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Account Types
NRE Savings
NRO Savings
NRE Fixed Deposit
NRE vs NRO
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Mentioned below are the essential features of both the account types.

Account Type NRE NRO
Currency INR INR
Purpose Of Account NRE Accounts are used to hold overseas savings remitted to India after converting to INR NRO Accounts are used to hold Indian income like rent, dividend etc.
Repatriation Fully repatriable Only interest on NRO account balance (after deducting TDS)
Types Of Account Savings Bank Account

Fixed Deposit Account
Savings Bank Account

Fixed Deposit Account
Tax Fully exempt 30% tax deducted at source
Local rupee funds Not allowed Can be deposited
Advantages Rupee account with full repatriation Account for local Deposits
Joint Holding Facility Only with NRIs Both with Resident/Non-Resident
 
 
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