“When preparation meets opportunity , Luck happens” . In this article we will see why one should should open a PPF account even if one does not need it or have no intention of putting his money in Debt , It may look idiotic , but we will see why it would make sense . We will also see an example which will help you understand things . But Manish , I don’t know what is PPF account ? you will say , Click here to Understand what is PPF account .
Imagine a situation , You need to invest your money in some debt product which gives you assured and good returns , but you don’t want it to get locked for long period , the maximum you want is 3-4 yrs of lock in . Is it possible right now is the question you need to ask ? NO!! is the Answer
- If you invest in PPF right now , the money will be locked in for 15 yrs (partial withdrawals allowed)
- If you invest in NSC , it will be locked for 6 yrs , but the interest would be taxable and hence your post-tax returns are again very less .
- Fixed Deposits are again not helpful , because there post-tax returns are not attractive enough . Even if you Choose the best Fixed Deposit , it wont help you .
- Debt funds are again not answer , because again there post-tax returns are less .
So how does opening a PPF account now helps us ?
Well, Definitely it cant help us at this moment , But imagine future , Lets say after 11 or 12 yrs , you need to invest some money for short term , at that time , you can put money in your PPF account and it will get matured in next 3-4 yrs and whole maturity amount would be Tax-free and earn you interest of 8% .
And it costs just Rs 500 per year for account to be active . So If you need the PPF account right now , Open it now and if you don’t need it right now , still Open one right now so that your Lock In period goes down by 1 every year . Also once in a while when ever you feel that you need your money to go in your Debt component , just use PPF and put your money into it . Read an article on Asset Allocation to understand the good mix of Equity and Debt Component.
So here is what I would suggest , Open PPF accounts on your name , your Spouse name , and your Children name at the interval of every 2-3 yrs , so that after 12-13 yrs , you have each PPF account maturing in a period gap of 2-3 yrs and you can use it as a investment product which gives 8% assured tax free returns 
.
Note : PPF returns are subject to change and is fixed by govt every year also .
Please comment to let me know if you think this does make sense to you , Is there any issues involved with this with i have not covered , your comments are valuable .
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{ 82 comments… read them below or add one }
HI
GOOD ARTICLE ON PPF , IN MY OPINION EVERY INDIVDUAL SHOULD OPEN HIS OR HER ppf ACCOUNT AS EARLY AS POSIBLE, IT WILL GIVE A GREAT RELIEF IN COMING YEARS OF THIR LIFE.
KHALID
You mentioned " Open PPF accounts on your name , your Spouse name , and your Children name at the interval of every 2-3 yrs".
Isn't it that an individual can have only one PPF account opened in his/her name at one point of time?
~sr
read it properly… its mentioned to open an account in his her name also he /she can open an account in the of a child or his wife or her husband at any time .
Nice idea
Instead of opening PPF, how about NPS ?
this is a very good concept,
wish i thought about it 30 years back !
I think in a family of self,spouse and single child,one can have only two PPF accounts,either on self and spuose or spouse and child or self and child etc..pl confirm if this isnt so
Wish I had learnt this much earlier in life. Anyways PPF is the best debt instrument and if you follow it with the 70k a year limit for taxes it is a perfect way of saving for the long run.Thanks for the information I hope people who havent immediately open their ppf account
Hi,
PPF and PF are they similar concept. Could you elaborate on this difference. I feel that the PF/EPF is better as the employer also contributes toward it. May be you can throw a light on benefits and disadvantages.
Regards,
Vipin
@khalid thanks , you are correct
@~sr Yes , a individual can have only 1 account on their name . What i meant by " Open PPF accounts on your name , your Spouse name , and your Children name at the interval of every 2-3 yrs" was that
If you are 4 people in family , open each account with the gap of 2-3 yrs , so that you have a stream of PPF maturing after 10-12 years .
@Anonymous 1 thanks
@Anonymous 2 NPS is totally different , Also its tax treatment at maturity is still not defined and it also has other issues .
