| The Non Resident External (NRE) Current Account
is an account that can be opened in Indian Rupees
and is the ideal way to route investments made
in India on a repatriable basis. This account
can be jointly held with other NRIs. You can also
move your funds out of India, whenever you wish
to. Moreover, you are not even taxed on the funds
or the interest earned in this account.
Who Can Open a Non Resident External account?
Non-Resident individuals of Indian nationality
or of Indian origin
Can I have a joint accounts?
An NRE account can be opened jointly with other
NRIs. A resident Indian cannot be a joint holder
in a NRE Account.
How do I fund my NRE Current Account?
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Funds transferred from abroad in a freely
convertible foreign currency in an approved
manner or from an existing NRE/FCNR Account
held in other banks.
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Directly remit
the amount to us.
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Tendering Foreign Currency notes/traveler's
cheques brought in during your visit to India.
What are the balance requirements?
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The Average Quarterly Balance: Current Account:
Rs. 10,000
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Charges for Non-maintenance of Average Quarterly
Balance: Rs. 300 per quarter
Features
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ATM Card: You are issued an ATM that
can be used at any DCB ATM
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Letter of Mandate: You can give a
letter of mandate to your local representative
in India who can operate the account on your
behalf. Download
Mandate Form (PDF)
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Repatriation: You can easily have
your balances held in the NRE Current Account,
along with interest earned and transferred
outside India without the prior approval of
the Reserve Bank Of India.
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Personalised Cheque book: You get
a personalised cheque book, that is issued
on your NRO Current Account.
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Nomination Facility: Nomination is
allowed in NRE Current Accounts.
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FREE Quarterly Statements & Monthly
Statements by E Mail:You are sent Quarterly
Statements to your mailing address. They are
generated as of 31st March, 30th June, 30th
September and 31st December. Monthly statements
and Duplicate statements are also available
for a fee.
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Any Branch Banking: Enjoy the convenience
of banking at any of our branches
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Safe Deposit Locker at certain branches,
for safety of your valuables and important
documents while you are away.
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