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Frequently Asked Questions

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In which currency is my NRE savings account maintained?

Your NRE savings account will be maintained in Indian Rupees.

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Can I repatriate funds held in my NRE savings account?

Yes, the funds held in your savings account are fully and freely repatriable (both principal and Interest).

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What is the minimum amount required to open NRE savings account?

The minimum amount required to open NRE savings account is Rs. 10,000/- or its equivalent in foreign currency. You would be required to maintain an Average Quarterly Balance of Rs. 10,000/- only.

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How does average quarterly balance calculated?

Average quarterly balance is the sum of daily closing balance of all the calendar days in a quarter divided by the number of days in that quarter.

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Are these accounts taxable in India?

As per current guidelines, the principal amount as well as interest earned on NRE Account is exempted from Income Tax in India.

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