To enjoy low risk investments for long term, do check if you are eligible for Public Provident Fund as mentioned below:
- Any Resident individual on his own behalf and on behalf of a minor of whom he is the guardian
- No joint PPF accounts allowed
- Non- resident Indians (NRIs) are not eligible to open an account under the Public Provident Fund Scheme. However, a resident who becomes an NRI during the 15 years tenure prescribed under Public Provident Fund Scheme may continue to subscribe to the fund until its maturity on a non- repatriation basis or closed the account.
- An individual can open only one PPF account and declare the same at the time of account opening
Keep your documents ready:
Make sure you have all the necessary documentation for Public Provident Fund in place.
- 1 passport size photograph
- Address proof
- Identity proof
- Birth Certificate in the case of minor
- Initial contribution (of Rs 500 minimum)