Harish Ramakrishnan asked on 11/09/2020

Can nri open an ppf account on his child who is a minor

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SBNRI Team
answered on 11/09/2020

The answer is NO! To understand this, let’s consider these basic explanations:

 

1. Any NRI can’t open a PPF Account. NRIs aren’t eligible for opening one, even if they are doing it for a minor.

2. If the minor is also an NRI, he is too not eligible for a PPF account.

3. If the minor is a Resident Indian, he/she needs a Resident Indian Guardian to open his/her PPF Account.

 

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