Day: 28 March 2014

As NRI, you can open following different type of Bank accounts in India based on your requirements: NRO - Non-Resident Ordinary Account NRE - Non Resident External Account FCNR (Foreign Currency Non Resident) NRE  Account vs NRO Account vs FCNR Account - Key Features   NRE NRO FCNR Type of Account Savings, Current, FD Savings, Current, FD FD Held in Currency INR INR USD, GBP, EUR, AUD, CAD Source of Funds Remittance from Overseas or Transfer from existing NRE/ FCNR Accounts Local Income in India (Rent, interest or dividend income). Transfer from existing NRE   Remittance from Overseas or Transfer from existing NRE/ FCNR Accounts Deposit of Rupee funds generated in India No Yes No Repatriation Fully repatriable – both principal and Interest Restricted repatri...