PPF ACCOUNT AGE LIMIT – PPF Account has been one of the most trusted and most reliable Small Savings Account for Indian Citizens for ages or may be since 1968. This has been the default savings account for every family or even HUF ( Hindu Undivided Family ) but not much has been known about PPF Account Age Limit.
Although there are several articles on PPF Account in this blog – there are very little information which clearly explains all about PPF Account Age Limit. So this article is all about knowing more details related to PPF Account Age Limit.
PPF Account Age Limit:
- Firstly there is no such rule for opening a PPF Account i.e, There is no restriction related to PPF Account Age Limit
- The minimum age limit for opening a PPF Account is possible for even a new born baby, since you might have read in the news that Aadhaar accounts were opened for a new born baby which was just 2 hours old. So no such rule on having minimum age limit for opening a PPF Account.
- Maximum Age limit for opening a PPF Account also has no such rule even a person retires from job he is entitled to open a PPF Account, although it makes no sense to open a PPF Account during or after retirement since the minimum duration to withdraw the money is 5 years as per the new rules of PPF Account.
- Boy or Girl can operate the PPF Account after he or she attains 18 years of age. However PPF Account Age Limit is not set by the Govt. of India.
- If incase the parents of the child have passed away, still grandparents can open the PPF Account and there is no age limit.
So ideally – PPF Account Age Limit is not defined by the Govt. of India, but still based on the rules book, a new born baby can have a PPF Account based on guardian being father or mother / grandparents. Also a retired man or women can still open a PPF Account.
Conclusion: There is no PPF Account Age Limit for opening. However, for a individual to operate a PPF Account the minimum age should be 18 Years.