Can I transfer funds from NRO to NRE account?
SBNRI Team
answered on 23/03/2020
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 Read: NRO to NRE fund Transfer
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.
Also Watch: Best NRI Bank Account to understand the benefits of every NRI Banking Account variant.
Process of repatriation from NRO account
Along with the process of transfer of funds from NRO to 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 |
Related Questions
SBNRI Team
answered on 16/11/2020
You can send a maximum of USD 2,50,000 abroad per year. This is the maximum limit under the Liberalized Remittance Scheme (LRS). There are no additional charges. The money can be sent on the ongoing exchange rate. Find the best way to send money abroad. Click on the button below to connect with our […]
SBNRI Team
answered on 10/09/2020
Emirates India International Exchange has multiple mediums to transfer money. Therefore, with each medium and its respective transaction time, the charges would differ. Say, for instance you opt to transfer money through agents. Now, Emirates India International Exchange has partnered with MoneyGram and many other operators. If sent through Moneygram, the charges would be 22.34 […]
SBNRI Team
answered on 24/03/2020
There are multiple options to send money to India from abroad. Refer the table below to know the charges for sending money to India from abroad and choose the best suited medium for yourself. *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of […]
SBNRI Team
answered on 24/03/2020
There are multiple options to send money from USA to India. Refer the table below for the time taken to send money from USA to India and choose the best suited medium for yourself. *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of […]
