Can PPF a/c of Resident Indian who before maturity became an NRI be extended beyond 15 years with contributions as usual?
SBNRI Team
answered on 16/11/2020
You can’t extend your PPF Account post maturity (15 years) if you become an NRI before your account matures.
As per the PPF guidelines, NRIs aren’t eligible to open a PPF Account. However, if a Resident Indian becomes an NRI after opening the PPF Account, he/she can continue to subscribe to his/her account on a Non-Repatriable Basis. But, the account can’t be extended post maturity.
For other queries regarding PPF for NRI, click on the button below to get in touch with an expert.
Related Questions
SBNRI Team
answered on 10/01/2023
Investment in the unlisted private limited companies in India by an NRI comes under Foreign Direct Investment (FDI). Therefore, there’s no need for a PIS Account as it is required for investments in the secondary market. You can use your NRE or NRO Account for such investments. NRIs can invest in unlisted companies either […]
SBNRI Team
answered on 30/03/2020
Can NRI invest in PMS? Before understanding that, let us first learn about what is PMS or Portfolio Management Services (PMS) Portfolio Management Services (PMS) can be understood as the management of funds of HNIs (High Net-Worth Individuals: A wealthy person, in particular one with investable assets in excess of $1 million) by […]
SBNRI Team
answered on 11/09/2020
Yes, it is mandatory to declare your NRI Status to the bank so that they can do the needful from their end. (Eg. Convert your Resident Savings Account to NRO Account etc.) As of now, you can still continue to subscribe to your PPF Account till its maturity (2023). But you won’t be able to extend […]
SBNRI Team
answered on 28/02/2023
NRIs can invest in Indian Stock Market by buying stocks listed on the National Stock Exchange of India Ltd. (NSE). To be eligible to invest into stocks, NRIs need to have a PIS Account under the Portfolio Investment Scheme* (PIS) that will allow them to trade stocks. *(Portfolio Investment Scheme (PIS): Through this scheme of […]
