Relief In Deposit Rules Of PPF And Sukanya Samriddhi Scheme: Explained In 10 Points

10 Points Explaining The Relief In PPF And Sukanya Samriddhi Scheme


  • Norms for Sukanya Samriddhi and PPF account holders eased
  • Extensive given for PPF Accounts which matured on 31st March 2020

As the whole nation is under a lockdown until 14th of April and with some states already have extended the lockdown until 30th April, the government has taken some steps to ease the deposit rules for small saving schemes which include both Public Provident Fund (PPF) and the Sukanya Samriddi Scheme.

This will be applicable for deposits which could not be made for Financial Year (FY) 2019-20 owing to the lockdown. The subscriber of both Sukanya Samriddhi and PPF accounts can also continue making deposits for FY 2020-21.

The government eased the account extension rules for PPF accounts which matured on the 31st March 2020, let us take a look at 10 things about the new Sukanya Samriddhi and PPF rules:

Top 10 Points Describing The Relief In PPF And Sukanya Samriddhi Scheme

1. If you (a subscriber) want to keep your account active, you will be required to make a specified deposit in a year or else a penalty will be charged. The new guidelines state that PPF, Sukanya Samriddhi, and Post Office Recurring Deposits accounts in which minimum deposit was mandatory but were not made until 31st March 2020, the user will not be charged any penalty or revival fee if the deposit is made until 30th June.

2. For this, you will have to give a written undertaking to the account officer that the maximum deposit cap applicable to your PPF and/ or Sukanya Samriddhi will not be breached. For example, a depositor can deposit a maximum of Rs. 1.5 lakhs in his/ her PPF account in an FY.

3. If the deposit limit is breached then the amount over the limit will be treated as irregular and will be returned without interest.

4. You will also have to deposit amount for both FY 2019-20 and FY 2020-21 separately in your account.

5. A Default fee may be charged for default pertaining of the FY other than FY 2019-20, however, if deposits for FY 2019-20 are made after 30th June, a default fee will be charged for it as well.

6. Also, the interest will only be applicable from the actual date of the deposits fro the Sukanya Samriddi and PPF accounts.

7. To decide the loan/ withdrawal from the PPF account, the outstanding balance as on 31st March will be considered.

8. All users of PPF whose accounts matured on the 31st March 2020 (including a 1-year window for extension) can now be further extended until the 30th of June.

9. To get the account extension, PPF account holders will be allowed to submit a duly filled and self-attested copy of the form of extension but only sent through the registered e-mail id.

10. However, once the lockdown is lifted, the original copy will have to be submitted.


Ajay Kumar

Ajay joined our team as a content writer after earning his master's degree. He has been writing for since his graduation as a freelancer and raises voice for the people in need with his work. He likes to work on data-driven news reports. When he is not writing, he spends his time with his family.

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