Hello, my sister asked me a question regarding ppf account. Can both parents open PPF accounts in the name of the same child?
No, only one PPF account can be opened for a child. It doesn’t matter if the mother or the father is the guardian and open the account, the thing is both cannot open separate PPF accounts for the same child.
I found this rule useful because it keeps things simple and ensures that the yearly deposit limit of Rs. 1.5 lakh for that child is not exceeded. The parent who opens the account can manage it until the child turns 18. So, choose one parent to be the guardian, and that account is enough for the child’s PPF savings.