Latest NRE Savings Account & FD Interest Rates June 2022           Fixed deposits are one of the most common NRI investment options in India as they offer assured and safe returns on investment. Non-Resident Indians (NRIs) open NRE (Non-Resident External) fixed deposits to save their foreign earnings and earn attractive returns […]

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 […]

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 […]

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 […]

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your Roth IRA for less than 5 years or you haven’t reached the retirement age of 59 and a half, the earnings can’t be withdrawn.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 […]

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 […]

       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 […]

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 […]

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 […]

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 […]