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What are the Features of a PPF Account?

Here are the main features to know about before opening a PPF account: 
 

Tenure of Investment

The minimum tenure is 15 years. It can be extended in blocks of 5 years upon maturity.

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Minimum and Maximum Contribution

You can invest a minimum of ₹500 and up to ₹1.5 lakh in the PPF scheme per year. Deposits can be made in a lump sum or in up to 12 instalments annually.

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Interest Rate

The interest rate of PPF is announced quarterly by the Government of India. Currently, it offers one of the highest returns among fixed-income schemes while ensuring capital safety.

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Loan Against Investment

 

Account holders can avail of loans against their PPF investment at a reasonable rate of interest after the completion of five years. 

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Tax Benefits**

 

Your PPF investment qualifies for a deduction under Section 80C of the Income Tax Act. Both, the interest earned, and the maturity proceeds are exempt from tax.

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Nomination Facility

You can nominate a family member when opening a PPF account or at any other point in time.

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Access and Portability

A PPF account can be opened in designated banks and post offices across India. You can also open a PPF account online. It is also transferable across branches and institutions.

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Risk-Free Returns

Since PPF is government-backed, the risk of losing money is negligible. It can be a preferred option for conservative investors.

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What Are the Key Highlights of the PPF Scheme?

Here is a table highlighting the key details of the PPF scheme:
 

 

Particulars

 

Details

Minimum Contribution

₹500 per year

Maximum Contribution

₹1.5 lakh per year

Lock-in Period

15 years (extendable in 5-year blocks)

Interest Rate of PPF

Decided quarterly by the Government

Tax Benefits**

Deduction under Section 80C + Tax-free interest earnings and withdrawals

What is a PPF calculator?

A PPF calculator is an online tool that helps you estimate how much wealth you can accumulate through your contributions (as per the relevant applicable interest rate). It requires you to add the following details to provide an estimate: 

 

  • Annual Contribution: The amount you plan to invest

  • Tenure: The duration for which you plan to invest (Minimum 15 years)

  • Interest Rate: Current PPF rate (if you are planning to invest right away)


By entering these details, the PPF calculator provides a projection of maturity value. It helps investors plan their PPF contributions more effectively.

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Importance of a PPF Account

The Public Provident Fund scheme is important for individuals who want to build a disciplined savings habit while ensuring financial safety. 

 
  • Since it is government-backed, the risk of losing your PPF investment is negligible. 
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  • PPF is also one of the few instruments that gives triple tax benefits - deduction under Section 80C, tax-free interest, and tax-free maturity proceeds.** 
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  • Beyond safety and tax savings, a PPF account is a great way to create a long-term financial cushion, particularly for retirement.
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  • Compared to other short-term options, the lock-in period of PPF ensures that your money grows uninterrupted over the long term.
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What Are the Tax Benefits of A PPF Account?**

The PPF scheme offers attractive tax advantages:
 

 

Tax Benefit

 

Details

Deduction on Contributions

Deposits made into a PPF account qualify for deduction under Section 80C of the Income Tax Act, up to ₹1.5 lakh annually.

Tax-Free Interest

The interest earned from a PPF account is completely exempt from taxation.

Tax-Free Maturity

At the end of the 15-year term, the maturity amount and withdrawals are fully exempt from tax.


Thus, the Public Provident Fund is one of the few schemes in India that enjoys an E-E-E (Exempt-Exempt-Exempt) status. PPF contributions, earnings, and maturity are all tax-free. You can grow your retirement corpus while being assured of tax savings.

Eligibility Criteria for a PPF Account

To open a PPF account, here are the eligibility conditions:

  • It is available only to Indian residents.

  • Non-resident Indians (NRIs) cannot open a new PPF account. If they have an existing account opened before they became an NRI, they can continue it until maturity. Extensions beyond the 15-year period are not allowed for NRIs. 

  • A person can have only one PPF account in their name (except for a minor’s account where the parent acts as a guardian).

  • Hindu Undivided Families (HUFs) are not eligible to open a PPF account.

  • Both salaried and self-employed individuals can open a PPF account with a minimum deposit of ₹100. The annual contribution should be a minimum of ₹500 (maximum: ₹1.5 lakhs). 

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How to Open a PPF Account?

You can open a PPF account online through your bank’s digital platform or offline via a post office. Both methods are simple and require basic KYC documents.

 

  • Online Process (via Internet/Mobile Banking):

  • Log in to your bank’s net banking or mobile banking portal and select the ‘Open a PPF Account’ option.

  • Choose whether you are opening it for yourself (Self Account) or on behalf of a minor (Minor Account).

  • Fill in the Public Provident Fund scheme application form with the required details.

  • Enter the amount you want to deposit for the financial year.

  • Submit the form and verify using the OTP sent to your registered mobile number.

  • Your PPF account number will be generated. Confirmation will be shared on your registered email.

