PDA

View Full Version : How much amount, can I deposit in three PPF accounts 70,000/- or 1,00,000/-?



Mrinal
22-04-2011, 07:27 PM
I was reading on a website that maximum amount of Rs. 70000/- can be deposited in a PPF account combined together with accounts opened in the name of minors. Example - if I have opened two additional accounts for two minors (my son and daughter), so now I have three PPF accounts ( one in my name and two in the name of minors ). Can I deposit only Rs. 70000/- combined in above three accounts or deposit 70000/- individually in each account.

CopyCat
23-04-2011, 01:02 PM
You can deposit 70,000 per year in all the three accounts. But for tax rebate you can claim maximum 70,000 per year.

Rahul
25-04-2011, 01:09 PM
If you deposit more than 70000/- in any of the PPF account, you won't get any interest on that extra amount. E.g. you have deposited 80000/-
, then you will not any interest on extra 10000/-.