@Anonymous 3 No rule like that , Each individual can have 1 ppf account .
@moh … think of it now .. forget past
@Vipin
PF is providend Fund , its a concept .
PPF and EPF are two products for Providend fund , EPF is better than PPF becuase you also get employer contribution and have 8.5% interest on it compared to 8% on PPF . but EPF is only availbale to people in companies and not every one .. how ever PPF can be opened by anyone in India
So you have to decide which one suites u .
manish
I think EPF contribution from employer is only 12% of your basic even if you try to contribute more than from your side employer contribution remains the same.
so contributing into EPF rather than PPF just gives you advantage of 0.5% extra interest !
Please let me know if I am wrong.
Yes Asif ..
You are correct .. But no matter what 8.5% is more than 8%
. And .5% can make a big difference .
manish
Hi Manish,
It was great insigth, I have PPF account for last five year but never imagine that PPF account can be use like this also,
Thanks
Hi Manish,
Very Nice Article….
can you Prepare One Excel Sheet about PPF Calculator – Monthly Or Annual Installment base…
My E-mail ID :
nikhil201053@rediffmail.com
@Neeraj
Many people do not realise that
, its ok 
@Nikhil
You can learn the generic formula for this and can use it for PPF , mutual funds etc .. look at : http://www.jagoinvestor.com/2009/05/video-post-on-basic-formula.html
Manish
Hi Manish,
very nice post and a good idea. But also thanks to mr. anonymous for pointing out that multiple accounts are not possible. After reading the post I thought that was the case.
I do try to follow your blog. Please, keep sending orkut updates. It helps.
Regards,
Angshuman
@Angshuman
Yes , One account per person is the rule
. Regarding updates , I would suggest you subsribe to multiple channels 
so that you get the updates and are not dependent on orkut , try email and mobile subscription .
Link : http://www.jagoinvestor.com/2009/06/subscribe.html
Today's Times of India shows that Govt is planning to tax the returns from PP at maturity i.e. it PPF will be treated as EET similar to NPS which is currently treated as EET.
This is still at discussion level, but can be implemented by Apr 2011.
@Sachin
That is true , It can happen and its proposed .. But it still is in discussion phase , lets not take a call on what can happen
. Read this : http://www.jagoinvestor.com/2009/08/what-is-direct-tax-code-and-how-does-it.html
Does this advice still hold after the new direct tax code? Or should we wait for more clarity on it?
I cannot lock-in money for 15 years at this stage of life. But if Rs 500 a year can decrease lock-in later, I am ready. After EET, is PPF still better than FD / debt mutual funds?
@Vishal
Dont judge the situation just now . Direct tax code is just a proposal and it will take too much time for it to come into effect . May be it does not happen at all .
Take the worst case scenario . Even if PPF becomes EET . It will be at par or better than FD or Debt mutual funds
Return – It will be same as others
Safety – Most Safe
Tax on Interest – Tax on interest is still exempt .
So whatever be the case , PPF wont be a bad choice .
Manish
YOU WANT TO BE A CRORE PATI – DONOT DREAM ~ YOU'RE ONE ~ DO IT NOW!
Here we go!!!
To unravel the hidden truth of COMPOUNDING (Discovered by Albert Einstein)
.Rs 70000/- per annum SAVINGS in PPF for 15 years a total of Rs 10.5 Lakhs would become Rs 22.5 Lakhs in 15 years.
…PPF a/c is extendable by 5 years after 15 years without any further investment
….Rs 10.5 Lakhs SAVINGS in PPF over a period of 15 years becomes Rs 33.06 Lakhs in 20 years.
Year BALANCE in PPF (Rs)
15 22.5 Lakhs
16 24.3
17 26.24
18 28.34
19 30.61
20 33.06
…..With 3 PPF A/C’s (in your name, wife’s name and your son/ daughters name) = 1 CRORE
@ Red Indian
Great presentation man… we actually donot think this much and keep on pondering from one investment instrument to other… we always ignore the magic of Compounding Returns….
