Ppf account in sbi

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2011 Dear Sir / Madam
Please advice if any body PPF account open after NRI Status (Child by Birth ). How can operate PPF Account .
Please advice if already invested in LIC policy in the time of NRI Status.
Please advice saving account open before became NRI Status , How can operate saving account
Requirement in the time of Maturity.
Please advice if the time of KYC updation in Bank which type of status show in Form if PPF account open before bacame in NRI Status.
Thanks / Sanjay

ALOK GOEL

ALOK GOEL (Expert)
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01 February 2014 1. NRI cannot open any PPF account.
2. Any old PPF account should be closed within same financial year of your going to abroad and having nNRI status.
3.LIC policy can be continued with Indian earning for a NRI .
4.All existing S/B account need to be converted to NRE or NRO account after becoming NRI.
5.Same tax implications as for indian in case of maturity
6. NRI status can not be shown for PPF account rather u need to close the account in same Finacial year of becoming NRI.