Overview of NRE Savings Account
A Rupee Savings account to park your overseas earnings in India.
Features of NRE Savings Account
Low Average Quarterly Balance of Rs 10,000 ( A& B Category Branches)/ Rs 5000 ( C& Rural Category)
International Debit Card allows access to your bank account anytime, anywhere both in India and Abroad
Free Payable at par cheque book for use in India.
Access to Best-in-class Digital Banking – Net Banking, Mobile Banking and Video Branch
Host of Online and Telegraphic options to transfer funds to India
Earn attractive interest rate of up to 7% on your savings
Funds are fully and freely repatriable (both principal and Interest)
Interest Earned is exempt from tax in India
The funds are maintained in Indian Rupees
The account can be opened jointly with a NRI/PIO or a Resident Indian Close Relative on Former or Survivor basis.
Appoint a mandate holder to operate your account in India.
NRE Savings Account Eligibility Criteria
Eligibility Criteria of NRE Savings Account
- NRIs and PIOs.
- Seafarers of Indian nationality / origin employed by overseas shipping companies
- Students pursuing studies in foreign countries.
NRE Regular Saving Account Documentation
- Recent passport photograph
- Photocopy of the pages of the passport containing passport details and personal details.
- Copy of Permanent Account Number (PAN) / Form 60 (in absence of PAN)
- Copy of valid proof of NRI status -Â Resident permit / Work permit/ Employment Visa/ others
- Document confirming either overseas or Indian address. For PIOs, Overseas address proof is mandatory
- In case of seafarers, copy of CDC and employment contract is mandatory.
