Quick Answer: What Happens To PPF Account After 15 Years?

Can NRI continue EPF account?

NRIs are not permitted to open a PPF account.

However, in case you do so while you still are a Resident Indian, you will not be permitted to make fresh contributions once your status changes.

The account, however, will remain in force until it matures.”.

When can PPF be withdrawn?

Lock-in period: The minimum lock-in period of a Public Provident Fund(PPF) investment is 15 years. You can withdraw your entire corpus at the end of the 15th year. But if you wish to stay invested for a longer period, you can continue to do so (with or without making additional contributions).

What is new PPF rules?

A PPF account can be opened by parents. In case of a specially-abled child/adult, the PPF minor account can be opened by a guardian too. 2) Investment: A minimum of Rs 500 to a maximum of Rs 1.5 lakh can be invested by a PPF account holder. For PPF Minor accounts, investment can’t go beyond Rs 1.5 lakh in a year.

Can I have 2 PPF accounts?

The PPF rules allow the same individual to open another account in the name of a minor but it does not allow to hold more than one PPF account in one’s own name. While only one PPF account is allowed to be opened in one’s name, there could be a possibility that one ends up holding multiple PPF accounts.

What is the age limit for PPF account?

18There is no restriction on the age limit to open a PPF account of a minor. However, a PPF account of a minor can only be handled by a parent/guardian on his/her behalf until the account holder turns 18.

Can NRI extend PPF account?

Under the PPF rules, you will be a non-resident since your stay in India is for less than 182 days. … You can keep your PPF account running until its maturity date. For FY 2019-20, your stay in India is 30 days for the month of April 2019. Your stay outside India is 336 days from 1 May 2019 to 31 March 2020.

Can we extend PPF after 15 years?

Although PPF has a lock-in period of 15 years you have the option to take a loan against it or make partial withdrawals during its tenure. … You have the option of extending your PPF account after it matures. You can extend it indefinitely in a block of five years.

How much amount can be withdrawn from PPF after 15 years?

PPF WithdrawalWithdrawalTimeAmountAfter the account maturesAfter 15 years from account openingEntire corpusPartial withdrawal of fundsAfter 5 years from account opening50% of the total available balancePremature closing of an accountAfter 5 years from account openingEntire amount

How many times PPF can be renewed?

You can extend your Public Provident Fund (PPF) account on maturity after 15 years by a block period of five years with or without making further contributions. You can extend it by a block of five years at a time as many times as you want as there is no limit on the number of times you can extend your PPF account.

Can NRI withdraw PPF?

Non-Resident Indian can’t keep on investing in PPF accounts after maturity. … Like an ordinary Indian Resident, an NRI can also withdraw a partial amount from the PPF account. But the amount can’t be repatriated abroad. The NRI has to spend this amount only in India.

What is the best investment for NRI in India?

Best Investment Options for NRIs in India 2020Fixed Deposit.Public Provident Fund.National Pension Scheme.Equity.Mutual Funds.Real Estate.

Is PPF better than LIC?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.