Anyone showing or showed PPF as POF???

[KP786]

Hello All,

Anyone previously or currently showing PPF account as POF??

Wanted to know few things

1.) I have PPF account in India and I work in USA. Do I have to transfer the PPF amount to my savings amount and show bank transactions /letters etc OR showing a letter from bank for readily withdraw-able balance with transaction history will suffice

2.) My PPF would cover the entire funds required. Does my US account need to have the sufficient amount (14000CAD)?

Thank you in anticipation.

Kaustubh

 

[SeniorStakes]

PPF won't work because it can't be liquidated immediately. It certainly takes more than a month.

The basic criteria is thst:
1. Money should be yours
2. Money should be easy to liquidate at will

PPF is as bad as Gold.

 

[mr.preetsingh]

Hello All,

Anyone previously or currently showing PPF account as POF??

Wanted to know few things

1.) I have PPF account in India and I work in USA. Do I have to transfer the PPF amount to my savings amount and show bank transactions /letters etc OR showing a letter from bank for readily withdraw-able balance with transaction history will suffice

2.) My PPF would cover the entire funds required. Does my US account need to have the sufficient amount (14000CAD)?

Thank you in anticipation.

Kaustubh

PPF can only cover some of POF. You should liquidize PPF and move it your savings account. Since you work in USA, you will have to provide your balance certificate from US as well.