Will I be able to transfer INR held in my NRE account to a new RFC account upon returning back to India? Will I have to give any reasons for repatriation of funds held in FE in my RFC account?
SBNRI Team
answered on 05/03/2021
In your case, it would be preferable to convert your funds from NRE Account to an FCNR Account before you return to India. Doing that will give you the benefit of converting the FCNR into an RFC account post your return to India.
After the conversion of an FCNR Account to an RFC Account, there are no questions asked while repatriating the funds. Therefore, it will serve both your purposes.
If you need assistance with the conversion of accounts or opening new NRI Bank Account just click on the button below to connect with our expert on WhatsApp.
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