| Accounts |
NRE |
NRO |
FCNR |
| Purpose of account |
To park overseas savings remitted to India after converting to Rupees |
To park overseas savings remitted to India after converting to Rupees and Indian earnings |
To park overseas savings without converting into Rupees |
| Currency |
Rupees |
Rupees |
USD, EURO, GBP, CAD, JPY, AUD, CHF, DKK, NZD, SEK |
| Minimum Balance |
Rs. 1,000 |
Rs. 1,000 |
USD 1000 or equivalent |
| Type of account |
Savings, Current, TDR ,STDR |
Savings, Current, TDR, STDR |
TDR, STDR |
| Investment Term |
Min: 1 Year
Max: 10 Years |
Min: 7 Days
Max: 10 Years |
Min: 1 Year
Max: 5 Years |
| Joint Holding |
Only with NRIs |
Both with Resident and NRIs |
Only with NRIs |
| Repatriability of Principal |
Freely Repatriable |
Up to USD 1 million (Conditional) |
Freely Repatriable |
| Repatriability of Interest |
Freely Repatriable |
Freely Repatriable subject to deduction of tax |
Freely Repatriable |
| Taxability in India |
Interest income tax free in India |
Interest income is taxed as per India Income Tax Rules. Reduced tax under Double Tax Avoidance Agreement |
Interest income tax free in India |
|
Your earnings abroad can earn attractive returns back home. Open an NRI account with us. Select from a range of account / deposit types offering tax free interest earnings and flexibility to maintain savings in foreign currency. Also enjoy the benefits of repatriation after deduction of any applicable taxes.
