NRIs - Still Investing in PPF? Must Watch [2022]

PPF for NRI!! Can you really contribute? What happens to your PPF account once you become an NRI? How to withdrawal your PPF? All you need to know about NRI PPF is covered in this Video.
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[@steveperies8951]

Thank you for this Video. It has answered my queries. I want to good options to invest once I close ppf account basically max returns with medium risk. What would you suggest. Thanks

[@SBNRISimplifyingBankingforNRIs]

As an NRI you have multiple options to invest in India specially when your PPF funds have matured. There are a no. of Investment assets that has potential to generate returns starting with 12% to 300% depending of levels of risk. You can simply schedule a call with our Investment experts to know which Asset is suitable to you. Use the link to schedule your call: calendly.com/sbnri/sbnri-call-with-expert?month=2021-10

[@minaxikaushik2164]

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. This information received from Economic Times newspaper

[@abhinawvikash]

That’s absolutely correct. We not need to close our existing PPF account if our status changes to NRI. We can continue to contribute to the PPF account till the maturity but we are not allowed to extend after 15 years.

[@snehilsinha911]

Should you change that account to NRO ? like I have PPF via SBI can I send money unto 1.5 lac yearly . ??

[@viveksingh-nt3po]

Informative video. Thank you

[@tusharaggarwal5730]

Thanks a ton for this video. I really had many doubts on my PPF account. All cleared now.

[@SBNRISimplifyingBankingforNRIs]

Thank you for your valuable remarks. If you haven't subscribed the channel yet, please subscribe it for more informative videos.

[@sugandharaj6288]

I was looking over google for all these answers. Thank you for consolidating everything on ppf in one video

[@SBNRISimplifyingBankingforNRIs]

Thank you for your valuable remarks. If you haven't subscribed the channel yet, please subscribe it for more informative videos.

[@mdshajid-tm5bb]

@@SBNRISimplifyingBankingforNRIsmohamad shajid

[@anindyaghosh7907]

it is incorrect, you can continue investing in an existing PPF account until you change citizenship. Please remove this video.

[@SBNRISimplifyingBankingforNRIs]

Thank you, for writing back to us. Initially the PPF continuation for NRIs was restricted but now it is allowed.

[@desifunincanada]

Thanks

[@darkcarnageindian79]

Contradictory statements...In a reply to comment you said NRI can continue to invest till maturity but in video you told NRI have to stop investing.

[@SBNRISimplifyingBankingforNRIs]

Hi, Once your status changes to an NRI then you should not contribute to PPF because the banks have a track of your residential status and the moment they get to know that you are no more a resident Indian they will stop paying any interest on your account. For instant answers on all your NRI queries we recommend you to download our SBNRI application and get your doubts cleared by NRI specialised experts. sbnri.app.link/yQ67UbE44ob

[@Naren_oceanlove]

I have one question, I am contributing voluntary in nps from my resident account, but in future my status is going to change as NRI,if I convert resident account to nro account what will happen to my money in nps . can I then continue contributing to nps through nro account?

[@SBNRISimplifyingBankingforNRIs]

Yes, you can contribute in NPS even after becoming an NRI using either an NRE or NRO Account

[@samirrout7336]

It's been 3 month I came to uae I don't have nri accounts can I invest in ppf

[@SBNRISimplifyingBankingforNRIs]

You can keep on investing for the next 3-6 months

[@durgeshpatankar705]

I m with the same case started PPF as RI but now NRI. R U sure about the case ?? as far as I know till maturity I can contribute till maturity & can not extend after maturity. Because if I dont contribute my account will be dead/freeze or de-active after some years/period. Can you please clarify on above ????

[@abhinawvikash]

As far as I know, after 2018, We not need to close our existing PPF account if our status changes to NRI. We can continue to contribute to the PPF account till the maturity but we are not allowed to extend after 15 years.

[@TravelandStudywithDrRajesh]

You are right

[@shohanrodrigues4438]

so to clarify, an nri who previously owned a ppf can no longer contribute but can remain subscribed until maturity?

[@SBNRISimplifyingBankingforNRIs]

You can, but you need to inform that the bank that your residential status has changed to that of an NRI. Any investment that you make in the PPF account should not be claimed as a deduction under section 80c of the Income Tax Act. For more details, you can schedule a call with NRI Tax Experts by clicking this link bit.ly/3nCKJYl

[@12314mac]

People working in merchant navy can invest in ppf ?

[@SBNRISimplifyingBankingforNRIs]

If the account was opened before becoming a mariner then they can continue to contribute else, No

[@zubairalam1669]

Sr mujhe. Hom lon lena. Mere sabi me ac hai

[@ankitmittal5935]

What needs to be done for the EPF account ? Can we still keep it open or we need to close it ?

[@SBNRISimplifyingBankingforNRIs]

You can keep on continuing the same account until the age of 58 years.

[@tanweeralisyed51]

Thank you for the informative video . Please let us know what about the APY scheme. if we have started when we are Indian residents now we are NRI's.

