Clarification regarding PPF individual minor account

Actually the rulings of PPF account says that it can be opened in the name of minor only through Guardian but in many cases it has been opened directly by the minor (above 10 years age) without guardian.

These accounts are opened to save the tax by the guardian only as they can invest 1.5 lakhs separately in the minor account as well as their own (guardian) account.


But when the PPF account is opened through guardian the rules says that 1.5 lakh can be invested in PPF account including the account opened in the name of minor through the guardian.


So the minor PPF account opened directly by the minor is an account opened in deviation of rules which will earn interest at savings rate upto 18 years of the minor and thereafter this account will again be treated as PPF account.