Read this : http://www.equitipz.com/2009/05/how-rs-1-lakh-grows-to-rs-50-lakh-in-25.html
.-= Amandeep Singh´s last blog ..Comment on Mutual Funds :: Advantages of Investing by A guide to decide the best gift for your children on the New Year 2010 =-.
Hi Manish,
Very informative article on PPF, i have 2 queries as below.
First one is, whats EET or EEE and mutual funds come to which category,i.e ETT or EET?
Second one is about lockin period of PPF. suppose i invest 50K per year in a PPF account, so after 15 years lock will be freed for 50K only or full matured value(approx 14+ lakhs)?
@Anonymous
E means Exempt and T means taxable
If some thing is EEE , that means all the 3 things are tax exemption for each
1. Money you invest in the product.
2. Money you get as interest or return during the investment
3. Amount you receive at the end in maturity.
PPF is EEE , all the money is exempt .
Mutual funds are EEE if investment tenure is more than 1 yr .
Tax saving FD is ETT .
Lock in period of 15 yrs is for whole investment in PPF , you will get it all at maturity .
Manish
Manish
Another important point
PPF account can only be opened by a Resident Indian.. An NRI cannot open one.. However an NRI can continue an existing PPF account..
So people who work in software or other sectors where abroad posting is a strong possibility better have a PPF account ready
Manish
I also heard that returns from PPF may be taxed from now on accordng to the new Direct Tax Code to be introduced in 2011. Your view on this..
@Siraj
No Siraj , Your information is wrong , NRI can open the PPF account without any issues , just that they have to use money from there Indian Accounts : http://www.apnainvestment.com/ppf/Can-an-NRI-open-a-PPF-account.html
From New tax code , PPF's will become taxable , but then all the investments will become taxable and hence in comparision to others , still they will be a good investment option . Dont worry too much on tax at maturity , you will save a lot in the earning years so that you can invest more .
Manish
Please notify about PF details
Which PF details ? Please clarify ?
Manish,
I came to know that we can extend the PPF term by 5 more years even after the mandatory lock-in of 15 years is completed. if so, do you know whether we will be getting the same interest of 8% for those 5 years as well ?
Also, if we subscribe to monthly payment of around 5000/- , will each 5000/- be taken as a seperate investment and each has a lock-in of 15 years from that date OR will it be considered as a yearly payment of 60,000 and has a lockin from the last payment in that year ?
Your views…
Thanks,
Shantharam
Shantaran
You can extend your PPF to a period of 5 yrs after maturity , you can do this any number of times .. so you can extend it for 5 yrs , then once its over , you can again extend it to another 5 yrs and like this , as many number of times you want .
But your money will be locked for those 5 yrs , so it will behave like a FD of 5 yrs .. you can make payments in between , but your money will mature in 5 yr only
. you will get the same interst and also the TAX exemption 
Manish
Dear Manish,
I have PPF accounts for myself and my wife. I am thinking of opening one in the name of my child when I become a father. However there is one issue that is quite unclear because the rules dont seem to have anything explicit.
If I hold two accounts (mine and my child’s) is the limits of Rs. 70, 000 for each account or for both accounts?
I am trying to use PPF for my childs future along with MFs. However I am using PPF also for my retirement plan (again along with MFs) .
I am now investing Rs. 70, 000 in my PPF. If the combined limit for two accounts is Rs. 70,000 then I will have to reduce my PPF subscription when I open an account for my child.
Can you please clarify the limit on self+minor accounts. I searched a lot in the net.
My present understanding is based on three articles below.
Limit of Rs. 70,000 is combined limit of self acc and minor acc.
The language used is a bit difficult to follow but I think I am right. This is an important issue before opening a minor account.
So to be on the safe side I am going to open the account in the name of my mother with me as nominee.
