Thinking of safe Investment with good returns? PPF often tops the list with approx 8 to 9% Interest, but what about NRI’s?

On an average 6 out of 10 Resident Individual open a PPF account every year in India.

But what if an existing PPF account holder who is a Resident Individual moves abroad and becomes an NRI?

Ever came across a situation where you thought you knew the rules, but then… surprise!

Recently, a client (now a Non-Resident Indian) came to me with a question about their ongoing investments in India one of which was his PPF account.

They’d been diligently contributing for 10 years, but what happens now as their residential status has been changed?

While NRIs cannot invest in new Public Provident Fund and National Pension Scheme, existing PPF accounts can hold till maturity.

But the catch?

Extensions or further fresh contributions to PPF after maturity are a no-go. ✋

Always double-check financial regulations, especially when client situations change. It’s a great reminder to stay curious and keep learning!

——
NRI Help Desk

Our NRI Expert Desk is here to help to answer all your tax and FEMA queries – reach out to us – our experts are here to help!

Shared your queries with us – https://wa.link/c5o0z3