Chennai, February 20: The Public Provident Fund or PPF is one of India’s most trusted long term savings schemes. Backed by the Government of India, it is widely preferred for its safety, steady interest rate and triple tax benefits. However, many investors often ask: can you open more than one PPF account to increase your savings?

Why PPF Is So Popular

PPF comes with a 15 year lock in period and allows individuals to invest a minimum of INR 500 and up to INR 1.5 lakh in a financial year. The biggest advantage is its EEE status, meaning the investment, the interest earned and the maturity amount are all tax free. EPFO 3.0 Set for Rollout With UPI Withdrawals and User-Friendly PF Services.

After maturity, investors can either withdraw the entire amount or extend the account in blocks of five years and continue earning interest. These features make PPF a preferred option for long term wealth creation and retirement planning.

Can You Have 2 PPF Accounts?

As per the Public Provident Fund Act, 1968, an individual is allowed to open only one PPF account in their own name. This rule applies across all banks and post offices in India. EPFO Inoperative Account Rules: When Interest Stops and How to Reactivate Your EPF.

The National Savings Institute clearly states: “Only one account can be opened in one name. If two accounts are opened by the subscriber in his name by mistake, the second account will be treated as irregular account and will not carry any interest unless the two accounts are amalgamated with the approval of the Ministry of Finance (DEA).”

It further adds: “For this purpose the subscriber will have to write to the Under Secretary NS Branch MOF (DEA), New Delhi 1 through the Accounts Office giving detail of each account.”

What If You Open 2 Accounts?

If the accounts are not merged with approval, the second account will be closed. In such cases, only the principal amount deposited in the additional account will be returned, and no interest will be paid on it.

In simple terms, the rule is clear: one person can hold only one PPF account. If you wish to invest beyond the annual PPF limit, you will need to explore other investment options.

(The above story first appeared on LatestLY on Feb 20, 2026 07:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).