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SBNRI Team
answered on 11/09/2020

1. Yes you can continue to invest in your PPF Account after becoming an NRI on a non-repatriation basis. But you can only do so till its maturity (15 years). You can not extend the PPF account once it’s matured.   2. No sir. You can’t have a savings account in India after becoming an […]

Mayank Khandelwal asked on 03/04/2020
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SBNRI Team
answered on 03/04/2020

  Account Opening Grid: Open an NRI Account Documentation Requirements NRE/NRO/FCNR Account opening process for each bank is different. The structure to open an NRI Account is –   1. Get the required documents ready, 2. Attestation and KYC 3. Bank gets the courier pick up done from NRI’s residence or NRI couriers it to […]

Arnav Singh asked on 31/03/2020
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SBNRI Team
answered on 31/03/2020

Demat Account is a part of the trading account which NRI opens to trade in the Indian stock market online. Demat Accounts are used to hold the shares in electronic form.     As of now no bank offers to open a demat account online. But you can access the bank websites and third party […]

Karan Chaudhary asked on 15/07/2021
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SBNRI Team
answered on 01/11/2021

Latest NRE FD and NRI Savings Account Interest Rates November 2021   Banks Savings Account Rates Tax-Free NRE FD Interest Rates Federal 2.50% 5.10% to 5.50% SBI 2.70% 5.00% to 5.40%* Citibank 2.50% 2.75% to 3.50% Bank of Baroda 2.75% 4.90% to 5.25% Canara Bank 2.90% 5.20% to 5.50% Indian Bank 2.90% 5.00% to 5.15% […]

Sanjay Rana asked on 24/11/2021
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Manoj Negi
Manoj Negi
answered on 26/11/2021

       NRIs send money to India from different parts of the world. Likewise, Indians living and working in Australia often have to send money from Australia to India to their loved ones back home. There are several options to transfer money to India from Australia. Money transfer companies facilitate offline as well as online money […]

Sneha Dixit asked on 23/03/2020
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SBNRI Team
answered on 23/03/2020

There are multiple options to send money from abroad to India. Refer the table below and choose the best suited medium for yourself.     *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of funds using either their internal system or using their collaborations […]

Deepika Kumari asked on 08/07/2021
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SBNRI Team
answered on 08/07/2021

Latest FCNR Deposit Interest Rates (USD) October 2021   What is an FCNR Account? A Foreign Currency Non-Resident (FCNR) Account is a term deposit account in India for an NRI. It can be maintained in foreign currencies such as USD, GBP, EUR, etc. for a fixed tenure ranging from 1 to 5 years. The interest […]

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SBNRI Team
answered on 09/02/2021

After returning to India, you will have the RNOR (Resident but not Ordinarily Resident) Status.   The NRE Deposits need not be converted to resident accounts after your return to India. They can remain as-is till maturity.   Consult NRI Taxation Expert   There are certain benefits of the RNOR status: They don’t have to […]

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SBNRI Team
answered on 30/03/2020

No. There are no taxes on money transferred from India to UK in India.   Avoid Double Taxes on money transferred from India to UK However, In order to avoid tax implications in the UK, you need to declare the source of income in the UK. NRIs in the UK must consult their CPA (Certified […]

Abhinav Aggarwal asked on 30/03/2020
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SBNRI Team
answered on 30/03/2020

No. There are no taxes on money transferred from India to the US in India.   Avoid Double Taxes on money transferred from India to the US However, In order to avoid tax implications in the USA, you need to declare the source of income in the US. NRIs in the USA must consult their […]

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SBNRI Team
answered on 10/09/2020

Investment in the unlisted private limited companies in India by an NRI comes under Foreign Direct Investment (FDI). Therefore, there’s no need for a PIS Account as it is required for investments in the secondary market. You can use your NRE or NRO Account for such investments.   NRIs can invest in unlisted companies either […]

Kritika Pandey asked on 31/03/2020
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SBNRI Team
answered on 31/03/2020

Yes. An NRI can have multiple demat accounts. The usage of these multiple demat accounts can be understood under the concepts of: Repatriation: NRIs must have separate demat accounts for repatriable (NRE) and non-repatriable (NRO) shares which means if you invest through your NRE account, the money you receive after selling the shares/stocks is completely […]

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