I recently learned about opening a PPF account to save some amount in taxes. I have been exploring my investment options and this seemed like a good long term investment. The only concern I had was regarding the PPF account age limit. I wanted to know if age is a bar or not. I am an adult so I was almost sure I could make the investment but what about minors and old people, can they? This irked me so I started reading about this scheme. I will tell you here what is the age limit for opening PPF account or Public Provident Fund account. Read closely.
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[widget_homeLoan_checkEligibility_form] Is there any age limit for PPF account?Yes, there is a minimum age limit of 18 years for someone to operate their PPF account on their own. But as far as opening a PPF account is concerned, there is no age limit for it.
PPF account is a good investment scheme for people of all ages. It gives them an opportunity to save long term and reap benefits out of it in the long run.
For example, if you have a child and you start a PPF account in their name as a guardian, you will have already saved lakhs of rupees by the time they enter college. This way, you don’t have to worry about the tuition fee and admission fee.
Similarly, if you are an adult who starts investing in PPF account, you will have a secure future during retirement.
I hope your doubts around PPF account age limit and its impact are clear now.
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Is there any age limit for PPF account?
Ritu
239Views
2 Year
2022-05-10T13:16:16+00:00 2022-05-10T13:25:12+00:00Comment
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