ACCOUNT
THAT SUITES YOUR REQUIREMENTS |
Features |
Indian
Rupee Accounts |
Foreign
Currency |
Indian
Rupee Fixed Deposits |
Foreign
Currency Fixed Deposits |
NRE
Account |
NRO
Account |
RFC
Account |
NRE
Fixed Deposits |
NRO
Fixed Deposits |
FCNR
Fixed Deposits |
RFC
Deposits |
Account
Types |
Savings
Account, Current Account |
Savings
Account, Current Account |
Savings
Account, Current Account |
Fixed Deposit |
Fixed
Deposit |
Fixed Deposit |
Fixed
Deposit |
Currencies
offered |
Indian
Rupees |
Indian
Rupees |
USD,GBP
& EUR |
Indian
Rupees |
Indian
Rupees |
USD,GBP
& EUR |
USD,GBP
& EUR |
Repatriation
rules |
Fully Repatriable |
Restricted
repatriability (post deduction of
applicable tax) |
Fully
Repatriable |
Fully Repatriable |
Restricted
repatriability (post deduction of
applicable tax) |
Fully Repatriable |
Fully
Repatriable |
Tax
rules |
Tax
free* in India |
Taxes
applicable |
Tax
free* in India |
Tax
free* in India |
Taxes
applicable |
Tax
free* in India |
Tax free* in
India |
Joint
Account rule |
Only with
other Non-Resident Indians |
Resident
Indians as well as other NRIs |
The
account can be held jointly with another
person resident in India who is eligible
to open a RFC account |
Only with
other Non-Resident Indians |
With Resident
Indians as well as NRIs |
Only with
other Non-Resident Indians |
Deposit can be held
jointly with another person resident
in India who is eligible to open a
RFC account |
Whether
you can deposit local (India) Rupee
funds |
Not permitted |
Permitted
- only
legitimate dues to
the depositor
can be deposited |
Not permitted |
Not permitted |
Permitted |
Not permitted |
Not permitted |
Choose
this account if… |
You need
an account for making INR payments
/ investments in India from your overseas
earning |
You need
an account for making INR payments
/ investments in India from your India
earnings |
You wish
to keep your foreign earnings in foreign
currency after returning back to India
for good |
You wish
to earn higher returns compared to
a savings account on your INR fixed
deposits in India |
You want
to earn higher returns compared to
a savings account on your Rupee income
earned in India |
You want
tax free* returns on your foreign
currency fixed deposits in India |
You
wish to keep your foreign earnings
parked in foreign currency deposit
after you have returned back to India
for good |
|
You want
to maintain your savings in IBR but
keep them liquid |
You need
an account for depositing your income
in India from sources such rent, dividends,
ect. |
You have
some foreign exchange
received as pension or any other superannuation
or other monetary benefits from your
employer outside India |
You want
tax free* returns on your INR fixed
deposits in India |
|
You wish
to keep your foreign currency savings
in India but do not want to convert
them into INR |
You wish
to keep your foreign earnings parked
in foreign currency deposit after
you have returned to India for good |
|
You want
your Rupee savings to be fully repatriable
|
You have
income in India through rent, dividends,
pension and so on it will allow you
to conveniently deposit and manage
local rupee funds |
You want
your Foreign savings to be fully repatriable
& Tax Free |
You want
your Rupee Deposit to be fully repatriable
& Tax Free |
You want
to park your local earnings in Rupee
in Fixed deposit |
You want
your Foreign savings to remain in
Foreign currency deposit and be fully
repatriable & Tax Free |
You want your Foreign
savings to remain in Foreign currency
deposit and be fully repatriable &
Tax Free after you have returned
back to India for good |
