This means that the Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), National Savings Certificate (NSC), and all other small savings schemes now allow nomination changes free of charge. Earlier, financial institutions and post offices used to levy a fee when account holders wanted to update, modify, or add nominees to these accounts. However, with the recent amendment to the Government Savings Promotion General Rules, 2018, made via Gazette Notification 02/4/25, all nomination-related changes across these small savings schemes will now be processed at zero cost.

Whether you want to add a new nominee, change an existing one, or modify the percentage allocation among multiple nominees, you can now do so without paying any charges.

Finance Minister Nirmala Sitharaman posted on social media X, “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 the updation of nominees for PPF accounts.”

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Earlier, financial institutions charged a fee of Rs 50 for making changes to nomination details in PPF, NSC, SCSS accounts. However, with the latest amendment, account holders can now update, add, or modify nominees free of cost.

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