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| Accounts at a Glance |
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|
Accounts and Features |
NRE |
NRO |
FCNR |
|
Purpose of Account |
To park overseas savings remitted to India by converting
to INR |
To park Indian earnings like rent, Indian salary,
dividend, etc |
To park overseas savings in the foreign currency of
choice |
|
Currency |
Rupees |
Rupees |
USD, GBP, EUR, AUD& CAD |
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Account Types |
Savings Account |
Savings Account |
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Fixed Deposit |
Fixed Deposit |
Fixed Deposit |
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Current Account |
Current Account |
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|
Period for Fixed Deposit |
Min: 1 year |
Min: 15 days |
Min: 1 year |
|
Max: 5 years |
Max: 5 years |
Max: 3 years |
|
Joint Holding |
Only with NRIs |
Both with residents/non-residents |
Only with NRIs |
|
Tax deducted at source |
Exempt from tax deducted at source |
Subject to tax deducted at source at 30.6% |
Exempt from tax deducted at source |
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Frequency of Interest (Fixed Deposits) |
Quarterly |
Quarterly |
Semi-Annually |
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Repatriation of Principal |
Freely Repatriable |
Freely Repatriable |
Freely Repatriable |
|
Cheque Book for Savings Account |
Available |
Available |
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Debit/ATM Card for Savings Account |
International Debit cum ATM card |
ATM card |
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