Indian Bank NRI Account

Indian Bank, a leading public sector bank in India, offers a comprehensive suite of banking services designed exclusively for Non-Resident Indians (NRIs). With a focus on convenience, security, and seamless international transactions, Indian Bank NRI accounts cater to the unique financial needs of Indians residing overseas.

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Types of Indian Bank NRI Accounts

Indian Bank understands the unique needs of NRIs and provides a comprehensive suite of NRI account options:

• NRE (Non-Resident External) Savings Account: This account is ideal for managing income earned abroad. Funds deposited in this account can be freely repatriated outside India, allowing for greater financial flexibility.

• NRE Fixed Deposit Account: NRE Fixed Deposit account enables NRIs to earn higher interest rates on their savings while enjoying the flexibility of choosing deposit tenures ranging from 1 year to 10 years.

• NRO (Non-Resident Ordinary) Savings Account: Manage income arising in India, such as rental income or pensions, through this account. While funds in this account are not generally repatriable, there are exceptions for specific purposes like medical expenses or educational expenses for dependents in India.

• Special Non-Resident Rupee (SNRR) Account: This account caters to NRIs with business interests in India. You can utilize this account for carrying out bona fide transactions in Indian rupees.

• FCNR (B) Deposit Account (Foreign Currency Non-Resident (B) Deposit Account): Earn attractive interest rates on your foreign currency deposits with this fixed-term deposit account. The tenure of the deposit can range from 1 to 5 years. Interest on FCNR deposits is generally exempt from Indian income tax, making it a tax-saving option.

Benefits of Indian Bank NRI Accounts

• Convenience: Manage your Indian finances remotely through online banking facilities.
• Multiple Account Options: Choose the account that best suits your needs, whether it's managing income earned abroad, income arising in India, or saving in foreign currency.
• Competitive Interest Rates: Earn potential returns on your deposits with NRE and FCNR accounts.
• Tax Benefits: Interest on FCNR deposits may be exempt from Indian income tax.

Who is eligible for an Indian Bank NRI account?

• Indian citizens who reside outside India for employment, business, or education purposes
• Persons of Indian Origin (PIOs) holding foreign passports
• Overseas Citizens of India (OCIs)

Beyond Transfers: Simply your NRI financial life with Wise

Wise offers an ideal alternative to banks for global expats with roots abroad. Take a look at the Wise multi-currency account available for residents living in supported countries. Enjoy an account as worldly as you are and spend just like a local when you travel abroad with a linked debit card, while also paying less in fees.

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