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Indian government removes charges for updating nominee details in PPF accounts, making it free and easier. Learn how to update nominee details online and offline.
Govt scraps Rs 50 charge on updating nominee details in PPF account.
PPF Nominee Update Online: In a big relief to subscribers, the Indian government has eliminated charges for updating or modifying nominee details in Public Provident Fund (PPF) accounts. Finance Minister Nirmala Sitharaman said in the X post that it had come to notice that financial institutions imposing a fee of Rs 50 for such changes. It is now become free and easier to update details of nominee in PPF accounts.
A PPF is a government-backed savings scheme which allows investors to get tax-free and assured returns with long-term wealth creation benefits. The subscriber can enjoy tax benefits by investing in PPF under Section 80C of the Income Tax Act, 1961.
PPF is part of small savings scheme.
Nominate Up To 4 Individuals
Now depositors are allowed to nominate up to four nominees for the distribution of their funds, as well as articles stored in safe custody or safety lockers, as part of key reforms under recently passed Banking Amendment Bill 2025.
Recently was informed that a fee was being levied by financial institutions for updating/modifying nominee details in PPF accounts.Necessary changes are now made in the Government Savings Promotion General Rules 2018 via Gazette Notification 02/4/25 to remove any charges on… pic.twitter.com/Hi33SbLN4E
— Nirmala Sitharaman (@nsitharaman) April 3, 2025
How To Update Nominee Details In PPF Account?
You can change the nominee details in your PPF account by filing up the form-10 for nomination. It can be updated both online and offline.
Some banks like SBI, HDFC and ICICI allow subscribers to update details through internet banking.
Online Method:
- Log in to your bank’s internet banking portal.
- Go to the PPF account section.
- Select “Nominee Update” or “Modify Nomination”.
- Enter the new nominee details (name, relationship, percentage share, etc.).
- Authenticate using OTP or your internet banking credentials.
- Submit the request and save the acknowledgment.
Offline Method (For Post Office & Banks Without Online Update):
- If your bank or post office does not support online nominee changes, follow this offline process:
- Download or collect Form F (Nomination Form) from your bank/post office.
- Fill in the nominee details (name, address, relationship, and percentage share if multiple nominees).
- Attach a copy of your ID proof (Aadhaar, PAN, etc.).
- Submit the filled form at your bank branch or post office where your PPF account is held.
