Hello, One of my friends moved abroad and he asked me a question. Can NRIs open a PPF account?
That’s a very important question as many people don’t know about it who are going or living in abroad.
Can NRIs Open or Maintain PPF Accounts?
No, NRIs (Non-Resident Indians) are not eligible to open a new PPF account. I got to know about this when I was checking for my relative who lives in abroad. Only Indian residents are eligible to open and invest in PPF.
But there is one thing that if someone becomes an NRI after already having a PPF account, they can continue the account until maturity but cannot make fresh deposits. Once the account matures, it has to be closed. So, NRIs can’t start a PPF, but existing accounts are allowed to run till the end.
PPF Eligibility – Resident vs NRI
| Category | Eligible to Open PPF? | Can Continue Existing PPF? | Can Extend After 15 Years? |
|---|---|---|---|
| Resident Indian | Yes | Yes | Yes (in 5-year blocks) |
| NRI (New PPF Account) | No | N/A | N/A |
| NRI (Existing Account) | N/A | Yes (till maturity) | No |