Public Provident Fund (PPF) account holders have reason to cheer as the government has introduced key reforms aimed at simplifying and securing your investments. Finance Minister Nirmala Sitharaman recently announced a rule change that eliminates the fee for updating nominee details in PPF accounts. The move is part of the broader Banking Amendment Bill 2025.
Previously, financial institutions used to charge a Rs 50 fee for updating a nominee in PPF accounts. This often discouraged account holders from keeping their nominee information up-to-date. However, with the recent amendment to the Government Savings Promotion General Rules (2018), this fee has been completely scrapped, effective April 2, 2025.
Taking to social media platform X (formerly Twitter), the Finance Minister stated that this step aims to make nominee management more user-friendly and financially accessible for all savers.
In a major update under the Banking Amendment Bill 2025, PPF account holders and bank customers can now nominate up to 4 individuals for their PPF deposits, locker contents, and safe custody items. This gives more flexibility and security to investors and their families.
The provision is expected to significantly reduce disputes and complications related to inheritance or fund claims.
Keeping your nominee details current is not just a formality — it ensures a smooth transfer of funds in the event of the account holder’s demise. Without a nominee, family members may face legal hurdles and delays in accessing the funds.
Any Indian citizen can open a PPF account through banks or post offices.
You can also open an account for a minor child.
The investment tenure is 15 years, with an option to extend in 5-year blocks post maturity.
Early extension planning is recommended — make the decision one year before maturity.
PPF remains one of the most secure, tax-efficient investment options for Indian households. With these new rules, the scheme becomes even more investor-friendly, removing unnecessary costs and adding more control for account holders.
