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Fill up the form with the correct information, get a printout and put your signature in the designated places.

Post sucessfull submittion of online application form, our virtual account manager will call you & will further assist you with form filling.

Click on Open NRI Account & Register for opening account online.

Visit the official Axis Bank website and go to the NRI page.

Here’s how you can apply for an NRI Savings Account and open an NRI Savings Account:

Read More How to open an NRI Savings Account?

The interest rate for these accounts will vary as per the deposit tenure and currency, and the rate of interest does not fluctuate throughout the tenure.

These accounts may be opened only in the form of term deposit with maturity of such period as may be specified by the RBI from time to time.

Foreign Currency Non-Resident (Banks) Account or FCNR-B are where NRIs, Persons of Indian Origin (PIOs) and Overseas Citizenship of India (OCIs) make deposits in foreign currencies approved by the Reserve Bank of India for 1-5.

Foreign Currency Non-Resident (Banks) Account: Moreover, the funds can be easily transferred to another NRO or NRE account.Ĭ. As the funds in an NRE account can only be made in the currency of the country where the NRI resides, there’s a risk of currency fluctuation however, there is no tax on the principal and the interest earned in this account.Interest earned on NRE account is tax-free and it fully repatriable. It is an account of an NRI to transfer foreign earnings to India.

NRE is a Non-Resident External Account.NRIs can also deposit into the NRO account in permissible foreign currency and withdraw in Indian currency.In case of NRO accounts, NRIs can receive payments from outside India, transfer funds from their NRE/NRO accounts within India and receive their legitimate dues in India in the NRO account.It is an account of an NRI to manage the income earned in India wherein interest earned on NRO account is taxable. NRO Account is Non-Resident Ordinary Account.There are three different types of NRI accounts that an individual can open as per their financial needs: A.