Esha Mathur asked on 23/03/2020
4256 views
SBNRI Team
answered on 23/03/2020

Minimum balance for FCNR Account: USD 1000     A Foreign Currency (Non-Resident) Account which is a term deposit account in USD, GBP, EUR, JPY, AUD, CAD, SGD, HKD, and others. The ‘term’ in a term deposit account is a fixed tenure of up to 12 months, 24 months, 36 months, 48 months or 60 […]

Arnav Singh asked on 24/03/2020
2683 views
SBNRI Team
answered on 24/03/2020

Yes. Funds in FCNR deposits (both principal amount and the interest earned on the deposit) are fully and freely repatriable outside India. The FCNR Deposit lets you earn tax-free interest on most of the major globally tradable foreign currencies such as USD, GBP, EUR, JPY, AUD, CAD, SGD, HKD, and others.   What is Repatriation? […]

Esha Mathur asked on 30/03/2020
6665 views
SBNRI Team
answered on 30/03/2020

The process of repatriation of funds from NRI Accounts including FCNR account: Accounts Process Limit NRE 1. ONLINE:  Internet banking for outward remittance (sending money to your overseas account from your NRE account) 2. OFFLINE: Fill these 2 forms.  (You can get them at the bank branch or download them online, sign them and send […]

SBNRI Team
answered on 16/11/2020

The same rules apply for seafarers that apply for other NRIs.   NRIs can’t open a PPF Account. However, if you had a PPF Account before becoming an NRI, then it can be continued till maturity (15 years) but can’t be extended further. Also, for NRIs, the gains from the PPF Account can only be […]

SBNRI Team
answered on 16/11/2020

A Roth IRA is funded by your post-tax income. Therefore, withdrawals are tax and penalty-free.   However, if you have had your Roth IRA for less than 5 years or you haven’t reached the retirement age of 59 and a half, the earnings can’t be withdrawn. If you withdrawal your earnings before maturity then tax […]

Aastha Yadav asked on 30/04/2022
4398 views
SBNRI Team
answered on 14/05/2022

PMS or Mutual Funds   We receive a lot of queries from many NRI investors who struggle between PMS and mutual funds. With so many investment options to choose from, it is very confusing to select the right investment option for most individual investors. For example, there are many ways to invest in equities – […]

Rohit Malhotra asked on 30/03/2020
6604 views
SBNRI Team
answered on 13/05/2022

Portfolio Management Services (PMS) can be understood as the management of funds of HNIs (High Net-Worth Individuals: A wealthy person, in particular one with investable assets in excess of $1 million) by various wealth management companies or Portfolio Managers (people responsible for handling your account) who invest these funds into a varied range of stocks, […]

Rini Goel asked on 31/03/2020
3590 views
SBNRI Team
answered on 12/05/2022

Portfolio Management Service (PMS) is a unique and customized portfolio in stocks, fixed income, debt, cash, structured products and many other individual securities. PMS are managed by a professional money manager and can be tailored to meet specific investment objectives. The cost involved in a PMS is higher than in mutual funds because of greater […]

Mukul Khare asked on 07/12/2021
23924 views
SBNRI Team
answered on 07/12/2021

Credits refer to the money that can be deposited in a bank account. The permissible credits in an NRE account are: Inward remittance from outside India  Interest earned on the money deposited in the NRE account Interest on investments made through the NRE Account Transfer from other NRE/ FCNR(B) accounts  Maturity gains from investments (if […]

Arnav Singh asked on 31/03/2020
10701 views
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 […]

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