NRE Account - NRE Rupee Savings Account Benefits/Features

Please note: Due to Covid-19 pandemic, there could be a delayed response for any new account opening / remittance requests. All Kotak Mahindra Bank branches and call centres are operating with reduced staff strength resulting in a higher than average response time for service requests.

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NRE Rupee Savings Account

Explore a simple and smart way to move your foreign earned funds to India without paying any tax on interest.

Low Average Monthly Balance of Rs. 10,000/- only

Easy and Economical Remittances into India by Cheque or Wire Transfer

Preferential Forex rate for transaction above USD 10,000/- or equivalent

Personalized investment advisory customized to risk return

Other Features

Fully and freely repatriable deposit (both principal and Interest)
Interest is earned on daily balances in Savings Account up to Rs. 5 lakhs will earn 3% interest p.a. and above Rs. 5 lakhs will continue to earn 3.50% respectively
Global Debit Card allows access to your bank account anytime, anywhere on all VISA ATMs and at merchant locations both in India and abroad
At Par Cheque book along with 24/7 access through phone banking
Net Banking allows you to access account from across geography as per your time zone and convenience to carry out banking transaction from transfer of payment, book term deposit to payment of credit card and utility bills in India
Home Banking Services in India
The principal amount and the interest earned on an NRE Account are exempt from Income Tax in India
It can be jointly opened by NRIs/PIOs only. However, the same be opened jointly with Resident Indian on former or survivor basis

Disclaimers

*Subject to nominal foreign currency conversion charges.