NRE Savings Account

Basic Savings Account

for the Global Indian

NRE Savings Account

Get your NRE Savings Account

Source of Funds

By foreign inward remittance by way of SWIFT/WIRE, Foreign Demand Draft, Foreign Currency Cheque, Travellers Cheque, Foreign Currency*, etc., or transfer from existing NRE or FCNR accounts.

Currency Declaration Form (CDF) is to be submitted, if Foreign Currency is USD 5000 and above

Permitted Credits

  • Foreign inward remittances including foreign currency and TCs
  • Transfer from existing NRE or FCNR accounts
  • Maturity proceeds of government securities, refund of shares or debentures provided the investments were made originally from funds in NRE or FCNR accounts
  • Dividends or interest in respect of shares, debentures taken on repatriation basis provided investments is as per RBI approval
  • Refund of shares or debentures, if the subscription was paid from NRE or FCNR accounts or remittance from abroad
  • Refund of application or earnest money by the house building agencies, provided original payment was made out of NRE or FCNR accounts, or from inward remittance

Permissible Debits

  • Transfer to NRO, FCNR or RFC accounts
  • For all local payments
  • Acquisition of immovable property for bona fide residential purpose
  • Remittances outside India (repatriation)
  • For investments in Units of UTI, NSCs, deposits, etc.

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