What are the permissible credits in an NRE account?
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 such investments were made from this account or through inward remittance)
Transfer funds from NRO to NRE account
Transfer of funds between these accounts are subject to taxation. Only after you have paid all your taxes on the funds in NRO Account, you can transfer it to the NRE Account. To understand the taxation and limits on transfer of funds from NRO Accounts, click here.
Process of repatriation from NRE account
Along with the permissible credits in an 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 |
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