Please take a look and clarify:
part 1
http://www.hinduonnet.com/thehindu/biz/2002/02/14/stories/2002021400390200.htm
Part 2 (most important)
http://www.hinduonnet.com/thehindu/biz/2002/02/21/stories/2002022100250200.htm
Part 3
http://www.hinduonnet.com/thehindu/biz/2002/02/28/stories/2002022800290200.htm
pattu
Pattu
The limit is only on the tax exemption you can get for , not amount for deposit . So you can deposit 70k in your account and you child account , but the tax exemption will be only upto 70k in total .
Manish
“but the tax exemption will be only up to 70k in total”
Can you provide a source of this statement?
I think you are wrong. The PPF rules only talks about ceiling on subscriptions.
and in the link that I sent you earlier the following declaration has to be signed:
“(iv) I also declare that I shall adhere to the ceiling on deposits as provided for by the Central Government from time to time, which is Rs. 60,000 in a financial year at present (NOW Rs. 70,000) )together in an individual self-account and account(s) on behalf of minor(s) of whom I am the guardian/ a HUF account/ an association account. In case, at any time the said declaration is found untrue/false, no interest shall be payable to me/ the subscriber on the amount of deposits found in excess of the prescribed limit”.
So its Rs. 70,000 for two accs. Also a few others seem to be of the same view:
I found this today:
http://qna.indiatimes.com/index.php?ref=permalinkquestion&question_id=185550
See the 5th point in this rediff article . http://ia.rediff.com/getahead/2006/sep/06ppf.htm
My views are also based on what i have read on internet. So I can definately be wrong . Why dont you try to find this from a Post office or SBI branch . Please share it with other users too
Manish
Manish,
Was just reading from some article today…that we need to invest in PPF each year in the 15 year duration. is it mandatory to invest atleast 500 each year?
One thing i wanted to share is that ICICI bank is offering online PPF accounts and Senior Citizen Savings Schemes. It is great to have …but still feel people will go for SBI and Post Offices.
Shantharam
Shantharam
People still try old options because they feel they are safe .. Indians still need to take more risk . Anyways .. this will happen in coming times
Thanks for info
Manish
Hi,
Can I withdraw any amount in the middle from my ppf account? If so after how many years and how much?
Murali
The amount of withdrawal is limited to 50% of the balance in your account at the end of the fourth year — immediately preceding the year in which the amount is to be withdrawn, or at the end of the preceding year. Whichever is lower.
So if you opened account in 2001 , then you want to withdraw on 2008 , then the amount you can withdraw will be 50% of
Minumum of
1. Current Balance
2. Balance just 4 yrs back .(year 2004) .
Manish
An interesting and a clever way of looking at it Manish…
I was looking forward to start a PPF but had been delaying it for the same reason that why to open one when i donot have money to justify my cause… but this has been an eye-opener for me…
One point that i want to add here is that when you open an account just start with even as low as 500 p.m. and then start spending… this way you will be able to accumulate higher amounts in 15 years and this small amount even won’t affect your pocket.
.-= Amandeep Singh´s last blog ..The best gift for your children on the New Year 2010!!! =-.
Yup . you got it ..
Manish
Is the interest rate fixed at the time of opening the account? Hypothetically if interest rates average higher in the next 15 years then one might lose out (although tax savings might help but then again tax code changes threaten that too).
In any case, wanted to know if the interest rate is tied to an index or fixed at the time of account opening? Thanks.
No . Interest rate can change .
Current rate is 8% , In future it can go up or down depending on the govt decision .
Manish
Hey Manish, Gr8 article on one of the smallest and most commonly ignored concept, this is just like ignoring insurance at the early stage of careers which most of the do and then go for paying higher premium at late 35’s and so. I felt quite happy to see an article which talked in short about the needs of having a PPF a/c.
Thanks again Manish, Kudo’s.
Thanks Bose
I am glad you liked the article . You are correct about ignoring Insurance in early stages of life .. Most of the people do that in india and even then they realise , they get into wrong products
which is worse . So what do you think about taking Term Insurance in early stage of Life ? Do you have one ?
