PPF – MINOR , urgent help required

POSTED BY kaka kaka ON March 27, 2012 5:24 pm COMMENTS (4)

I have a PPF account in my son’s name and another PPF Account in my name was closed 3 years ago . Although i have been getting interest in My son’s account at least that is being mentioned in the booklet .But recently i came to know that both accounts combined will get interest upto 70,000 (from this year 1,00,000 ) . Effectively since this is the only saving scheme i invested in , i made payments upto maximum amount that is 70,000 . Will my son get interest or that will be deducted when he withdraws the entire amount on maturity from ppf

4 replies on this article “PPF – MINOR , urgent help required”

  1. kaka kaka says:

    i mean my son’s account is not closed . My account is closed .

    1. Dear Kaka Kaka, as on date there is only one PPF account in operation which is your son’s account & you are merely a guardian for this account. Your own account is not in operation, then where is the problem? So no reason to worry, you can make full 1L Rs. investment in this PPF account of your son & after completion of initial 15 Y period, you (your Son) ‘ll have the option to either close it or renew it for another block of 5Y each time till You (he) feel the need to continue.

      Thanks

      Ashal

  2. kaka kaka says:

    my son’s account is closed . only my account is closed .

  3. Dear kaka kaka, if your account is already closed, where is the problem?

    Thanks

    Ashal

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