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The HSBC NRE Account is a savings / current account held in India, in Indian Rupees.
You can deposit your foreign currency earnings into the NRE account by transfers from your country of residence or transfers from other NRE accounts in India. The money you deposit in foreign currency is converted into Indian Rupees, as per the prevailing foreign exchange rate. You can always convert it back to foreign currency and repatriate the sum out of India, since both principal and interest earned in this account are freely repatriable.
*Terms and Conditions apply. Please refer to the remittances section for more information.
**The term 'working days' refers to days that are bank working days in both UAE and India. In case of FastCHEQUE, the NR account will be credited in 3-5 working days post receipt of the cheque at the lockbox.
^^A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
^Free for first year debit card facility is only available to nominated family members who have been appointed as the Power of Attorney for an NR Account holder. Fees will be charged on the debit card held by the primary NR account holder. Please refer to the debit card sections in www.hsbc.co.in for details on debit card fees.
***Indian tax information given herein is general and is not meant to constitute, and therefore should not be construed, as advice. The tax consequences are also based on individual facts and circumstances. As such, prior professional tax advice should be sought to fully understand and appreciate the Indian tax implications. We assume no obligation or liability of any nature whatsoever by issuing this document. For US Citizens and US Residents, if necessary, you should consult your tax advisor for questions regarding the US tax treatment of these deposits. If you are resident in any other country, you should consult your tax advisor regarding the tax treatment of these deposits in your country of residence.
NR Accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Program.
NR deposits are offered under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India.
@This feature requires separate registration
You can deposit your foreign currency earnings into the NRE account by transfers from your country of residence or transfers from other NRE accounts in India. The money you deposit in foreign currency is converted into Indian Rupees, as per the prevailing foreign exchange rate. You can always convert it back to foreign currency and repatriate the sum out of India, since both principal and interest earned in this account are freely repatriable.
Key features:
- Send money to India
You can send money to India for FREE*!
FastCLICK
You can send money to India for FREE* through Internet Banking. Moreover your money gets credited into your HSBC NRE account in India in just 3 working days**!
*A flat conversion fee^^ of Rs. 50/-, plus currently applicable service tax, will be charged to you for each remittance transaction involving foreign currency conversion.
Know more about FastCLICK
FastCHEQUE
Send money to India for FREE* via cheque and FastCHEQUE instruction form, in just 3-5 working days**!
*A flat conversion fee^^ of Rs. 50/-, plus currently applicable service tax, will be charged to you for each remittance transaction involving foreign currency conversion.
Know morea about FastCHEQUE - Tax free***
Interest earned on your deposits in this account is tax free*** in India. - Access your account from around the world
International Debit Card
- Withdraw money at 1 Million ATM's
- Shop at over 26 million establishments across the world
Internet Banking
Access and track your account 24x7, from anywhere in the world
- FREE## funds transfer to any bank account in India from your HSBC India NRE account
- Free delivery of Rupee Drafts
- Request for E-Statements for your bank account
- Create and access Fixed Deposits
- Stop cheques, order new cheque books
Know more about Internet Banking
Phone Banking
Enjoy quick and efficient banking experience by using HSBC Phone Banking - Pay bills@ for services availed by your family in India
Pay the utility bills of your family in India - such as electricity, telephone and mobile bills through Internet Banking. - Your family in India can also operate the account
You can appoint any of your family member as Power of Attorney for the account.
The power of attorney holder will receive:
- FREE Debit card^
- Cheque book
Your family can thus access your account for all their financial needs:
- Withdraw money at HSBC ATMs or shop at establishments across India with the Debit card
- Issue cheques for payments in India
- Deposit foreign currency cheques in your name to your account
Download the power of attorney form.
- Nomination facility
Nomination facility is available on the NRE account. - Minimum deposit required
Account Type Amount Savings Account INR 25,000 Current Account INR 25,000 - Joint Account
The HSBC NRE Account can be opened jointly by a Non Resident Indian with Non-Resident Indians.
*Terms and Conditions apply. Please refer to the remittances section for more information.
**The term 'working days' refers to days that are bank working days in both UAE and India. In case of FastCHEQUE, the NR account will be credited in 3-5 working days post receipt of the cheque at the lockbox.
^^A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
^Free for first year debit card facility is only available to nominated family members who have been appointed as the Power of Attorney for an NR Account holder. Fees will be charged on the debit card held by the primary NR account holder. Please refer to the debit card sections in www.hsbc.co.in for details on debit card fees.
***Indian tax information given herein is general and is not meant to constitute, and therefore should not be construed, as advice. The tax consequences are also based on individual facts and circumstances. As such, prior professional tax advice should be sought to fully understand and appreciate the Indian tax implications. We assume no obligation or liability of any nature whatsoever by issuing this document. For US Citizens and US Residents, if necessary, you should consult your tax advisor for questions regarding the US tax treatment of these deposits. If you are resident in any other country, you should consult your tax advisor regarding the tax treatment of these deposits in your country of residence.
NR Accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Program.
NR deposits are offered under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India.
@This feature requires separate registration
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