Manish
Thanks for your prompt and quick reply Manish. I came to an understanding that age brings immaturity as it grows (specifically with our countrymen) and it disables them from taking wise decisions, Believe me I have a personal experience in that corner. Coming to your question for me on “taking Term Insurance in early stage of life”, Yes it’s a brilliant idea and relatively less costlier (After visiting your BLOG I don’t consider Term Insurance as an EXPENSE anymore, but rather as an Investment for future) than what it gets at later years. I was not earning a handsome income till October ‘09 (My expenses were much higher than my earnings) and believe me I never thought about insurance till I got into Deepak shenoy’s blog which later referred your blog for more details on few of the investment practises that needs to be followed. Though I believe that I’m late to start now(I’m being 28 already) , I feel it’s better late than never and I’m looking forward to take a term plan in a month’s time or so from LIC (Courtesy: discussions on your BLOG about the solvency ratio and that it’s the oldest Insurance company in the country) for a period of 10 years and Sum assured of 15 lac’s(I don’t remember the premium amount) along with ICICI Prulife’s(I thought it’s good to have a mix of Term Insurance and Critical
Insurance) Pure Protect Classic for a period of 10 years and Sum assured of 15 lac’s with Critical Insurance of 7.5 lac’s (This is as per the rough calculations on their site for my age and gives an annual premium of Rs 3531/annum). Please let me know your thoughts on this.
Great
I am glad that you have realised what you need to go . Thats the most important part
regarding your insurance , Why 10 yrs ? What after that ? wont you be earning and your family be dependent on you when you are age 38 ?
You should ideally take it till your retirement and Make sure you have calculated your insurance requirement correctly ? Why 15 lacs ?
Manish
Well, I couldn’t talk about all of my plans in the previous reply, I guess 30 lac’s for Sum Assured( I’m single having only 2 dependents as of now ) is a good amount for sum assured as I was planning to take 2 term plans( Breaking the risk 50-50 ) LIC would give pure term cover and ICICI Pru would give term cover as well as Critical Insurance cover. I have opted for a 10 year plan as I wanted to opt for a 30 year term plan at the age of 35 ( 35 age, 30 yrs term plan )which would cover me till my retirement age with a bigger amount set for Sum assured (Again assuming that I would be married, and with 3 kids ( I love kids ). Also, I’m making an assumption that companies like Aegon Religare would bring much more competitive TERM PLANS in the future with better and affordable Premiums ( Making competition tougher and better, Hope they would raise there standards to a similar extent ) and better I would know more about private players by then. Also I have already taken the Print outs for the SBI PPF account opening forms today so that I can start investing some money in there in the coming weeks. Hey, I thought you can throw up some light on the latest news on ONLINE PPF accounts, can I have some info on the same.
So, what do you thinks of my plans.
Your plans look good .
Regarding Insurance , Did you compare 10 yrs first and then 30 yrs term VS 30 yrs first and 10 yrs later . See how it compares in todays value . Take a Health insurance soon .
I have to find more about online PPF thing and then I can post something . Do you have idea about it ? Tell me some thing more ? Is it with ICICI only ?
Manish
Hi Manish,
I am currently working in Singapore and holding the NRI status for more than 2 years. Since long time, I am planning to open PPF a/c. But, I came to know from one of my friend saying that “NRIs can not open a new PPF a/c only they can continue the a/c which was opened during their Resident status”. I am totally confused, Please help in clarifying. I am having NRO a/c with Citibank, India and interested to open PPF a/c, Can I use the funds from my NRO a/c to open a new PPF a/c in India..
Looking forward for your comments on this. Thanks a lot in advance.
