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Compare NRI Services

Compare all NRI accounts and services available
Compare NRI Services
Features
NRE Account
NRO Account
NRE Fixed Deposits
NRO Fixed Deposits
FCNR (B) Account
Resident Foreign Currency (RFC)

Account Type

Saving Account

 

Current Account

Saving Account

 

Current Account

Fixed Deposit

Fixed Deposit

Fixed Deposit

Fixed Deposit

Currency

Indian Rupees

Indian Rupees

Indian Rupees

Indian Rupees

US Dollars, British
Pounds, Euros, Japanese Yen, Canadian
Dollars, Australian
Dollars, Danish Krone, Swiss Francs, Swedish Krona

US Dollars, British
Pounds, Euros, Japanese
Yen

Average Monthly
balance

Savings account-

₹1,50,000

 

Current Account-
₹1,50,000

Savings account-
₹1,50,000

 

Current Account-
₹1,50,000

Minimum First Deposit
₹25000

Minimum First Deposit
₹25000

Varies based on foreign currency.

Click here for details

Varies based on

foreign currency. 

Click here for details

Repatriation

Freely Repatriable

Restricted repatriability^
(Post Deduction of
applicable tax)

Freely Repatriable

Restricted repatriability^
(Post Deduction of
applicable tax)

Freely Repatriable

Freely Repatriable

Tax

Tax free* in India

Taxes* applicable
in India

Tax free* in India

Taxes* applicable
in India

Tax free* in India

Taxes* applicable
in India

Joint Account

With Resident Indians^^ as well as other NRIs

Resident Indians as well
as other NRIs

With Resident Indians^^ as well as other NRIs

With Resident Indians as
well as other NRIs

With Resident Indians^^ as well as other NRIs

Only with other returning
Non-Resident Indians

Deposit of Rupee
funds generated
in India

Permitted$

Permitted

Not permitted

Permitted

Not permitted

Not permitted

Choose this
account if…

You need an account for
making ₹ payments /
investments in India from your overseas earnings.

You want to maintain your

savings in ₹ but keep them liquid

You wish to open an ₹ account jointly with another NRI

You want your Rupee savings to be freely repatriable

You need an account for
making ₹
payments /
investments in India from your India earnings.


You need an account for

depositing your income in India from sources such as rent, dividends, etc.

You wish to open the account jointly with a

person resident in India.

You want to earn higher returns on your overseas
savings as compared to a savings/current
account in India.


You want tax free* returns in India on your

₹ fixed deposits

You want to earn higher returns compared to a
savings/current account on your Rupee income
earned in India

You want tax free*returns in India on your
foreign currency fixed deposits.




You wish to keep your overseas savings in India but do not want to convert them into ₹
 

You wish to maintain your overseas savings or NRE/FCNR (B)
account balances in foreign currency even
after you return to India and convert them into ₹at a more favourable exchange rate at a later date

Apply Links

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Apply now

Apply now

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Find Out
More Links

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Compare NRI Services
Features

Account Type

NRE Account

Saving Account

 

Current Account

NRO Account

Saving Account

 

Current Account

NRE Fixed Deposits

Fixed Deposit

NRO Fixed Deposits

Fixed Deposit

FCNR (B) Account

Fixed Deposit

Resident Foreign Currency (RFC)

Fixed Deposit

Features

Currency

NRE Account

Indian Rupees

NRO Account

Indian Rupees

NRE Fixed Deposits

Indian Rupees

NRO Fixed Deposits

Indian Rupees

FCNR (B) Account

US Dollars, British
Pounds, Euros, Japanese Yen, Canadian
Dollars, Australian
Dollars, Danish Krone, Swiss Francs, Swedish Krona

Resident Foreign Currency (RFC)

US Dollars, British
Pounds, Euros, Japanese
Yen

Features

Average Monthly
balance

NRE Account

Savings account-

₹1,50,000

 

Current Account-
₹1,50,000

NRO Account

Savings account-
₹1,50,000

 

Current Account-
₹1,50,000

NRE Fixed Deposits

Minimum First Deposit
₹25000

NRO Fixed Deposits

Minimum First Deposit
₹25000

FCNR (B) Account

Varies based on foreign currency.

