Can NRI open PPF Account in name of Minor Son?

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  1. kanishkmariner

    kanishkmariner New Member

    Hi yours is a very informative site. I enjoy NRE status by living 184 days out of India, my query is whether can I open PPF account in the name of my minor son.
    Thnx & regards
     
  2. kanishkmariner

    kanishkmariner New Member

    Are u sure as I have already opened and the bank didn't object
     
  3. V K Khanna

    V K Khanna Active Member

    Dear Sir,

    What Shilpa has stated is correct. The PPF account can be opened by resident Indians only.
     
    Shilpa. likes this.
  4. kanishkmariner

    kanishkmariner New Member

    Dear Ms Shilpa
    Thanks for the info. I wonder why the bank opened it inspite of the existing laws and knowing my status. I guess now I have to surrender it and will loose interest also. One more query can it be transferred to my wife's name as she is resident.
     
  5. Pavan Agrawal

    Pavan Agrawal New Member

    I had the same issue, I am an NRI came back in holiday and opened PPF account for my Son. (I was unaware of the law). I have been depositing money in this account for past 5 years. I am now not sure what should I do . I have searched a lot about it and almost nobody have the answer for this. This PPF Article has almost 95% information but the answer to this is missing.
     
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