Hello everyone, I have a question. Can a minor have a PPF account? Who manages it?
Well yes, a minor can have a PPF account but they cannot manage it themselves. I know someone who opened a PPF for their child and it works like this a parent or legal guardian opens the account on behalf of the child and manages it until the child turns 18.
The guardian can deposit money, take loans and make some withdrawals according to the PPF rules. Once the child turns 18, the account is given over to them and they can manage it themselves.
So, minors can benefit from PPF, but a responsible adult manages the account until they become an adult.