PPF account as minor still active – can I open another one?

POSTED BY Shruti Gandhi ON January 10, 2013 10:47 am COMMENTS (2)

Hello,

My father opened a PPF account in my name when I was a minor which is still active. Now that I’m an adult and employed, can I open another PPF account under my name? I understand that there is a law that each person is entitled to only one PPF account.

Regards,

Shruti

2 replies on this article “PPF account as minor still active – can I open another one?”

  1. Shruti Gandhi says:
    January 10, 2013 at 11:40 am

    Thank you for your prompt reply.

    Regards,

    Shruti

    Reply
  2. Free Financial Calculators says:
    January 10, 2013 at 11:06 am

    You cannot open another account. Once a minor becomes a major the account becomes his.
    Inform the bank and convert the account into your name.

    Reply

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