NRI Bank Accounts – NRE, NRO, FCNR
NRE (Non-Resident External)and NRO (Non-Resident Ordinary) accounts are popular with NRI. While the NRE is an external account and is repatriable in foreign currency, the NRO is the Resident account and cannot be repatriable. NRO and NRE Account can be opened as a Savings, recurring, or fixed deposit account. Interest earned on NRO is taxable and TDS @ 30%…