[@SBNRISimplifyingBankingforNRIs]

Hi, NON Citizens- The scheme is open to the Indian citizens only. Hence, in that event the APY account will be closed and the net actual interest earned on his contributions (after deducting the account maintenance charges) will be refunded, whereas, the Government co-contribution, and the interest earned on the Government co-contribution, shall not be returned to such subscribers. NRI in the age group 18-40 years of age having a bank account is eligible to open and continue APY. For instant answers on all your NRI queries we recommend you to download our SBNRI application and get your doubts cleared by NRI specialised experts. sbnri.app.link/yQ67UbE44ob

[@innocentboy2217]

Agar 2 saal k liye b UK gaya tab b PPF me.kuch b daal nai sakta hu sir

[@SBNRISimplifyingBankingforNRIs]

If you have an existing PPF account then you can keep to contribute in PPF

[@sumitlehri5704]

5 yrs resident 5 years nr phir 5 yrs r ..iss case mei last 5 yrs mei contrbtn kr saktey hau?

[@SBNRISimplifyingBankingforNRIs]

Yes

[@randeepramachamveettil545]

I have opened PPF account after becoming a NRI and my annual deposit is 1.5lk ,when i gone to bank they say it won't trouble, can you please give suggestions and my account is still active

[@SBNRISimplifyingBankingforNRIs]

Keep monitoring - see whether you are getting the interest or not if not then immediately withdraw those funds and invest some where else.

[@sacheferr]

Did you get an interest once you changed your status to nri?

[@KnowledgePowerSuper]

Which bank? For me IOB allowed to extend my account for five years even I was NRI since 2010. Now I want to close my account and let’s see whether I will get my money back with interest?

[@randeepramachamveettil545]

​@@sacheferryes I'm getting intrest

[@vipangupta3038]

Thanks for the informative video. Pls advise, my son is NRI. His ppf Ac is maturing on 31st March 2023. Whether he can extend it without contribution or he can transfer the amount to country he lives in

[@SBNRISimplifyingBankingforNRIs]

As per the rules of the Public Provident Fund (PPF), a PPF account can be extended beyond the initial maturity period of 15 years for a block of 5 years at a time, without making any further contributions. This extension can be done indefinitely until the account holder decides to close the account. Therefore, your son can extend his PPF account for another 5-year block without making any further contributions after the maturity date of 31st March 2023. Regarding transferring the amount to the country where he lives, please note that NRIs are not allowed to continue investing in PPF accounts. However, they are allowed to hold and maintain an existing PPF account until maturity, as in the case of your son. The maturity proceeds can be repatriated to the NRI's foreign account or be credited to their NRO account in India, subject to the applicable regulations and taxes. Therefore, your son can choose to keep the maturity proceeds in his existing PPF account or transfer it to his NRO account in India. If he wants to repatriate the funds to his foreign account, he would need to follow the regulations for repatriation of funds from India, including submitting the required forms and documents to the bank. I would recommend that your son consults with SBNRI NRI tax expert to understand the specific rules and regulations related to his PPF account and repatriation of funds to his foreign account. Schedule call using this link: sbnri.dayschedule.com/taxationweb

[@AmanpreetSinghLamba]

All news articles I read says that NRIs can keep contributing to their PPF accounts which were opened when their status was resident. Your video mentions otherwise. Any reason? Thanks. Aman.

[@SBNRISimplifyingBankingforNRIs]

An NRI may continue investing till maturity (which is 15 years since the account was first opened). Once matured, the account can be closed, or further extended in blocks of 5 years. At the time of maturity, if your status is an NRI, then you may not extend the account further. However, for the first 15 years you may continue investing.

[@nidhisadana9171]

@@SBNRISimplifyingBankingforNRIs Then sir your video is confusing.. I would suggest make an amendment to this video because your video says NRI cant invest till first 15 years.. thats how the impression is coming. just notifying..

[@innocentboy2217]

@@nidhisadana9171 yes.,it's seems half Information by u sir.,..Not Correct

[@rubensontale]

Yes the video is misleading, requesting you to amend it

[@paneerselvam5144]

Excellent video and detailed information...well done 👌 thanks 😊

[@SBNRISimplifyingBankingforNRIs]

Thank you for your valuable remarks. If you haven't subscribed the channel yet, please subscribe it for more informative videos.

[@zubairalam1669]

Nice sr

[@lijo1810]

thank a million for this video.

[@SBNRISimplifyingBankingforNRIs]

Thank you for your valuable remarks. If you haven't subscribed the channel yet, please subscribe it for more informative videos.

[@GADGETSWORLD.]

No you are wrong , if the account is opened before coming to abroad then it is valid, you can still invest in it . i had confirmed it with bank (icici bank) , and i am also investing in ppf since 2 years , and it is been 1 year since i am in abroad , and my acount is still valid till 15 years along wiht fresh investement . please correct your video

[@SBNRISimplifyingBankingforNRIs]

Thank you, for writing back to us. Initially the PPF continuation for NRIs was restricted but now it is allowed.

[@AshwinNaik-j1w]

Does it matter Indian citizen vs non Indian citizen NRI

[@chetanthakur5516]

Hii sir nre can open ppf account for his wife ? And she holding dependent visa

[@SBNRISimplifyingBankingforNRIs]

PPF account can be opened for Indian Resident in order to claim deduction under Section 80C of the Income tax act.