Accounts

NRE Regular Savings Account

    The NRE Regular Savings Account enables you to manage your overseas earnings with ease. The NRE Regular Savings Account has been designed to meet your specific needs as an NRI.

Features & Benefits

    • International Debit Card : You get an International Debit that enables you to access your account at any Visa terminal overseas
    • Free Pay Orders : You can issue pay order from your account, absolutely free of charge
    • Free Payable-at-Par Chequebook : You get a payable-at-par chequebook for use in India
    • Doorstep Banking : This unique facility provides you the convenience of transaction from the comfort of you home, during your visit to India. This facility is applicable for non-cash transactions only
    • Free SMS Alerts : This facility enables you to track your account on a daily basis. This facility is currently available in 8 international geographies only.
    • Free Internet Banking : The Internet Banking facility enables to you access your account anytime, from anywhere.
    • Free Utility Bills Payment : Using this facility, you can pay utility bills with select utility service providers in India.
    • NEAT (NRI Enquiry Assistance Tracker) : A unique service that facilitates you to seek responses to your queries related to banking, taxation, legal & finance
    • Concierge Service : You can avail of the concierge service to meet your financial requirements including tax returns filing, PAN application processing & property registration.
    Apply Now for a NRE Regular Savings Account and experience banking convenience at its best!

    FAQs related to NRE Regular Savings Account

  • Zero Balance Account : The account is a zero balance account that saves you the hassle of keeping tab of your average balances

Documentation

    • Complete application form
    • Your Photograph
    • Photocopies of the passport showing your passport and person details*
    • Photocopy of your visa / resident permit / work permit*
    • One document indicating your mailing address as mentioned on the application form.*
    * All the documents need to be self attested.
    The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.

    How do I open an NRE / NRO Savings Account?
    To open an NRE / NRO Savings Account, all you need to do is:
      • Download the application form (Please note that you would need to have Adobe Acrobat    Reader installed on your system)
      • Complete the application form
      • Attach a photograph
      • Enclose photocopies of the passport showing your passport and person details*
      • Attach a photocopy of your visa / resident permit / work permit*
      • Attach one document indicating your mailing address as mentioned on the application form.*
    * All the documents need to be self attested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.

    How do I choose whether I need to open a NRE / NRO Account?
    NRE (Non Resident External)
      • Currency of funding- To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts)
      • Tax implication- Both the principal amount and the interest earned on it is exempt from tax in India
      • Repatriation- The funds in the account can be converted to foreign currency and taken back to any overseas location
      • Joint Account holders- Can be held jointly along with either a NRI / PIO
      • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees

    NRO (Non Resident Ordinary)
      • Currency of funding- Can be funded using foreign currency or Indian Rupees
      • Tax implication- The interested earned is subject to Tax Deducted at Source (TDS) of 30%+surcharge+edu cess
      • Repatriation- The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions
      • Joint Account holders- Can be held jointly with either a NRI / PIO or a Resident Indian
      • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees

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