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 30/03/2020
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 various wealth management companies or Portfolio Managers (people responsible for handling your account) who invest these funds into a varied range of stocks, […]
SBNRI Team
answered on 13/12/2022
NRI Investment in Indian IPOs: Bank Accounts you need Non-Resident Indians can invest in initial public offering (IPO) of equity shares, bonds and NCDs in India. NRI IPO investment in India can be done through Non-PIS account only (NRO or NRE savings account without PIS permission). However, Indian companies going public can decide whether […]
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 18/03/2020
Yes. You can invest foreign currency in India by opening an FCNR or Foreign Currency Non-Resident Deposit Account (NRI fixed deposit accounts for depositing money earned abroad in foreign currency for a fixed period ranging from 1 to 5 years with tax-free interest) with banks facilitating investments in all the freely tradable global currencies. […]
