Opened PPF a/c with SBI on my son's name when he was minor(About 20 yrs back).I am guardian of that a/c.
Now he turned major and do not have any a/c or PAN card in India. He was born in India and now NRI.
We want to close this a/c.What's the procedure to close?
What are my options ?Will check will be issued on my name after closure ?
Do we need to open NRO a/c on his name in case check will be issued on his name?
Thanks a lot,
SV
3 Answers
Dear SV ji,
I believe that the Cheque will be issued in the name of your Son.
NRIs can withdraw PPF funds through authorized representative. He should have an NRE/NRO account.
Your son has to consider below points ;
- Need to complete PPF withdrawal form (Form C) and arrange for your KYC Documents(like copy of ID & address proof, cancelled cheque etc.,).
- Along with the above documents, you need to enclose an authorization letter stating that you are allowing your person (relative/friend/parent) to submit the withdrawal forms on your behalf. Post all these documents to your representative.
- Your person has to visit the bank where you have NRE/NRO account. They have to get all the documents attested by the bank official (especially the authority letter). He/she can also get these documents attested by a gazette officer.
- After attestation is done, then your representative can visit the PSU bank for PPF withdrawal.
Thanks Sreekanthji ,
Much appreciated your detail and helpful response.
Sorry I should have mentioned earlier that my son and me will be visiting India so I guess we don't have to attestation.
So just filling C-Form and identity/Address proof with NRO a/c details will be sufficient?
Thanks Again,
SV
Hi,
Should be fine..
Do note that Aadhaar is not required for NRIs..(in case, your banker insists for it..)
You may kindly visit the below link, can be useful;
PAN/Form 60 Rules for NRI/PIO/OCI -
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