A PPF account has a lock-in of 15 years. Photo: iStockI have a Public Provident Fund (PPF) account with Punjab National Bank in Mumbai. I moved from Mumbai and wanted to transfer the account but I opened a PPF account with HDFC Bank with the intention of transferring it to the Union Bank account. After the PPF account with HDFC was opened, I was informed that an individual can hold only one PPF account. —AkhilaA PPF account has a lock-in of 15 years.

Source: Mint January 08, 2019 03:56 UTC