Results 1 to 2 of 2

Thread: What will happen when a PPF a/c holder becomes NRI?

Hybrid View

Previous Post Previous Post   Next Post Next Post
  1. #1
    NewBie
    Join Date
    Apr 2009
    Location
    UK
    Posts
    22

    Question What will happen when a PPF a/c holder becomes NRI?

    What will happen when a PPF a/c holder becomes NRI -
    1- Whether the PPF a/c can be closed before maturity as a special case?
    2- If not, then whether annual payments need to be continued till maturity of the account?

    3- How the maturity proceed will be paid to NRI?


  2. #2
    PW Stalwart v.r.s.nathan's Avatar
    Join Date
    Apr 2009
    Location
    Nagpur
    Posts
    250

    Default

    Quote Originally Posted by ABCD View Post
    What will happen when a PPF a/c holder becomes NRI -
    1- Whether the PPF a/c can be closed before maturity as a special case?
    You cannot close PPF account before 15 years.
    2- If not, then whether annual payments need to be continued till maturity of the account?
    Yes, You need to make min payment of Rs.500 per year to continue your PPF account.
    3- How the maturity proceed will be paid to NRI?
    Maturity ammount will be paid in Indian Rs to NRIs NRE or any other simmilar account. And tax rules of that time will be applicable.

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •