PPF account of NRI
This query is : Resolved
13 March 2011
After a NRI PPF account matures, can the balance be left in it without further deposits till it is needed?
If so, will it continue to earn interest at the PPF rate till it is withdrawn.
Raj
If so, will it continue to earn interest at the PPF rate till it is withdrawn.
Raj
CA. Anuj Gupta
(Expert)
14 March 2011
I suppose the same should be withdrawn immediately as the same is not allowed to be extended .If the individual continues to be an NRI, the account has to be closed. The post-maturity extension facility is not available to such an account.
Anuj
9810106211
Anuj
9810106211
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