Can I deposit cash in my NRO account?
SBNRI Team
answered on 20/02/2023
Can I deposit cash in my NRO account?
Yes, you can deposit cash in an NRO account after sharing the source of income of the money that you are depositing with the bank.
To open an NRO Bank Account or ask any questions related to NRO account, click the button below.
Can I deposit cash in my NRE Account?
No, you cannot deposit INR cash in an NRE account because NRE accounts are used to maintain the income earned outside India.
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 NRO 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 |
To open an NRO Bank Account, click the button below.
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