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NRI Banking

Submitted by केशर on 6 March, 2008 - 00:29

For the global Indian, a Non-Residential External (NRE) ...we can discuss all our Banking queries.

The types of accounts that an NRI can open in India are NRE (Rupee Repatriable) FCNR (Dollar, Pound, Euro, Yens, Can dollars & Aus Dollars) & NRO (Rupee Non Repatriable).

NRE account is a rupee account from which funds are freely repatriable.
FCNR accounts can be opened in five different currencies viz., US dollar, Pound Sterling, Euro, Jap Yen, Canadian Dollar & Australian Dollar. They are in the form of fixed deposits only and the minimum period of deposit is 12 months.

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