For any excess amount above Rs.70000 deposited in a PPF account you have advised that interest has to be paid by the bank. The onus of depositing an amount not exceeding 70000 lies equally on both the depositor and the banker. Even either of them falters and more amount is collected into the account then the bank is bound to return the amount to the depositor at Post Office Savings Account interest rates. Imaging otherwise, most of them would simply park their funds in the PPF account beyond 70000 - just for the sake of safety and attractive returns. As per the PPF rules any amount deposited (by mistake) beyond the upper limit of Rs.70000 attracts interest rates paid on Post Office Savings Account.
