PPF Account for Minors

PPF account for minors offers long-term savings. Parents or guardians can open it by submitting required documents and meeting eligibility
OPEN FD
PPF for minors
OPEN FD
4 mins
31-July-2025

PPF is a government-backed initiative. It provides a secure avenue for systematic savings among Indian residents. It also extends its reach to the younger generation, offering the option to open a PPF account for minors.

This article dives into the rules, eligibility, and practical aspects of opening and managing a PPF account for minors. It offers valuable insights to help parents in building a strong financial foundation for their children.

Fixed Deposit

  1. Trusted by over 5 lakh customers
  2. Fixed Deposits worth more than Rs. 50,000 crore booked
  3. Rated CRISIL AAA/STABLE and [ICRA]AAA(STABLE)
  4. Up to 0.35% p.a. extra interest offered for senior citizens
  5. Flexible interest payout options available - Monthly, Quarterly, Half-yearly, Annually or at Maturity

By proceeding, you agree to our Terms and Conditions

What is a PPF Account for Minors?

A PPF (Public Provident Fund) account for minors is a savings scheme in which parents or guardians can open and operate an account on behalf of a minor. It helps in building a long-term savings corpus for the minor's future needs.
A PPF account for a minor can only be opened by their natural or legal guardian, and the scheme is available only for Indian citizens.

Also read: Check EPFO Pension Status

Objective of PPF account for minors

The PPF scheme aims to encourage small savings by offering a secure investment option with reasonable returns and tax benefits. Since PPF accounts are backed by the central government, they are considered a safe investment. However, authorities do have the right to attach these accounts to recover outstanding tax dues, if necessary.

PPF age limit for minors

A PPF account can be opened in the name of any individual below 18 years of age, with a parent or guardian managing the account until the child turns 18. Therefore, there is no minimum age requirement to open a PPF account for a minor.

Pro tip

Bajaj Finance offers attractive Fixed Deposit interest rates of up to 6.95% p.a. for non-senior citizens, and up to 7.30% p.a. for senior citizens, inclusive of an additional rate benefit of up to 0.35% p.a.

systematic-deposit-plan-pro-tip-banner

Minor PPF account rules and eligibility

  • Only Indian residents can apply and open Public Provident Fund accounts.
  • The account can only be opened by one of the guardians.
  • The person managing the account on behalf of the minor must be a natural or legal guardian.

Fixed deposit variants

Highest Credit Ratings | Trusted with over 1.4 million Deposits | Assured Returns on FD
Recommended

Fixed Deposit - 60 Months

INTEREST RATES UP TO
7.30% p.a.
Invest Online

Fixed Deposit - Senior Citizen

INTEREST RATES UP TO
7.30% p.a.
Invest Online

Fixed Deposit - Age below 60

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - Minor

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - HUF

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - Sole Proprietor

INTEREST RATES UP TO
6.95% p.a.
Open FD

How to open an PPF account for minors?

  1. PPF account for minors can be opened at any designated banks or post offices.
  2. Fill out the PPF account opening form with details of the minor and the guardian.
  3. Submit necessarily Know Your Customer (KYC) documents of both the minor and the guardian.
  4. Deposit the initial amount. Minimum deposit starts from Rs. 500 in a financial year and maximum deposit is Rs. 1.5 lakh in a FY.

Also read: TDS Rate Chart for FY 2024-25

Documents required to open a minor’s PPF account

The parents/guardian of the minor child should provide the following documents:

  • Details of the guardian and minor in the account opening form
  • KYC documents (Passport, Voter ID, Aadhar card, Driving license) of the guardian for opening account.
  • Guardians photograph.
  • Age proof (Aadhaar Card or birth certificate) of the minor child.
  • A cheque for initial contribution of Rs. 500 or more in the PPF account.

Also read: NPS vs PPF

Things to be considered before opening the PPF account of a minor

  1. A PPF account for a minor can be opened with a minimum deposit of Rs. 100. The yearly contribution should not be less than Rs. 500, and the maximum permissible limit is ₹1.5 lakh.

  2. If the contributions to the minor’s PPF account are made from the parent’s or guardian’s income, they are eligible for tax benefits under Section 80C of the Income Tax Act.

  3. Once the minor turns 18, the account must be transferred to their name. This requires submitting an application along with the necessary documents and the signature of the now-adult account holder. The guardian who initially opened the account must also attest to the application.

  4. In specific cases, the PPF account of a minor may be closed after five years, but only if the funds are to be used for the account holder’s medical treatment. Premature closure is also allowed if the funds are required for the minor’s higher education.

  5. Additionally, a loan can be availed against the minor’s PPF account, provided the guardian clearly states that the funds will be used solely for the benefit of the minor

Conclusion

Opening a PPF account for minors presents a unique opportunity for parents to secure their children's future. Exploring the rules, eligibility, and key considerations outlined in this article helps parents to make sound financial decisions for their children's future.

Calculate your expected investment returns with the help of our investment calculators

Investment Calculator

FD Calculator

Sukanya Samriddhi Yojana Calculator

PPF Calculator

Recurring Deposit Calculator

Provident Fund Calculator

Gratuity Calculator

Frequently asked questions

What happens to the PPF account when a minor turns 18?

When a minor turns 18, the PPF account undergoes a change in status. The parent or guardian must file an application for this change, and thereafter, the account holder manages all subsequent activities.

What is the minimum age for opening a PPF account?

There is no minimum age for opening a PPF account; both adults & kids can open a PPF account. However, in the case of a child under the age of 18, accounts should be handled by his or her guardian until he/she turns 18.

What are the minimum and maximum amounts required to open a PPF account for a minor?

The minimum initial amount to open a PPF account for a minor is Rs. 500, and the maximum annual deposit allowed is Rs. 1.5 lakh per year.

Is there a particular age to start the PPF account?

There is no age limit even to open PF account. Even PPF can opened for minors which will be handled by his/her parents or legal guardian.

What is the minimum amount to open a PF account for a child?

The minimum amount to open a PF account for a child is Rs. 500.

What to do when the minor PF account holder turns 18?

When the minor account holder turns 18, parent or legal guardian need to submit the necessary documents with all the required signature and convert the PPF account into a regular one.

Can money be withdrawn from the PPF account for minors?

Withdrawals from a minor's PPF account are allowed after 7 years of account opening. The guardian must sign a declaration stating that the amount withdrawn is solely for the minors use.

What happens when more than Rs. 1.5 lakh are being deposited into a PF account?

If more than Rs. 1.5 lakh are deposited into a PF account, the excess amount won't earn any interest, and it doesn't contribute to tax benefits under Section 80C.

Is pan mandatory for minor PPF?

No, PAN is not mandatory for opening a Public Provident Fund (PPF) account for a minor. Instead, the guardian's PAN is required when completing the application process for the minor's PPF account.

What is the latest rule regarding PPF accounts for minors?

Minors under the age of 18 are eligible to have a PPF account in their name, with a parent or guardian managing the account until they turn 18. There is no lower age limit to open a PPF account for a minor.

What is the current interest rate on PPF accounts for minors?

As of 2025, PPF accounts for minors offer an attractive interest rate of 7.1% per annum. The interest is compounded annually, making it a secure option for building long-term savings for a child’s future.

Show More Show Less

Videos on Fixed Deposit

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.