  • Offline Process (via Post Office or Bank):

  • Collect the PPF account opening form from your nearest post office/bank or download it online.

  • Submit the filled form along with your KYC documents and a passport-size photograph.

  • Make the initial deposit. 
     

Once approved, you will receive a passbook containing all your Public Provident Fund scheme details.

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Linking Aadhaar to the PPF Account Online

Linking your Aadhaar to your PPF account helps for verification purposes and ensures smooth transactions.

Understand how to link your Aadhaar card to your PPF:

  • Log in to your internet banking account.

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  • Navigate to the PPF section and choose the option to link your Aadhaar details.

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  • Enter your Aadhaar number and finalise by clicking on ‘Confirm’.

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  • Choose the PPF account you wish to link the Aadhaar card to. 

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  • Once confirmed, your Aadhaar will be linked to your account.

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To check the link, you can go to the ‘Inquiry’ section and verify the Aadhaar linking for yourself. 

 

Understanding the Loan Facility Against the PPF Scheme

A unique feature of the Public Provident Fund scheme is the ability to take loans against the balance in your account. It is allowed from the third year until the sixth year of the account.

  • Loan amount can be up to 25% of the balance in your PPF account at the end of the second year.

  • The PPF loan must be repaid within 36 months.

  • If repayment is made on time, a low rate of interest is charged.

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Are Withdrawals Allowed in PPF?

Yes, withdrawals from a PPF account are permitted, but they are subject to certain conditions.

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According to the PPF withdrawal rules, partial withdrawals are allowed only after the completion of the fifth financial year. 

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The maximum withdrawal allowed is up to 50% of the balance in the PPF account at the end of the fourth year, or the year immediately preceding the withdrawal, whichever is lower. While investors have some liquidity, the majority of the PPF corpus remains invested for long-term growth.

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At maturity (15 years), you can withdraw the entire PPF balance tax-free or extend the account for another 5 years.

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How To Withdraw Money from PPF?

Investors need to fill out Form C and submit it to their bank or post office branch. 

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The form requires details, such as the amount of withdrawal and PPF account information. 

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Once processed, the requested sum is transferred directly to the account holder’s bank account.

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Note that you will have to attach a copy of your Public Provident Fund scheme passbook along with the application. 

Transferring a PPF account


If you shift to a new city or want to move your PPF account from one bank or post office to another, you can transfer it easily.
 

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  1. Visit the bank or post office where your current PPF account is held.

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Fill out the transfer request form and submit it with your Public Provident Fund scheme passbook.

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The existing branch will send your account documents to the new branch.

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Visit the new branch, fill out the account opening form, and submit it along with the old PPF passbook.

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Once the new branch processes the request, you will receive a new PPF passbook with your existing balance.


Note that the transfer does not change your account’s maturity date or balance; everything continues as before. If needed, you can change your PPF account nominee during the transfer process. 
 

Re-activating an Inactive PPF Account


If you forget to deposit the minimum ₹500 in a financial year, your PPF account becomes inactive. 

To reactivate:

 

  1. Submit a written request to the bank or post office where your account is held.

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Pay a penalty of ₹50 for each year the account has been inactive.

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Deposit the minimum annual contribution of ₹500 for each year you have not made the contributions.

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Once these payments are made, the PPF account will be reactivated, and you can continue using it.

Closing a PPF Account

A PPF account normally matures after 15 years. 
 

Closure is possible under certain conditions:

 

On Maturity (after 15 years)

If you want to close the PPF account after it has matured, you can withdraw the full balance along with accumulated interest. You can also extend the account in blocks of 5 years.

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Premature Closure

It is allowed only after 5 years of account opening, and only in specific cases such as serious illness, higher education, or a change of residence status (becoming an NRI).

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Process to Close a PPF Account:

Submit a closure form (Form C), along with documents like your PPF passbook. You might also need to submit proof of reason for premature closure. The bank or post office will verify and release the funds into the bank account linked to your PPF scheme account. 

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FAQs

View All FAQ

What is the best age to invest in PPF?

Answer

The best age to invest in a Public Provident Fund or PPF is as early as possible in your earning years. Since PPF has a 15-year lock-in and earns compound interest, starting young helps build a larger corpus by maturity. You can extend your PPF account in blocks of five years until you feel the time is right for complete withdrawal. This makes the Public Provident Fund scheme ideal for long-term financial planning and stability.

What is the minimum lock-in period for a PPF investment?

Answer

A PPF investment has a minimum lock-in period of 15 years. During this time, the deposited amount cannot be fully withdrawn (though partial withdrawals are allowed after the completion of the 5th year, under specific conditions). After maturity, if you choose to extend the PPF account, you can do so in blocks of 5 years.

How many PPF accounts can one have?

Answer

Only one PPF account is allowed per individual, except when a guardian opens an account on behalf of a minor.

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