No Fee for Updating PPF Nominees: Finance Minister

The government has removed charges for updating or adding nominees in Public Provident Fund (PPF) accounts, Finance Minister Nirmala Sitharaman announced on Thursday.

Taking to social media platform X, Sitharaman clarified that financial institutions had been levying a fee for modifying nominee details in PPF accounts. However, the government has now addressed the issue through a notification.

The necessary amendments have been made in the Government Savings Promotion General Rules, 2018, through a Gazette Notification dated April 2, 2025, ensuring that no charges will be imposed on PPF account holders for nominee-related updates.

This move aims to simplify and encourage hassle-free financial planning for PPF subscribers, providing them with relief from unnecessary fees.