Everything to Know About NRE Accounts
NRE (Non-Resident External) account is required for NRI (Non-Resident Indian) to manage their financial commitments in India. The account allows NRIs to save their foreign currency earnings in India. It is a rupee-denominated bank account that only NRIs can open in India to deposit money earned outside India so they can easily handle investments, family expenses, and utility bills. The account can be a current account, saving account, fixed deposit account, or recurring deposits (RD). One can operate their NRI accounts from anywhere around the world, using internet banking facilities. In addition, the banks provide international debit cards, allowing NRIs to transact and withdraw money with ease. Here is everything you should know about NRE accounts. Eligibility Criteria for An NRE accounts The following are the eligibility criteria for opening an NRE account in India. Indians who are Mariners or working on foreign-registered airlines and oil rigs Indian citizens who are living