New PPF 2019 rules comes into effect: 5 major changes you should know about

With this new rule, now the PPF investors will be able to withdraw 50 percent of their fourth-year end balance. Earlier, a PPF account holder would able to withdraw 25 of the accumulated amount after seven years, Solanki said.

The amount in the PPF account will not be liable to attachment under any order or decree of any court in respect of any debt or liability incurred by the account holder.

There can be only one account in the name of a minor and joint account is now allowed.

An account can be opened by the guardian of an individual or children with unsound mind, special needs.

Earlier, there was provision for opening PPF account in the name of a minor, but there was no clarity in the rule on this. In the new rule, it is more clearly specified, Solanki added.

The maturity period for a PPF account is 15 years and accountholders may extend their account for a further period of five years or its multiple years. An individual can deposit minimum Rs 500 and maximum Rs 1.5 lakh in a financial year in PPF account.

The maximum deposit limit is inclusive of the deposits made in the subscriber's own account and in the account opened on behalf of the minor.