Mahesh
These is lot of confusion on this one . i will get back with more information on this one with some post . keep watching
manish
Hi, I have invested Rs 20000 into PPF a/c in Dec 2008.On March 31, 2009 the interest I got was 527.If I caluculate at 8 percent I am getting more.Can you please clarify.
interest at 8% on 20000 comes out to 1600 . But you invested sometime in Dec . So your money was roughly invested for 3-4 months . So you got interest only on that part . This is what i can figure out .
Manish
HI Manish,
I am truly surprised(shocked) by the fact that, PPF is in force for so many years(or shall i say decades),so many people know abt it,Still they are reluctant to go for it.When I spoke to relatives and friends, they just refuse to even consider it. Flatly refuse is the right word. and they dont mind regular PF. Even the fathers and uncles were of same opinion. the rates were so much higher in previous century(name 1999 and earlier).They could have made a lakpatis.Is it a matter of mass ignorance or sheer laziness?
.-= Mukul´s last blog ..Decade recap =-.
Amazing point you bring in here .. I am noting down the point to write a post sometime on this
So I would say that this is sheer lazyness . When govt says with a stick in hand that no matter what they have to invest in PF , they feel happy , But they wont invest in PPF because they have control over where they want to invest in . Other reasons why they dont want to invest in that is
1. Lack of Knowledge : they can obvisouly take their money out partially .
2. No proper planning .
What do you feel ? Do you agree ?
Manish
Yes, this is what I want to add.
Firstly it is the laziness that cuts down the profits one can earn from PPF.
Secondly since it is optional, people have to investigate it, and go the extra length of depositing the money. Unlike PF, it is not deducted at source (which actually allows investment at ones discretion), and no one wants to take that walk to post office or bank.
Also, no one sees it as an INVESTMENT. The locking period of 15 years is a deterrent for many.
It is like people refusing to see that it is actually half glass full and not empty. We need to provide a set of Manish glasses for one and many to make the obvious even more OBVIOUS.
.-= Mukul´s last blog ..Decade recap =-.
Mukul , Why dont you send them to my blog , If they dont want to come , feel free to paste my article as a mail and make them read .
Did you try this ?
Manish
Yes Manish, I have fowarded your blog as a recommended link to many in friends and family already.
.-= Mukul´s last blog ..Decade recap =-.
Thanks Mukul
One of the characteristics of the people you talked about is that they love LIC and FD’s and no matter what they consider that Stock market is a place for gamblers
. I am sure this will be the case with you also . no ?
Manish
Hi Manish,
I want to get more clarification about below point, please advise
*interest at 8% on 20000 comes out to 1600 . But you invested sometime in Dec . So your money was roughly invested for 3-4 months . So you got interest only on that part *
Is there any specific time period to invest in PPF so that i will get full 8% interest?
Thanks in advance,
Definately .. The financial year starts from Apr and the interest is also calulated for 1 full year . So if you invest in Apr 3 2009 . You will get full interest of 8% after 1 yr .
Manish
Hi,
Right now Interest rate is 8%, suppose after 1-2 years it changed to 7% or may be 10%, then which rate applicable for my investment done in this year?
Interest on PPF is calculated every year on a single day . So whatever rate of interest was applicable for a particular year ,. you will get interest for that year . So it can vary everyyear ,.
Manish
Hi all,
Good afternoon..
would like to know where should i open ppf account.. I dont understand the calculation funda etc.. not good as you ppl are.. but willing to just invest something for future..
PPF – opening in Post office
PPF – SBI > have gone through couple of site where they have given negative feedback about sbi service.
My challange i need online payment facility.. as i keep traveling.
regards,
Kunal
Kunal
Most of the people open PPF at SBI only . But i have heard that post office works out to be better. Incase you are looking at online PPF account . I would suggest look at ICICI . Govt has recently authorised ICICI bank to issue PPF account and you can do that online . Have a look .
Manish
Dear Kunal, Manish,
I manage three PPF accounts (mine, wifes and mothers) at SBI. I pay online from my SBI acc via “third party transfer”. Its quite convenient.
ICICI online PPF could be useful if one can look at the account statement etc.
