Definition of NRE account?

• Non Resident Indian i.e. An Indian Citizen, who have gone abroad for gainful employment or for carrying on a business or vocation or for any other purpose in circumstances indicating an intention to stay outside India for an uncertain duration)

• Hassle free repatriation and remittance facility.
• TAX free interest on deposit.
• Registration of mandate.
• Opportunity to invest in Indian investment instruments.
• Provision of International debit card to withdraw funds.
• Crew members of Indian nationality or Indian origin can open NRE account.

• OCI/PIO can open NRE account.
• NRE Account allows you to receive foreign currency remittance.
• Denominated in Indian currency.
• Full Repatriability of Funds outside India.
• No income tax on interest income.
• Easy to invest money in Indian investment instruments.
• Conversion into RFC Account upon return to India.
• Facilities such as Internet Banking, Mobile banking, locker, nomination is available.
• Loans are permitted for investment in India.

• Account Opening Form – NF1845.
  DOWNLOAD ACCOUNT OPENING FORM FROM HERE
• Valid Visa (or Residential Permit or Job Card).
• Valid Passport.
• For OCI and PIO – Valid Foreign Passport and OCI/PIO Card required
• PAN/Form 60 & Annexure-V (Mandatory for SB-NRO accounts).
• FATCA declaration.
• Foreign Tourists Visiting India – Valid Foreign Passport and valid Indian VISA.
• For Bangladesh Citizens (individuals only) EFRRO registration is Mandatory.
• KYC documents, Photo etc

To know about rate of interest

• Terms and conditions of the Bank as applicable on NRE Deposit. For complete details, please visit your nearest branch.