Can NRIs invest in Public Provident Fund (PPF) in India?
Public Provident Fund (PPF) is one the best investment options in India which provides risk free & tax free returns (8-10%).
But, Can NRIs take benefit of this investment option? Let’s discuss in detail.
1. I am an NRI. Can I open NEW PPF Account?
No, an NRI can’t open a new PPF Account in India. However, he can maintain the existing PPF Account opened when he/she was resident.
2. I opened PPF account when I was in India but now I am working outside India. Can I continue with this PPF account?
Yes. If the PPF account was opened when you were resident, then you can continue with this PPF account even after you become an NRI.
Till 2003, NRIs were not allowed to contribute amount into existing PPF accounts opened when they were resident. However, in 2003, government allowed NRIs to con...