Click here for details

Resident Foreign Currency (RFC)

Varies based on

foreign currency. 

Click here for details

Features
Repatriation
NRE Account

Freely Repatriable

NRO Account

Restricted repatriability^
(Post Deduction of
applicable tax)

NRE Fixed Deposits

Freely Repatriable

NRO Fixed Deposits

Restricted repatriability^
(Post Deduction of
applicable tax)

FCNR (B) Account

Freely Repatriable

Resident Foreign Currency (RFC)

Freely Repatriable

Features

Tax

NRE Account

Tax free* in India

NRO Account

Taxes* applicable
in India

NRE Fixed Deposits

Tax free* in India

NRO Fixed Deposits

Taxes* applicable
in India

FCNR (B) Account

Tax free* in India

Resident Foreign Currency (RFC)

Taxes* applicable
in India

Features

Joint Account

NRE Account

With Resident Indians^^ as well as other NRIs

NRO Account

Resident Indians as well
as other NRIs

NRE Fixed Deposits

With Resident Indians^^ as well as other NRIs

NRO Fixed Deposits

With Resident Indians as
well as other NRIs

FCNR (B) Account

With Resident Indians^^ as well as other NRIs

Resident Foreign Currency (RFC)

Only with other returning
Non-Resident Indians

Features

Deposit of Rupee
funds generated
in India

NRE Account

Permitted$

NRO Account

Permitted

NRE Fixed Deposits

Not permitted

NRO Fixed Deposits

Permitted

FCNR (B) Account

Not permitted

Resident Foreign Currency (RFC)

Not permitted

Features

Choose this
account if…

NRE Account

You need an account for
making ₹ payments /
investments in India from your overseas earnings.

You want to maintain your

savings in ₹ but keep them liquid

You wish to open an ₹ account jointly with another NRI

You want your Rupee savings to be freely repatriable

NRO Account

You need an account for
making ₹
payments /
investments in India from your India earnings.


You need an account for

depositing your income in India from sources such as rent, dividends, etc.

You wish to open the account jointly with a

person resident in India.

NRE Fixed Deposits

You want to earn higher returns on your overseas
savings as compared to a savings/current
account in India.


You want tax free* returns in India on your

₹ fixed deposits

NRO Fixed Deposits

You want to earn higher returns compared to a
savings/current account on your Rupee income
earned in India

FCNR (B) Account

You want tax free*returns in India on your
foreign currency fixed deposits.




You wish to keep your overseas savings in India but do not want to convert them into ₹
 

Resident Foreign Currency (RFC)

You wish to maintain your overseas savings or NRE/FCNR (B)
account balances in foreign currency even
after you return to India and convert them into ₹at a more favourable exchange rate at a later date

Features

Apply Links

NRE Account

Apply now

NRO Account

Apply now

NRE Fixed Deposits

Apply now

NRO Fixed Deposits

Apply now

FCNR (B) Account

Apply now

Resident Foreign Currency (RFC)

Apply now

Features

Find Out
More Links

NRE Account

Find out more

NRO Account

Find out more

NRE Fixed Deposits

Find out more

NRO Fixed Deposits

Find out more

FCNR (B) Account

Find out more

Resident Foreign Currency (RFC)

Find out more

Important Information

Other Terms & Conditions

NRI deposits are under the Reserve Bank of India programme for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programmes, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India.

NR Accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited.

^^ NRE / FCNR Accounts opened / held jointly with resident close relative (relative as defined in Section 6 of the Companies Act 1956), can be operated only on 'Former or Survivor' basis.

 *Indian tax information given herein is general and is not meant to constitute, and therefore should not be construed, as an 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.

^As per current local regulations the permissible remittance from the balances in NRO accounts is up to USD 1 million, per financial year for all bonafide purposes. The remittances (net of applicable taxes) will be allowed to be made on production of an undertaking by the remitter and a Certificate from a Chartered Accountant in the prescribed formats.

$ Current income like rent, dividend, pension, interest etc. will be construed as a permissible credit to the NRE account.