Remember, any person who is a non-resident Indian cannot open a PPF account. NRI status disqualifies an individual from opening, operating and managing such accounts.
If you are someone who recently moved out of India and had a PPF account as an Indian citizen, the account will remain active even after you’ve become an NRI. You can continue to invest up to Rs 1.5 lakh in the account every financial year and continue doing so until maturity.
Deduction under section 80C for PPF deposit can be claimed, in case you are filing I-T returns in India.
Remember, any person who is a non-resident Indian cannot open a PPF account. NRI status disqualifies an individual from opening, operating, and managing such accounts.
Earlier, NRIs who had a PPF account as a resident Indian could invest in the fund through an NRO account and also enjoyed the same rate of interest given to a resident Indian.
PPF is a debt-oriented asset class, i.e., one’s investment is not exposed to equities and hence returns are not linked to the stock market’s performance. The interest rate on PPF returns are set by the government every quarter based on the yield (return) of government securities.