I previously opened PPF account in India now I am an NRI , now can I sent money to my PPF account ? Can I maintain any Saving account in India after became NRI? Can I Send money from NRE to saving account ?
SBNRI Team
answered on 11/09/2020
1. Yes you can continue to invest in your PPF Account after becoming an NRI on a non-repatriation basis. But you can only do so till its maturity (15 years). You can not extend the PPF account once it’s matured.
2. No sir. You can’t have a savings account in India after becoming an NRI. You need to convert your Resident Saving Accounts into NRO Bank Accounts or opt for a new NRI Bank Account (NRE, NRO or FCNR)
3. Yes you can send money from your NRE Account to other Resident Saving Accounts (of your Family, Friends etc.)
SBNRI is your one stop solution for all queries around NRI Banking, Investment, Remittances and much more. Contact us using the button below to get in touch with our experts who will resolve all your doubts and queries.
To get expert advisory at SBNRI, contact us using the button below.
Ask SBNRI Investment Expert Now
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 30/03/2020
Every Portfolio Management Service Scheme has certain Fund Management charges that may vary up to 2.50%* of the investment amount depending upon the PMS provider chosen for investments. What is PMS Service? Portfolio Management Services (PMS) can be understood as the management of funds of HNIs (High Net-Worth Individuals: A wealthy person, in […]
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 14/05/2022
PMS or Mutual Funds We receive a lot of queries from many NRI investors who struggle between PMS and mutual funds. With so many investment options to choose from, it is very confusing to select the right investment option for most individual investors. For example, there are many ways to invest in equities – […]
