New Delhi: The government has made a big announcement on Thursday and has given a big relief to PPF account holders. In fact, Finance Minister Nirmala Sitharaman shared a post on the social media platform X and said that now there will be no charge for nominee updation in PPF accounts, that is, this work will now be absolutely free. More than 6 crore people of the country will benefit from this.
Finance Minister shared the information
According to media, the government has changed the rules for adding nominees in PPF accounts through a notification (PPF Account Rule Change). Finance Minister Nirmala Sitharaman has said in a post on social media platform Twitter (now Twitter) that some financial institutions were charging for updating nominee details in PPF accounts, but now this work will be done absolutely free.
A charge of Rs 50 was levied
A notification has also been issued by the government regarding this change made by the government for PPF account holders. In this notification issued on April 2, 2025, it is clearly written that any fee on nominee update in PPF Account has been abolished. This important change has been made in the Government Savings Promotion General Rules 2018. According to this, till now a fee of Rs 50 was being charged for cancelling or changing the nominee for the Small Saving Schemes run by the government.
Facility given to add up to 4 nominees
In his social media post, the Finance Minister has also shared the notification issued by the government regarding changes in the rules. Nirmala Sitharaman has said that apart from making nominee updation free, under the recently passed Banking Amendment Bill 2025, PPF account holders have also been given the facility to add up to 4 nominees for payment of their deposits, safe deposit items and lockers.
Most professionals invest in PPF for tax saving. Along with the investment, the maturity amount and interest are also tax free.
This is a good way to make a safe investment in the long term and to build a large fund. Investing in a PPF account is eligible for a tax deduction of Rs 1.50 lakh under Section 80C. Let us tell you that the government gives 7.1 percent interest on investment in PPF.