PPF-Options on death of subscriber

POSTED BY Sundaram A ON June 26, 2013 3:46 pm COMMENTS (7)

My late wife’s PPF A/c had me as the nominee.I have now the options of a) either withdrawing the entire balance and closing the A/c or b) continue with the A/c without further contributions but earn tax-free PPF interest on the balance [Please correct me if my understanding is wrong here]. Suppose I choose option (b),the A/c would be in my single name without a nominee.Am I allowed to nominate my daughter in this scenario?If I cannot nominate,I would be exposing myself to a great risk since the A/c is in my single name.What do the PPF rules say?Thanks for your clarifications and help.

7 replies on this article “PPF-Options on death of subscriber”

  1. Sundaram A says:

    Thanks everyone for your guidance.

  2. Bunker Guide says:

    I don’t think one can continue the PPF account of subscriber’s funds (subscriber died) on to the nominee’s name. I had inquired this few months back in SBI and they said, “nominee(s) receives the PPF accumulated amount of the subscriber on death of subscriber”. If nominee(s) at that time does not have a PPF account, the same account cannot be continued in the name of nominee.

    I never heard of Joint PPF account. ICICI Bank allows PPF Account but the associated ICICI savings account should not be a joint account. It has to be a single account.

  3. bharat shah says:

    then one can not keep the account continued after the account holder’s death.,as i think.

  4. Anand says:

    There is no such thing as joint account holder in PPF.

  5. bharat shah says:

    i think , you can’t continue if you are not a joint account holder . nominee has to declare that the holder is no more by producing the death certificate copy., and simply apply to get the money accumulated back . just inquire where the account is held.

  6. Sundaram A says:


  7. jinesh shah says:

    theres nothing written of continuation of the account post death of A/c holder.

    * also u need to subscribe min Rs 500 p.a to continue the account. or u may be charged some charges.

    * its better to withdraw and if not required and need interest open account on your daughters name. But u have many other options to invest in your daughters name( as if your daughter is not tax paying)

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