New PPF rules: The new guidelines by the Department of Economic Affairs have changed rules for the PPF accounts based on their holdings. The changes majorly affect minors, NRI and those having multiple accounts.
New PPF rules: If one PPF account has been opened in the name of a minor, the Post Office Savings Accounts (POSAs) interest rate will be paid until the minor becomes eligible to open a regular account at the age of 18.
The Central government has rolled back cuts on interest rates on small savings schemes like National Savings Certificates and PPF.
The Public Provident Fund, PPF, account can be opened in a designated post office or a bank branch. It comes with an initial lock-in period of 15 years. The interest on PPF is compounded annually.
Under the new rules, the amount in PPF account will not be liable to attachment under any order or decree of any court in respect of any debt or liability incurred by the account holder.
New Delhi: People can now deposit up to Rs 1.5 lakh annually in their Public Provident Fund (PPF) with the government notifying changes in the popular savings scheme.The government has issued a notification raising the
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