Why NRI'S cannot have PPF a/c

Discussion in 'Money Matters' started by gankita, Oct 29, 2015.

  1. gankita

    gankita Silver IL'ite

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    I wanted to have PPF a/c for my son. It says in one of the thread that NRI'S can't have PPF a/c. Why is it so?

    Also, which saving scheme is good for NRI'S who wants to have savings in India.
    Pls help
    Thanks
     
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  2. sonal1611

    sonal1611 Gold IL'ite

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  3. butterflyice

    butterflyice Local Champion Staff Member Platinum IL'ite

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    Only Indian citizens can open PPF account. You also have to be resident there in India. If your son is born in US, you cannot open in his name. If you have lived in US for pretty long, you still cannot one in your name although you are an Indian citizen.
     
  4. hino

    hino Silver IL'ite

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    PPF is only for Indian residents..It gives best guranteed returns over the period of time.
     

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