5 Differences Between NRI and NRE Account

Once your residential status changes to NRIs, you need to open an NRI account to meet your transactional requirements in India. There are two types of NRI savings accounts - NRE and NRO savings accounts - and three types of NRI fixed deposit accounts - NRE, NRO and FCNR FD accounts. Let’s understand the difference between NRI and NRE accounts.

Manoj Negi

May 3, 2023 · 23,601 views

Understanding TCS on Foreign Remittance

The Financial Act 2020 has added Sub-section (1G) in Section 260C of the Income Tax Act 1961. The provision to collect tax on remittance was introduced in the Finance Act 2020. Tax collected at source (TCS) at the rate of 5% shall be imposed on the money sent outside India under the Liberalised Remittance Scheme (LRS) of the RBI. The new income tax rule has been effective from 1 October 2020. Here’s all you need to know about the new tax rule and how NRIs can save TCS on foreign remittance.

Manoj Negi

May 3, 2023 · 188,516 views

NRO to NRE Fund Transfer: Ultimate Guide 2023

Too many questions surround the aspect of NRO to NRE Fund Transfer and make up the doubt pool of NRIs. The concept of NRO to NRE Money Transfer requires knowledge of both these NRI Banking Accounts in particular and understanding the underlying aspects associated with the fund management of these accounts. So, in this article we will guide you through the prospect of NRO to NRE Fund Transfer.

SBNRI Team

May 3, 2023 · 170,981 views

What is NRE Account: Benefits and account opening process

A large number of Indians move abroad for jobs and become NRI over a period of time. As per the Foreign Exchange Management Act (FEMA), an NRI can’t operate a regular bank account in India. They need to open an NRE account to transfer and maintain their foreign earnings in India. Let’s understand everything about NRE savings accounts, such as opening process, interest rates and rules.

Manoj Negi

May 2, 2023 · 17,684 views

Yes Bank NRO Savings Account: Features and Benefits

Yes Bank NRO Savings Account is a specially designed savings account for Non-Resident Indians (NRIs) to manage their deposits or income earned in India such as dividends, pension, rent, etc. In this blog, we will discuss the features and benefits of Yes Bank NRO Savings Account.

Charu Dhasmana

May 1, 2023 · 6,863 views

NRI Account for Indians in USA: Top Banks for NRI Account 2023

Both public sector and private sector Indian banks are present in the USA. In addition, Indian banks also have subsidiaries in the US to offer banking services to NRIs in the USA. Key banking and financial services offered to NRIs include various NRI accounts, investments, remittances, online account opening, etc. Some of the banks that provide an NRI account for Indians in the USA are SBI, HDFC Bank, ICICI Bank, Axis Bank and HSBC Bank.

Manoj Negi

May 1, 2023 · 69,886 views

RBL Bank NRE Savings Account: Online Application Process

RBL Bank, one of the fastest-growing private sector banks in India, offers a wide range of banking products and services for NRI customers. Among these offerings is the RBL Bank NRE (Non-Resident External) Savings Account, designed specifically for non-resident Indians (NRIs) who wish to maintain their foreign earnings in Indian Rupees while residing abroad. This article delves into the different aspects of the RBL Bank NRE Savings Account.

Manoj Negi

April 28, 2023 · 7,411 views

How can NRIs file TDS Returns on Sale of Property in India?

The process of selling a property in India can be complicated for Non-Resident Indians (NRIs), especially when it comes to complying with Indian income tax laws. NRIs selling property in India are required to file TDS returns, and failure to comply with these regulations can result in penalties. If you are an NRI looking to sell a property in India, it is essential to understand how NRIs can file TDS returns on sale of property in India. In this blog, we will outline the process of filing TDS returns for NRIs.

Charu Dhasmana

April 28, 2023 · 4,238 views

South Indian Bank NRE Savings Account: Online Application

South Indian Bank NRE Savings Account is exclusively designed to cater to the banking needs of Non-Resident Indians (NRIs) and Person of Indian Origin (PIOs) who wish to maintain their foreign currency savings in Indian Rupees. Interest earned on an NRE savings account is not taxable in India. In this article, we'll explore the features and benefits, account opening process, documents required, interest rates, and minimum balance requirements of the South Indian Bank NRE Account.

Manoj Negi

April 27, 2023 · 8,580 views

5 Investment Options for NRIs from Singapore

There are various investment options for NRIs based out of Singapore to invest in India. Whether it's managed farmlands, mutual funds, stocks, commercial real estate or government bonds, there are plenty of choices to suit different investment goals and risk appetites of investors. In this blog, we will take a closer look at the top 5 investment options for NRIs from Singapore and discuss in detail about them.

Charu Dhasmana

April 26, 2023 · 3,469 views

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