Public Provident Fund: Any Indian citizen can open PPF account but NRIs and HUFs are not allowed to open PPF account
Public Provident Fund or PPF is a retirement-oriented central government-backed small saving scheme, which is 100 per cent risk free. Currently, PPF interest rate offered is 7.1 per cent, which is one of the highest yielding risk-free investment instruments. An earning individual, looking for safe investment option that can save income tax and ensure guaranteed return, PPF is an answer to their query. Any Indian citizen can open PPF account but NRIs and HUFs are not allowed to open PPF account. So, what will happen to those PPF account holders whose citizenship changes from an Indian to NRI before the maturity of PPF account?
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