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Features
NRE
NRO
FCNR (B) Deposits
Purpose of account To deposit overseas savings remitted to India To deposit India earnings To deposit overseas savings in Foreign currency
 
Currency Indian Rupee Indian Rupee AUD, CAD, Euro, GBP and USD.
 
Type Savings Account, Current Account, Fixed Deposits Savings Account, Current Account, Fixed Deposits Fixed Deposits
 
Joint holding With Non-Resident Indian or with Resident Indian(in Former or Survivor mode only)  With Non-Resident Indian or with Resident Indian(in Former or Survivor mode only) With Non-Resident Indian or with Resident Indian(in Former or Survivor mode only)
 
Repatriability Freely repatriable Repatriation of current income, like rent, dividend, interest, is allowed up to USD 1 million per financial year for bonafide purposes, after payment of applicable taxes. Freely repatriable
 
TDS Exempt from TDS Subject to TDS as per guidelines Exempt from TDS
 
INR Cash Deposit Cannot be deposited Can be deposited Cannot be deposited
 
Mode of funding Remittance from outside India, foreign currency cash or cheque, transfer from other NRE/FCNR (B) Deposits Cash (rupees) / transfer from resident account / resident account cheque in addition to NRE funding methods Remittance from outside India, foreign currency cash or cheque, transfer from other NRE/FCNR (B) Deposits
 
Advantages Rupee account with full repatriation benefits Account for local funds No exchange risk
 
Period for Fixed Deposit Min: 1 yr, Max: 10 yrs Min: 14 days, Max: 10 yrs Min:1 yr, Max: 5 yrs
 
Cheque book Available Available Not applicable
 
Debit/ATM card International Debit card Domestic Debit Card Not applicable
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