Ohh great
Thats a nice news .. I never knew we can do that . Nice stuff ..
Manish
hi pattu,
do you hold PPF accs at SBI? Can i have PPF acc in one SBI branch and savings acc in other branch at other city and still pay via third party transfer?
.-= mukul´s last blog ..Decade recap =-.
Mukul,
Yes, me, my wife and mother all hold PPFs at SBI. When you register a PPF as a “third party acc” all you need is the acc no. The system will automatically recognize the branch at which you hold the PPF acc. So there is no problem.
In fact this is the beauty of computerized banking. You are a customer of the entire bank not just one branch
Thanks ” Pattu & Manish”..
My opinon people prefer & trust SBI / Post Office are most trusted DOMAIN…
Private Banking like HDFC , ICICI still need to proove and own ppl confidence .
Pattu has mentioned valid point about online statement.. I was aware about SBI about netbanking feature for payments.
PPF – My rating goes to POST OFFICe… after reading various blogs, but only draw back we need to go there physcially.. if any one doing online i would be glad. As its driven under govt hence its always safer and reliable, some one has mentioned taking risk about private banking..
I would welcome some more expert opinion about place to start with..PPF.
Thank once again…..
Kunal
Kunal
Yeah .. i guess Post office can be the first choice while buying PPF . even though there might be online accounts , considering that we have to invest just one time (atleast 1 time ) even a non-online account is fine .
What do you think ?
Manish
PPF is a govt account. Post offices, SBI and ICICI are authorized to hold the money on behalf of the govt. So its purely a matter of convenience where you open it.
Post offices are archaic institutions with zero service. Its good only for uneducated rural people (Sorry!). Post office does not give online account for savings account. It does not even have a printer for pass book updation. The point is post offices have several employees and its trying to find them work! If we make financial services online many of them will be jobless!
Pattu ..
But still some people complain of services from SBI and even Post offices , I dont understand what services are they talking about while opening the accounts ?
Manish
Post ofice service is lousy. I recently helped open a PPF acc for my friend if one has:
two photos,
pan card +photocopy
address proof + photocopy
filled ppf application form account can be opened as fast as SB acc.
First time one has to fill out challan to put money. After getting passbook if one has SBI acc one as to register as third party and start investing online.
If above documents are in order even an idiotic banker can open an acc fast enough!
I usually update my ppf pass book once a year to give for IT proof. Passbook updatation is similar to that as SB acc.
Hi,
If i open PPF A/c and after 2-3 years i stop depositing money due to unemployment or any other reason, in this case can i get back my deposited money after 15 year or it will be lapsed.
Secondly supose i died before compliting 15 years in that case my nominee will get back the money immeditely or they will get it only after complition of 15 years.
Pranjal
As per PPF rules , Minimum 500 has to be deposited every year , failing which the account will lapse . After your death , the nominee will get the money , not after 15 yrs .
Manish
Hi,
If i open PPF A/c and after 2-3 years i stop depositing money due to unemployment or any other reason, in this case can i get back my deposited money after 15 year or it will be lapsed.
Secondly supose i died before compliting 15 years in that case my nominee will get back the money immeditely or they will get it only after complition of 15 years.
Please guide me.
Finally, I opened a PPF account for me Manish
Hope that I build a corpus for me in the coming years
If not, still I am atleast curbing the long 15 years day-by-day 
.-= Amandeep Singh´s last blog ..What is a ‘Reverse Mortgage’ Scheme? =-.
Hi,
I Want to open new ppfaccount ,pl teel me it takes how many days
Shafiulla
It take around 1 hour
: http://www.jagoinvestor.com/2010/02/how-to-open-a-ppf-account-at-sbi-bank.html
Manish
Hello all /Manish,
Some one suggested me LIC Jeevan saral is better than PPF.
I am already having jeevan saral policy 15k/pa. wanted to invest 10k – 20k more yearly.
would appreciate your expert opinion.
regards,
Kunal