Hello everyone, so i am thinking of opening one more PPF account. Can I have more than one PPF account?
I also had the same question when I first opened my PPF account. The rule is very clear, so, one person can have only one PPF account in their own name. You cannot open two separate PPF accounts for yourself, even if it is in different banks or post offices.
Well, you can still open another PPF account as a guardian for your child but for your own, you can only have one account. For example, I have my own PPF account, and I also opened one for my kid. But the total money I can put in both (mine + my child’s) together is still limited to Rs. 1.5 lakh per year.
I already have a PPF account in my name, but I was wondering if it’s possible to open another one for myself to increase my savings. Can I hold more than one PPF account at the same time?
I completely understand why you’d want to open more than one PPF account it’s a trusted savings option with guaranteed returns and tax benefits. But according to the official rules under the Public Provident Fund (PPF) Scheme, 1968, an individual is allowed to open and maintain only one PPF account in their own name.
That said:
• You can, however, open another PPF account on behalf of a minor child (as a guardian). This means you can manage your own account plus a separate account for your child.
• If by mistake, someone ends up with two PPF accounts (say one at a post office and another at a bank), the second account must be closed, and only the first one will remain valid.
• The maximum deposit limit of ₹1.5 lakh per financial year applies across all accounts combined (your own + any minor’s account you hold).
So, while you can’t have two PPF accounts in your name, you can definitely extend the benefit to your child by opening one for them.
Official Reference:
For more details, you can refer to the official Government of India, National Savings Institute page on PPF here: