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NRE accounts should be On change in residential designated as resident status, FCNR (B) deposits accounts or the funds held in may be allowed to continue these accounts may be till maturity at the transferred to the RFC contracted rate of interest, if accounts , at the option of the so desired by the account account holder, immediately holder. An NRE account can be a savings account, a fixed deposit account, a recurring deposit account, or a current account. Using this account, as an NRI, you can make transactions in India and repatriate these funds easily to your country of residence. The two types of bank accounts designed to ease NRIs’ financial transactions are the non-resident external ( NRE ) and nonresident ordinary (NRO). Both these accounts can be maintained simultaneously by NRIs and come with a minimum balance requirement. Find out how the two differ so that you can pick the one more suited to your needs. NRE & NRO accounts are the 2 ways NRIs can operate their finances in India. Learn the difference between NRE and NRO accounts , and check which suits you best.
