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Authorised by RBI to open NRE Accounts
in Rupees |
 |
Various Deposit schemes offered |
 |
Easy conversion through correspondents |
 |
Premature Withdrawals allowed |
 |
Nomination Facility Available |
 |
Loan facility available (for
NRE a/cs only) |
 |
No Income Tax (on NRE) , no Gift Tax, no Wealth
Tax |
 |
Repatriation Benefits in NRE account |
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Simple Renewal Formalities |
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Easy Documentation |
 |
Since 2006, RBI has instructed all Co-operative
Banks to close all existing NRO accounts and not
to open any fresh NRO accounts |