Can I deposit cash in my NRE account?
SBNRI Team
answered on 23/03/2020
No, you cannot deposit INR cash in an NRE account because NRE accounts are used to maintain the income earned outside India.
Permissible Credits in the NRE Account
There are certain permissible credits in an NRE Account, which 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 such investments were made from this account or through inward remittance)
Can I transfer funds from NRO to NRE Account
Yes. You can transfer funds from NRO to NRE account after providing proper documentation stating that all the taxes are paid on the funds being transferred to the NRE Account because both the principal and interest earned on NRE Deposits are fully and freely repatriable.
Also Watch: Best NRI Bank Account to understand the benefits of every NRI Banking Account variant.
Process of repatriation from NRE account
Follow the table below to understand about the process of repatriation of funds from various NRI Accounts:
Accounts | Process | Limit |
NRE | 1. ONLINE:
2. OFFLINE: Fill these 2 forms. (You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.)
| No Limit |
NRO | All the following documents are needed to be submitted at the Bank Branch (in India). You can either submit it when you arrive here or download it online and send the signed copies to bank branch via courier:
| USD 1 million |
FCNR | 1. ONLINE:
2. OFFLINE: Fill these 2 forms. (You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.)
| No Limit |
More questions like “Can I deposit cash in NRE Account?” click here to know whether you can deposit rent in NRE Account?
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