PPF Accounts Nominee: If you invest in Public Provident Fund (PPF) then there is good news for you. Finance Minister Nirmala Sitharaman said on Thursday that no charge will be levied for making or changing a 'nominee' for PPF accounts as the government has made the necessary changes through notification.

The Finance Minister wrote on the social media platform 'X', recently information has been received about financial institutions charging for adding/changing the details of 'nominee' in PPF accounts. The 'nominee' has legal rights over the amount of the original account holder. He said that necessary changes have been made in the Government Saving Promotion General Rule 2018 through a notification dated April 2, 2025, to remove any charge on change in information related to 'nominee' for PPF accounts.

In the notification, the charge of Rs 50 for canceling or changing the nomination for the small savings scheme run by the government has been abolished. He said, "The recently passed Banking Amendment Bill 2025 allows a maximum of 4 people to be made 'nominees' for payment of depositors' money, goods kept in safe custody and safety lockers. "

How to update nominee details in the PPF account?

You can change the nominee details in your PPF account by filling out Form 10. It can be updated both online and offline. Some banks like SBI, HDFC, and ICICI provide the facility to update details through internet banking.

Online method:

1. Log in to your bank's internet banking portal.

2. Go to the PPF Account section.

3. Select Nominee Update or Modify Nomination.

4. Enter new nominee details.

5. Authenticate using OTP or Internet Banking credentials.

6. Submit the request and save the acknowledgment.

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