PPF Account

 

Can a PPF account be allowed to continue if the total deposit in a financial year falls short of the minimum of Rs.500 or should it be closed without interest?

If a subscriber does not subscribe Rs. 500 in the first year, subscriptions paid by him/her will be refunded to him without interest. 

 

If a subscriber does not subscribe Rs. 500 in the first year, subscriptions paid by him/her will be refunded to him without interest. The account will not be considered as validly open. But if the subscriber, after paying Rs. 500 in the first year, defaults on the minimum subscription in the following year, he/she can continue with the PPF account after paying the prescribed default fee along with the arrears in the subscription at the Accounts Office.

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