you opened a PPF account in post office or other bank in July 2017. In this case the second PPF account will be merged with the first account. 

However, if you had opened a second PPF account in July 2020. Then your account will be closed and no interest shall be paid to you for the same.

I hope this clarifies your doubts on how many PPF account can be opened.

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