Can NRIs continue to operate their PPF accounts?
Public Provident Fund (PPF) accounts in India. However, there are provisions for those who initially open a PPF account as Indian citizens and later acquire NRI status.
The PPF scheme serves as a valuable tool for tax-saving and investment, boasting attractive interest rates and compounding benefits over its 15-year tenure.
Despite its popularity among Indian residents, there has been confusion regarding NRIs' eligibility to operate PPF accounts. NRIs are barred from initiating or overseeing PPF accounts.
(Join our ETNRI WhatsApp channel for all the latest updates)
Investment in Existing PPF Account After Becoming an NRI
The Public Provident Fund (PPF) is a favored long-term savings and investment vehicle offered by the Indian government, providing individuals with a means to build a substantial corpus while enjoying tax benefits.
Income tax made easy: NRIs' complete guide to income tax filing
However, specific rules govern NRIs' participation in the PPF scheme.
Investment till Maturity
Individuals who opened PPF accounts while residents of India and later became NRIs can continue investing in the same accounts until maturity. Thus, even after transitioning to NRI status, they can sustain contributions and accrue interest until the account reaches its maturity date.
No Fresh Contributions after Maturity
Once a PPF account matures, NRIs are barred from making further contributions, regardless of their residential status. This restriction applies after the 15-year maturity period, during
