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| RETAIL : NRI Accounts |
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Open NRI Accounts Online
Timesofmoney now adds NRI Account Opening to its wide range of products and services. Enjoy the benefits of banking with the banks of your choice.
You can now open the following NRI Accounts Online -
Rupee Savings Account
- NRE Savings Account - Non-Resident External (NRE) accounts are Rupee accounts. This account can be jointly held with other NRI's. You can also move your funds out of India, whenever you wish to. Moreover, you are not even taxed on the funds or the interest in this account.
- NRO Savings Account - Non-Resident Ordinary (NRO) accounts can be opened in Indian Rupees. Interest on the account can be repatriated, after payment of the applicable taxes. NRO accounts can also be opened by remittances from abroad wherein legitimate dues in rupees of the account holder in India can also be credited.
Fixed Deposits
- NRO Fixed Deposit - It is an account, which can be opened in Indian Rupees. You can jointly open the NRO Fixed Deposit with a Resident Indian.
- NRE Fixed Deposit - Your entire deposit, principal and interest, is exempt from tax. You can choose to have your funds moved out of India, whenever you need it. This Fixed Deposit can be jointly held with another NRI.
- FCNR Fixed Deposit - You get the option of holding your account in 4 foreign currencies, US Dollars, Pounds, Yen and the Euro. What's more, in this account all your funds, including interest, are exempt from income tax in India.
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