Can an NRI open a PPF Account?

8 Jun, 2018, 08:12AM UTC by Jaydip Mehta

http://thisadultthing.com/50-things-to-do-before-11/ The answer to this question is ‘NO’.

If you have been a resident of India, and you have had opened a PPF account before turning an NRI, there are quite a few pointers to note, understand, and work upon.
1. If you have had opened an account before you took residency in another country, and remained an NRI during the period of maturity, your PPF account shall be deemed closed the date you turned NRI


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2. The interest rate, with effect from the date your turned NRI, shall be paid as per the Post Office savings account rate
3. This rate of interest shall be levied up to the last day of the month that precedes the month of your PPF account closure
4. Being an NRI, you may not be asked for an Aadhaar card, but submitting a copy of your PAN card and the PAN shall be mandatory to identify yourself and withdraw the amount
5. You have to transfer the PPF account to a Post Office in order to withdraw the money

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