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NRI Banking Services

NRE (Non-Residential External) Bank Account

Sanskriti SaxenaBy Sanskriti Saxena |Last Updated: February 10, 2026
NRE (Non-Residential External) Bank Account
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  4. Reading Time: 9 mins

A non-resident external account (NRE) is an NRI-specific bank account in India. It allows NRIs to deposit money earned abroad in India. An NRE account is an Indian-denominated bank account that converts foreign-earned income into Indian rupees once deposited.

The purpose of NRE accounts is to help NRIs manage their foreign earnings conveniently in India. You can open an NRE account in different types, such as a savings account, a current account, or even a fixed deposit.

Sanskriti Saxena
Sanskriti Saxena(Tax Expert)

Miss Sanskriti is a certified Tax Expert. She has her expertise in US GAAP, Taxation, SOX, IRS, Accounting, and Auditing standards. Miss Saxena is an intellectual blend of a high-end auditor, tax consultant, and accountant

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Related Articles
  • Section 80C Deduction
  • Form 61A – SFT Filing
  • Section 197 Lower Deduction
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Frequently Asked Questions

Yes, NRIs are allowed to hold both NRE and NRO accounts simultaneously.

To open an NRE account, you must qualify as a Non-Resident Indian (NRI), Person of Indian Origin (PIO), or Overseas Citizen of India (OCI).

An NRE account offers several benefits, including tax exemption on interest earned in India, full repatriation of funds, flexibility for personal and investment purposes, and the ability to invest directly in Indian financial instruments.

Yes, NRIs can open a joint NRE account, but only with another NRI or OCI. A resident Indian cannot be a joint holder in an NRE account.

Yes, both the principal and interest in an NRE account are fully repatriable without any restrictions.