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NRI Income Tax & Compliance

Can NRI Hold a Savings Account in India?

Varun GuptaBy Varun Gupta |Last Updated: January 6, 2026
Can NRI Hold a Savings Account in India?
  1. Home
  2. NRI Income Tax & Compliance
  3. Can NRI Hold a Savings Account in India?
  4. Reading Time: 6 mins

Upon changing one's status to NRI, many financial and tax regulations change. These changes often lead a new NRI into a state of confusion, uncertainty, and many questions. Among many, one such question that arises most is "Can NRIs continue with a resident savings account"?

In this blog, we will decode this question and provide you with informed insights that help you make informed decisions. 

Varun Gupta
Varun Gupta(Tax Expert)

Mr Varun is a tax expert with over 13 years of experience in US taxation, accounting, bookkeeping, and payroll. Mr Gupta has not prepared and reviewed over 5000 individual and corporate tax returns for CPA firms and businesses.

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Frequently Asked Questions

No, an NRI cannot operate its existing savings account.

If they fail to do so, they will attract heavy penalties.

Yes, NRE accounts are exempt from Indian taxes.

No, to deposit the foregin income, NRIs must use an NRO account, not an NRE account. NRE is specifically for managing only the foreign earnings of the NRI.