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[Resolved]  State Bank of India — Refusal to open Minor PPF account

Address:Mumbai Suburban, Maharashtra

Sir

I have approached SBI- Caves Road , Jogeshwari - East Branch for opening Minor PPF Account ,however it was promptly refused by Cleark on the desk as well as Branch Manager stating that Guardian +Minor exceeding 1 lakh contribution could not open PPF account in name of minor. Appreciate if you could review and advise.
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Aug 13, 2020
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Comments

Yes, combined 1.5 lakh is only possible after the budget... You cannot open individual for 1.5 lakh each

visit - www.pp[censored]ount.in for more information
Reply
For your question, combined 1.5 lakh is possible and not individual. Make sure you open the Minor PPF Account in your name or your wife name. Also individual 1.5 lakh is not possible.
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