Hi,
I wanted to know if a PPF amount be withdrawn by the nominee after the demise of the PPF account holder?
My father has been maintaining the account for 12yrs now. After his demise my mother who is the nominee, should withdraw it immediately or can she retain the same if she wants to?
If she wants to retain it till maturity then is the amount in the PPF account still be eligible from now unto maturity, or will even if we decide to retain the account (with no deposits made in the account in future) we will not get any interest on the money in the account?
Please guide us what is the best solution; since there no immediate financial need, would it be wise to retain the PPF account (given that it has a good rate of interest and it is tax-free) or withdraw immediately, as that money will not attract any interest on it from here on?
Thanks & Rgds,
Rit1203
From India, Bangalore
I wanted to know if a PPF amount be withdrawn by the nominee after the demise of the PPF account holder?
My father has been maintaining the account for 12yrs now. After his demise my mother who is the nominee, should withdraw it immediately or can she retain the same if she wants to?
If she wants to retain it till maturity then is the amount in the PPF account still be eligible from now unto maturity, or will even if we decide to retain the account (with no deposits made in the account in future) we will not get any interest on the money in the account?
Please guide us what is the best solution; since there no immediate financial need, would it be wise to retain the PPF account (given that it has a good rate of interest and it is tax-free) or withdraw immediately, as that money will not attract any interest on it from here on?
Thanks & Rgds,
Rit1203
From India, Bangalore
Should PPF be withdrawn by the nominee after death of account holder or can it be retaind without making any further contributions?
Hi,
I wanted to know if a PPF amount should be withdrawn by the nominee after the demise of the PPF account holder?
My father has been maintaining the account for 12yrs now. After his demise, should my mother who is the nominee, withdraw it immediately or can she retain the same if she wants to, even without making any further contributions?
If she wants to retain it till maturity then is the amount in the PPF account still be eligible to earn interest on it, from now unto maturity, or if we decide to retain the account (with no deposits made in the account in future) we will not get any interest on the money in the account?
Please guide us what is the best solution; since there no immediate financial need, would it be wise to retain the PPF account, with making any contributions to it (given that it has a good rate of interest and it is tax-free) or withdraw immediately, as that money will not attract any interest on it from here on?
Thanks & Rgds,
Rit1203
From India, Bangalore
Hi,
I wanted to know if a PPF amount should be withdrawn by the nominee after the demise of the PPF account holder?
My father has been maintaining the account for 12yrs now. After his demise, should my mother who is the nominee, withdraw it immediately or can she retain the same if she wants to, even without making any further contributions?
If she wants to retain it till maturity then is the amount in the PPF account still be eligible to earn interest on it, from now unto maturity, or if we decide to retain the account (with no deposits made in the account in future) we will not get any interest on the money in the account?
Please guide us what is the best solution; since there no immediate financial need, would it be wise to retain the PPF account, with making any contributions to it (given that it has a good rate of interest and it is tax-free) or withdraw immediately, as that money will not attract any interest on it from here on?
Thanks & Rgds,
Rit1203
From India, Bangalore
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PPF Interest.pdf